Last Updated: June 2024 (Garden City, NY)
Michael Vincent Restagno Investigation Summary
Here’s what you need to know about Garden City, NY stockbroker Michael Vincent Restagno:
- Name: Michael Vincent Restagno
- Current Employer: Dominari Securities LLC
- Prior Employer: Aegis Capital
- Function: Stockbroker / Financial Advisor
- Primary Location: Garden City, NY
- CRD Number: 5532695
- Can Michael Vincent Restagno be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Highest Settlement or Award: $92,500
- Pending Customer Dispute Seeks Damages of: $150,000
If you’ve sustained damages from Mr. Restagno, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Michael Vincent Restagno As Your Stockbroker?
A customer of National Securities Corporation has filed a FINRA arbitration seeking damages of $150,000. The customer alleges that Michael Restagno invested client funds in risky, illiquid REITs (real estate investment trusts). FINRA case number 22-00162.
[LEARN MORE]: See this for more information on REITs and Other Alternative Investments
Allegations of Broker Misconduct Against Michael Vincent Restagno
Allegations
Customers of Michael Vincent Restagno have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable investments
- Unauthorized trading
- Breach of fiduciary duty
- Negligence
- Misrepresentation and omissions of material facts
- Excessive Trading
- Investments not consistent with conservative investment objective
[LEARN MORE]:
Solicited vs Unsolicited Trades
Other Cases Involving Unauthorized Trading
Discretionary vs. Non-Discretionary Accounts
What is Excessive Trading (Churning)?
Churning According to U.S. Securities and Exchange Commission (SEC)
Other Investigations Involving Churning
Detailed Information
Previously, Michael Restagno settled a dispute with a customer of National Securities Corp. for $92,500 in 2023. The allegations in that case included unsuitable investments, unauthorized trading, breach of fiduciary duty, and negligence.
In 2022 another case filed by a customer of Aegis Capital was settled for $50,000. The allegations include unsuitable, excessive and unauthorized trading.
Brokers and their firms have a duty to comply with FINRA rules, including the suitability rule (FINRA Rule 2111), which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer. Allegations such as unsuitable investments and breach of fiduciary duty suggest potential violations of these obligations.
Recover Your Investment Losses Now With Rex Securities Law
[LEARN MORE]:Investigations of Aegis Capital and Aegis Capital Brokers-Lawsuits, Arbitrations & Disputes
If you have suffered investment losses in an account handled by Michael Vincent Restagno, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.