FINRA Expels Daniel Pita

Soreide Law Group is investigating possible investor claims against securities broker Daniel Pita (CRD: 6759879, Southwest Ranches, Florida). Notably, FINRA sanctioned the securities broker, who worked for NYLife Securities LLC. Allegedly, Pita failed to provide information and documents to FINRA when it investigated him. Supposedly, FINRA tried to determine if he engaged in impermissible outside business activities. Here is a brief summary of FINRA’s allegations against Pita.

FINRA Sanctions Pita For Failure To Provide Information

Supposedly, on December 23, 2022, FINRA issued Decision No. 2021071965401 sanctioning Daniel Pita for infractions. Specifically, Pita was barred as a securities broker. Notably, FINRA alleged that Pita failed to provide information and documents to FINRA when it investigated potential FINRA rule violations regarding outside business activities.

Notably, on December 10, 2021, NYLIFE submitted a notice to terminate Pita's securities industry registration for administrative reasons. The investigation began from a regulatory tip alleging that Pita concealed his outside business activities (OBAs) while working at NYLIFE. Particularly, Pita's failure to provide the requested information and documents prevented FINRA from investigating the potential undisclosed OBAs. This hindered FINRA's ability to determine if Pita had violated FINRA Rules 3270 and 2010. Supposedly, Pita's actions violated FINRA Rules 8210 and 2010 for failing to comply with five separate requests to provide information and documents. As a result, Pita is now barred from associating with any FINRA member firm in any capacity, taking into account the relevant facts and applicable sanctions.

Daniel Pita Employment Information

Evidently, Pita worked for NYLife Securities LLC in Southwest Ranches, Florida, as a securities broker from May 1, 2018, to December 10, 2021.

Damages Resulting From NYLife Securities LLC Securities Broker Pita?

Suffer damages through Daniel Pita? If you have, reach out to Soreide Law Group at (888) 760-6552 and talk with an investment lawyer about a possible recovery of your losses. Soreide Law Group, who has successfully recovered money for investors in all 50 states, represents investors on a contingency fee basis and advances all costs. Pita and brokerage firms Pita worked for deny any and all allegations of sales practice violations.