Tamara Totah: $7mm Complaint Against Old City Securities Advisor

A recent investor complaint against New York, New York financial advisor Tamara Totah (CRD# 6592304) alleges that her advice resulted in seven-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Old City Securities.

Ms. Totah’s BrokerCheck report discloses one investor complaint. Filed in August 2026, it alleges that as a representative of Old City Securities, she recommended unsuitable investments, misrepresented and omitted material facts, and violated securities laws in connection with an investment in MARS FX, described as “a private pooled investment fund that filed for Chapter 11 bankruptcy protection in March 2026.” The pending complaint alleges damages of $7,250,000.

FINRA rules stipulate that brokers like Ms. Totah can only recommend that their clients invest in what are known as suitable investments and/or strategies. What this means, according to FINRA Rule 2111, is that brokers must “have a reasonable basis to believe that a recommended transaction or investment strategy” is appropriate for a customer’s background and objectives. They must arrive at this basis through reasonable diligence into the customer’s investment profile. They are similarly required by FINRA Rule 2020 to make their recommendations without using “manipulative, deceptive or other fraudulent device[s] or contrivance[s],” while FINRA Rule 2010 requires them to “observe high standards of commercial honor and just and equitable principles of trade.” In other words, brokers may not make misrepresentations of material facts relating to the investments they recommend, as these misrepresentations may lead investors to purchase unsuitable products. FINRA-registered persons who advise their clients to invest unsuitably may be found liable in the event of losses.

According to the Financial Industry Regulatory Authority, Tamara Totah holds eight years of securities industry experience. Based in New York, New York, she has been registered as a broker with Old City Securities since 2019. She was previously registered with Niagara International Capital. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Limited Representative-Private Securities Offerings, or Series 82; and the Uniform Securities Agent State Law Examination, or Series 63. She holds 2 state licenses. (Information current as of September 19, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.