Daniel Pita of Southwest Ranches, FL, a stockbroker registered with NYLife Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member because Pita failed to provide information and documents to FINRA when it investigated possible violations of FINRA rules. Department of Enforcement v. Daniel Pita, Default Decision, Disciplinary Proceeding No. 2021071965401 (November 29, 2022).
According to the Decision, Pita became the subject of an investigation when FINRA learned that Pita potentially did not inform NYLife Securities LLC about his outside business activities. The securities broker dealer indicated in a Uniform Termination Notice for Securities Industry Registration that Pita’s registration was terminated for administrative purposes.
The Decision states that on March 7, 2022, Pita was asked by FINRA to provide documents and information, including tax returns, account statements, and a list of any outside business activities that Pita engaged in during the time that he was registered with NYLife Securities LLC. The Decision also states that FINRA attempted to contact Pita by phone concerning the investigation. Pita was unresponsive to FINRA’s requests for his information and documents.
Because of Pita’s repeated failure to respond to the regulator’s requests, FINRA filed a Complaint against him. Pita failed to respond to the Complaint. Therefore, FINRA Office of Hearing Officers found that Pita violated FINRA Rules 2010 and 8210.
Pita was associated with NYLife Securities LLC in Southwest Ranches, FL, as a stockbroker from May of 2018 to December of 2021.
