Michael Rosalia (Worden Capital) Barred By FINRA Following Excessive Trading Investigation

FINRA barred securities broker Michael Richard Rosalia [CRD: 2323953, Melville, New York], based on publicly available information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Rosalia worked with SW Financial from April 5, 2021, until August 29, 2022, before the firm itself was expelled by FINRA in May 2023. Before that, he was employed at Worden Capital Management LLC from December 2, 2015, to April 12, 2021, a firm that was later expelled by FINRA in July 2022. Continue reading to learn more about the actions and findings tied to Rosalia’s career in the securities industry.

FINRA Sanctioned Rosalia For Failing To Testify

On November 12, 2024, FINRA issued Case No. 2019060753508 that resulted in sanctions against Michael Rosalia. He was permanently barred from working with any FINRA-regulated brokerage firm. FINRA determined that Rosalia failed to comply with its repeated requests for testimony as part of an investigation into whether he engaged in excessive and unsuitable trading in client accounts while at Worden Capital Management LLC.

Records show that throughout early 2024, FINRA issued multiple notices directing Rosalia to appear for on-the-record testimony. Although he acknowledged receiving these notices, he either declined to attend or stated he would not appear. By refusing to cooperate, FINRA alleged that Rosalia violated FINRA Rule 8210 and FINRA Rule 2010. Because he did not respond to the complaint, FINRA entered a default decision on October 15, 2024, making the permanent bar final the following month.

Worden Capital Management LLC Investor Accused Michael Rosalia Of Breach Of Contract, Negligence

Evidently, on March 21, 2022, a Worden Capital Management LLC client filed FINRA Arbitration No. 22-00347 about Michael Rosalia. Primarily, the client alleged that Rosalia breached a contract, was negligent, made unsuitable recommendations, engaged in unauthorized trading, charged excessive commissions, and churned accounts. Because of this, the client allegedly incurred damages linked to over-the-counter equities and stocks. As a result, the client requested $229,696.00 in compensation from Worden Capital Management LLC or Rosalia. It appears that this arbitration is pending a resolution.

Rosalia Disclosed Misrepresentation, Churning Allegations By Worden Capital Management LLC Client

Evidently, a client of Worden Capital Management LLC contested Michael Rosalia’s sales practices by bringing FINRA Arbitration No. 21-02186. Allegedly, Rosalia negligently supervised, failed to supervise, engaged in unsuitable trading, churned accounts, made misrepresentations, omitted material facts, and breached a contract. Therefore, FINRA Arbitrators issued an Award dated December 12, 2022 compelling Worden Capital Management LLC or Rosalia to compensate the client in the amount of $2,000.00.

Worden Capital Management LLC Investor Accused Michael Rosalia Of Unauthorized Trading

Additionally, a client filed a complaint about Michael Rosalia. Mainly, the client claimed that Rosalia engaged in unauthorized trading involving over-the-counter equities and stocks. For this reason, on January 30, 2020, Worden Capital Management LLC settled this matter by paying the client $4,000.00 in damages.

Impacted By Financial Advisor / Securities Broker Rosalia?

Are you concerned regarding investments you made with Michael Rosalia? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk to a securities attorney concerning your legal rights and options. Soreide Law Group has recovered losses for investors located throughout the country. Also, the firm works on a contingency fee basis and advances all costs. Rosalia and the brokerage firms where he worked deny any wrongdoing.