Securities Arbitration Lawyers BlogThomas Joseph Borruso’s Career in the Securities Industry is Over
The former New York broker has been accused of over-concentration
Thomas Borruso can no longer act as a broker in the securities industry. In June of this year, he received a suspension from the Financial Industry Regulatory Authority (FINRA) stemming from a customer dispute. And when Borruso failed to provide FINRA with information it needed, the agency barred him permanently.
The dispute Borruso was involved in occurred in January of 2017. A customer alleged that Borruso over-concentrated the account in one equity position. The damages sought haven’t been specified, but they are believed to be over $5,000. The case is still pending.