FINRA Bars Rep for Unauthorized Trades for a Retiree

Posted on March 29th, 2017 at 10:38 AM
FINRA Bars Rep for Unauthorized Trades for a Retiree

From the Desk of Jim Eccleston at Eccleston Law LLC:

FINRA has barred former registered representative, Craig David Dima from the securities industry for making unauthorized and unsuitable trades. Mr. Dima neither admitted nor denied the charges, but consented to FINRA’s findings and sanction.

FINRA allegedly found that Mr. Dima sold virtually all of the customer's Colgate-Palmolive stock, without his customer’s permission.  Mr. Dima’s customer was a retiree who accumulated over 28 years of employment at Colgate-Palmolive. The customer considered the stock to be a valuable long-term investment and a reliable source of dividends. Mr. Dima charged his customer more than $375,000 in mark-ups, mark-downs and fees and his customer lost approximately $127,000 in dividends that he would have received from the Colgate-Palmolive stock.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial investors including Securities FraudUnauthorized TradingBreach of Fiduciary DutyRetirement Planning Negligence, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, James Eccleston, Eccleston Law LLC

Return to Archive



Fantastic news!!!!  Your professionalism, support and expertise were greatly appreciated.  You made a difficult situation much more bearable.

Marci M.


October 20, 2021
5 First-of-Their-Kind SEC Enforcement Actions Announced

Securities and Exchange Commission (SEC) Enforcement Director Gurbir Grewal recently discussed notable first-of-their-kind enforcement actions that his division has pursued.

October 19, 2021
FINRA Targets SPACs in Most Recent Exam Sweep

The Financial Industry Regulatory Authority (FINRA) has begun an examination sweep of advisors’ involvement with special purpose acquisition companies (SPACs).

October 18, 2021
SEC’s Statement on Complex Exchange-Traded Products

The Securities and Exchange Commission (SEC) recently voted to approve a pair of rule changes proposed by Cboe BZX Exchange, Inc. to list and trade shares of new exchange traded-products: the 2x Long VIX Futures ETC and the -1x Short VIX Futures ETF.