Category Archives: Foresters Equity Services

Michael Rappa-Former Foresters Equity Services Broker Barred from FINRA-Discloses Regulatory Event and Two Pending Customer Disputes-Rocklin, CA

June 2020- San Diego, CA

The FINRA records of Michael Rappa, a broker previously employed  by  Foresters Equity Services,  disclose  a regulatory event resulting in his bar from the securities industry and two pending customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In February 2019, Rappa was permanently barred from the securities industry by the Securities and Exchange Commission after allegations that he engaged in undisclosed and unapproved private securities transactions.  The findings stated that Rappa solicited investors to purchase promissory notes relating to a purported real estate investment fund.   Rappa sold $2,731,287 in the fund’s notes to investors, some of whom were customers from his member firm and he received a total of $109,939 in commissions in connection with these transactions.   Later the fund filed a voluntary Chapter 11 bankruptcy petition.

In March 2018,  a customer of Foresters Equity Services, Inc., filed FINRA case 18-1103 alleging that Rappa made unsuitable private securities transaction recommendations and is seeking damages of $75,000.   This case is still pending.

In February 2018, a customer of Foresters Equity Services, Inc., filed FINRA case 18-552 alleging that Rappa made unsuitable private securities transaction recommendations and seeks damages of $700,000.  The case is pending.

From March 2018 until February 2019,  Rappa was employed by LifePro Asset Management.    He was employed with Foresters Equity Services, Inc.  from September of 2010 until July of 2017.  Before that he worked with Princor Financial Services Corporation, Metlife Securities, Inc.  and Metropolitan Life Insurance Company.    

If you have problems in an account  handled by Michael Rappa call for a no charge consultation .

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Edward Rizzotto – Foresters Equity Services Broker- Discloses Customer Dispute -Largo, FL

May 2017- Largo, FL

According to publicly available records Edward  G. Rizzotto (CRD#3213517) ,  a  stockbroker who  is registered with Foresters Equity Services, Inc.  discloses a settled customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

A customer of Foresters Equity Services, Inc.,  was paid $26,377 in June 2015  to resolve allegations that they were sold an unsuitable investment.

Rizzotto has been employed  with Forester Equity Services, Incsince 7/2014.  Prior registration included Midamerica Financial Services  and  GWN Securities.

If you have questions about an account in an account handled by Edward Rizzotto contact us to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870