Robert D’Andria, Broker for International Asset Advisory, LLC, Suspended by FINRA for Two Months

D’Andria allegedly recommended unsuitable NT-ETPs to his clients.

The Sonn Law Group is investigating allegations that Robert D’Andria made unsuitable investment recommendations. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

robert-dandria-suspended-two-monthsRobert James D’Andria (CRD#: 1916172) consented to the sanctions and to the entry of findings by FINRA that he recommended the purchase of non-traditional exchange-traded products (NT-ETPs) to customers without having a sufficient understanding of the risks and features associated with these NT-ETPs and thereby failing to have a reasonable basis to make these recommendations. 

The findings stated that D’ Andria failed to perform a reasonable basis suitability analysis of NT-ETPs to understand the unique features and specific risks associated with these products before offering them to his customers. In fact, the prospectuses for the NT-ETPs that D’Andria recommended warned that the products were risky, intended to be daily trading tools for sophisticated investors, and should be actively and frequently monitored, even intra-day. Moreover, D’ Andria did not understand that losses in NT-ETPs are compounded because of how the valuations reset each day. 

The findings also stated that the customers held these positions for periods ranging from 30 to 758 days. The average holding period was 327 days. These extended holding periods caused D’ Andria’s customers to incur approximately $93,000 in losses. D’ Andria’s member firm consented to supervision charges in relation to his unsuitable recommendations of NT-ETPs and agreed to a fine and order of restitution to be paid to the affected customers.

D’Andria was suspended for a period of two months and fined $5,000. D’Andria has five other disclosures on his BrokerCheck report.

April 2003 Regulatory Judgment

January 2001 Employment Separation After Allegations

August 2000 Customer Dispute

May 2000 Customer Dispute

January 2000 Customer Dispute

Contact Us Today

The Sonn Law Group is currently investigating allegations that Robert D’Andria made unsuitable investment recommendations. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.