Thomas Diamante

Thomas Diamante entered into a FINRA Acceptance, Waiver, and Consent. Diamante allegedly deceived investors with the sale of private placement offerings of pre-initial public offering funds. SW Financial, Diamante’s company, stated it would receive 10% of sales from the sale of the offerings; however, Diamante had entered into an agreement with the issuer whereby SW Financial would receive additional compensation. Diamante then failed to disclose this to others at SW Financial and as a result, the firm negligently misrepresented and omitted material facts to investors. Additionally, Diamante failed to reasonably supervise, failed to perform reasonable due diligence, and more. Diamante consented, without admitting or denying the claims, to a nine month suspension and a $50,000 fine.