Thomas Borruso Allegedly Breaches His Fiduciary Duty

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Thomas Borruso. According to his publicly available FINRA BrokerCheck report, Thomas Borruso has been the subject of a customer dispute.

Thomas Borruso was a New York based securities broker. He worked in the securities industry for eight years. During his career, he was registered with three different securities firms.

His Registrations

• National Securities Corporation (2008-2014)


• Rockwell Global Capital (2014)


• LPL Financial (2014-2016)

The Allegations

In March 2018, a customer alleged that Thomas Borruso violated the Florida Securities Act, engaged in common law fraud, breached contract, breached his fiduciary duty, and made negligent misrepresentations. This case went to arbitration where the customer was awarded $550,000 in damages.

What Does This Mean?

The only reason the relationship between investors and securities brokers even exists is because of trust. Investors would not be able to leave their money with a separate party if they could not trust them with it. The reason this trust exists is because brokers are bound by their fiduciary duty to always act in their customer's best financial interests. Securities brokers who breach this fiduciary duty work toward the erosion of that trust and the eventual downfall of the investor/broker relationship.

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 actually 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 Thomas Borruso, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.