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Philip Dina Received Two Regulatory Sanctions

Philip DinaPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on September 2, 2016 indicate that New Jersey-based Network 1 Financial broker Philip Dina is the subject of several pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Dina (CRD# 1368917).

Philip Dina has spent 28 years in the securities industry and has been registered with Network 1 Financial in Red Bank, New Jersey since 2013. Previous registrations include Obsidian Financial Group, which has since been expelled by FINRA, in Woodbury, New York; Mercer Capital in New York, New York; Utendahl Capital Group in New York, New York; National Securities in Seattle, Washington; E Street Access, which has since been expelled by FINRA, in Englishtown, New Jersey; Mercer Partners in New York, New York; Millennium Securities, which has since been expelled by FINRA, in New York, New York; Dina Securities in Wayne, New Jersey; All-Tech Investment Group, which has since been expelled by FINRA, in Montvale, New Jersey; and Blinder Robinson & Company. He is a registered broker with New Jersey and New York.

According to his BrokerCheck report, Philip Dina has received two regulatory sanctions and four pending customer complaints.

In July 2016, a customer alleged Philip Dina, while employed at Obsidian Financial Group, acted negligently, failed to supervise, misrepresented material facts, breached his fiduciary duty, and breached contract. The customer is seeking $17,295 in damages in the pending complaint.

In May 2016, a customer alleged Philip Dina, while employed at Obsidian Financial Group, failed to “establish and enforce a reasonable supervisory system designed to prevent securities violations.” The customer is seeking $174,162.67 in damages in the pending complaint.

In May 2016, a customer alleged Philip Dina, while employed at Obsidian Financial Group, failed to “ensure that the system to monitor excessive trading was adequately implemented and enforced.” The customer is seeking $109,655 in damages in the pending complaint.

In March 2016, a customer alleged Philip Dina, while employed at Obsidian Financial Group, “failed to adequately supervise the firm’s registered representatives.” The customer is seeking $27,574 in damages in the pending complaint.

In 2000, the National Association of Securities Dealers sanctioned Philip Dina following allegations he “failed to supervise the activities of his firm’s FINOP in that the firm continued to conduct a securities business despite the fact that it was not in net capital compliance on two occasions.” He was censured and issued a fine of $5,000.

In 1998, the National Association of Securities Dealers sanctioned Philip Dina following allegations his member firm, Dina Securities, acting through him, allowed an individual to enter trades on behalf of a public customer, though the individual was not properly registered with the NASD. He was censured and issued a fine of $2,500.

If you have complaints regarding Philip Dina, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.