Former Arive Capital Markets Broker Michael Digioia Suspended by FINRA

Arive Capital Markets

Erez Law is currently investigating former Arive Capital Markets broker Michael Digioia (CRD# 4073951), who is accused of unsuitable investment recommendations. He was registered with the following firms:

  • Lampost Capital, L.C. in Boca Raton, Florida, from 2020 to 2022
  • Arive Capital Markets in Bay Ridge, New York, from 2018 to 2019
  • Vision in Stamford, Connecticut, from 2016 to 2018
  • Rothschild Lieberman LLC in New York, New York, from 2015 to 2016

In September 2023, FINRA suspended him indefinitely related to allegations that he “failed to comply with an arbitration award or settlement agreement or to satisfactory respond to a FINRA request to provide information concerning the status of compliance.”

Michael Digioia Customer Complaints

He has been the subject of one customer complaint, according to his CRD report:

May 2021. “Claimant claims unsuitable recommendations for investments from November 1, 2016.” The customer sought $150,000 in damages, and the customer was granted $150,000 in compensatory damages plus 9% per annum from January 1, 2019 through and including the date the award is paid. According to the award, the client “asserted the following causes of action: breach of fiduciary duty; violation of NASD and FINRA Rules; failure to supervise; negligence; breach of contract; and respondeat superior. The causes of action relate to purchase of stocks in Nostrum Holdings Inc.”

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Arive Capital Markets may be liable for investment or other losses suffered by Michael Digioia’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.

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Author: Jeffrey Erez

The founder of Erez Law, Jeffrey Erez, focuses exclusively on securities arbitration and litigation. Mr. Erez passionately believes in representing aggrieved investors and obtaining justice for his clients through litigation.