Update: Ex-Northcoast Rep Dominic Tropiano Barred by FINRA
Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 26, 2019 indicate that former Ohio-based America Northcoast Securities broker Dominic Tropiano has been sanctioned by FINRA and barred from acting as a broker or otherwise associating with a broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Tropiano (CRD# 4761462).
Dominic Tropiano has spent 10 years in the securities industry and was most recently registered with America Northcoast Securities in Cleveland, Ohio (2016). Previous registrations include Key Investment Services in Chagrin Falls, Ohio (2008-2015); Natcity Investments in Cleveland, Ohio (2006-2008); and McDonald Investments in Cleveland, Ohio (2004-2005). He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received one regulatory sanction, one customer complaint, and six pending customer complaints.
In May 2019 FINRA sanctioned him in connection to allegations he recommended certain non-traditional exchange traded fund transactions despite his lack of any reasonable basis to believe they were suitable for his customers. FINRA’s findings state additionally that his recommendations were unsuitable for his customers’ investment profiles, and that he caused the execution of non-traditional ETF trades in their accounts without their knowledge or consent. According to FINRA, Mr. Tropiano was not properly registered with FINRA when he participated in securities business by soliciting non-traditional ETF transactions. In connection with these findings, he was indefinitely barred from acting as a broker or otherwise associating with a broker-dealer firm.
In 2017 a customer alleged Dominic Tropiano, while employed at America Northcoast Securities, failed in his supervisory duties, executed unauthorized ETF transactions, and recommended unsuitable investments. The customer is seeking $100,000 in damages in the pending complaint.
In 2016 a customer alleged Dominic Tropiano, while employed at America Northcoast Securities, breached his fiduciary duty, breached contract, committed fraud, and acted negligently. The customer is seeking $800,000 in damages in the pending complaint.
If you or someone you know has complaints regarding Dominic Tropiano, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.