Brian Dijulio Allegedly Engages In Unapproved Discretionary Trading

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Brian Dijulio. According to his publicly available FINRA BrokerCheck report, Brian Dijulio has been the subject of multiple customer disputes.

Brian Dijulio was a Washington based securities broker. He worked in the securities industry for thirty-one years. During his career, he was registered with nine different securities firms.

His Registrations

• E.F. Hutton & Company (1987-1988)


• Smith Barney, Harris Upham & Co. (1988-1990)


• CIBC Oppenheimer (1990-1997)


• First Montauk Securities (1997-2005)


• The Concord Equity Group (2005-2008)


• Paulson Investment Company (2008-2012)


• JHS Capital Advisors (2012-2015)


• NBC Securities (2015-2018)

The Allegations

• In August 1990, a customer alleged that Brian Dijulio recommended unsuitable securities, engaged in unauthorized trading and engaged in unauthorized trading on margin. This case was settled for $65,000 in damages.


• In May 1991, a customer alleged that Brian Dijulio recommended unsuitable securities and engaged in excessive trading. This case was settled for $74,500 in damages.


• In April 1993, customers alleged that Brian Dijulio excessively traded their account, engaged in unauthorized trading, and recommended unsuitable investments. This case went to arbitration where the customer was awarded $145,962 in damages.


• In December 2004, another customer alleged that Brian Dijulio engaged in unauthorized trading, traded their account excessively, and recommended unsuitable investments. This case was settled for $105,000 in damages.


• Brian Dijulio was officially sanctioned by FINRA in July 2019. The findings in this matter state that he exercised discretion in customers' accounts without the necessary written authorization. Due to these allegations, Brian Dijulio was fined $7,500 and suspended from acting as a securities broker in any fashion for a period of three months. He resigned from his position at NBC Securities the previous November due to the allegations.

What is Discretion?

Securities brokers like Brian Dijulio are not allowed to execute trades on behalf of investors without first obtaining their authorization. Just because an investor has hired a securities broker it does not mean they have forfeited their right to have the final say of what securities they are invested in. The job of a securities broker is to present investments to their customers and advise them about what to do.

There is a trading practice known as discretion where securities brokers can execute trades in a customer's account without first obtaining their authorization. However, before a broker can begin this discretionary trading, they must first receive express written permission from the account holder. Verbal authorization is not good enough because it can often lead to investors agreeing to something they do not fully understand.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Brian Dijulio, please contact Oakes & Fosher for a free and private consultation.