Sonn Law Group is investigating claims regarding Joseph Barton DiRago Jr. (CRD #1249641, San Antonio, Texas). DiRago recently submitted a Letter of Acceptance, Waiver and Consent (“AWC”) in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for 15 business days. See FINRA Case #2013036168801. DiRago has been associated with Wells Fargo Advisors, LLC, since December 2012. DiRago previously was associated with Morgan Stanley.
FINRA found that DiRago effected transactions while exercising discretion in a customer’s account without the customer’s prior written authorization and without his member firm’s written permission. In entering into the AWC, DiRago neither admitted nor denied FINRA’s findings.
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, Morgan Stanley or Wells Fargo Advisors may be liable for investment or other losses suffered by DiRago’s customers.
If you were a client of Morgan Stanley, Wells Fargo Advisors, or DiRago, and have suffered investment losses or financial irregularities, please contact Sonn Law Group to explore your legal options. Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our “contact form.”