Did you lose money investing with Christopher Orlando (CRD# 4136262)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Christopher Orlando. If you suffered losses investing with Christopher Orlando, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of February 19, 2023, Christopher Orlando’s FINRA BrokerCheck Report contains the following:
BARRED: FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
Disclosure Events
2 Customer Disputes
1 Regulatory Event
June 30, 2021 – An AWC was issued in which Orlando was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Orlando consented to the sanction and to the entry of findings that he engaged in quantitatively unsuitable trading in customer accounts. The findings stated that Orlando recommended high frequency trading in the customers’ accounts, and he often recommended the sale of one security and the simultaneous investment of the sale proceeds into a new security within short time periods. Orlando’s customers routinely followed his recommendations and, as a result, he exercised de facto control over the customers’ accounts. Orlando’s trading in the customers’ accounts was excessive and unsuitable given the customers’ investment profiles. As a result of Orlando’s excessive trading, the customers suffered collective realized losses of $483,680, while paying total trading costs of $581,216, including commissions of $496,872. (FINRA Case #2017056432603)
Current and Previous Registrations
01/07/2020 – 05/27/2021 SPARTAN CAPITAL SECURITIES, LLC (CRD#:146251) NEW YORK, NY
12/16/2019 – 01/02/2020 ST. BERNARD FINANCIAL SERVICES, INC. (CRD#:36956) RUSSELLVILLE, AR
11/04/2016 – 12/17/2019 WORDEN CAPITAL MANAGEMENT LLC (CRD#:148366) New York, NY
FINRA expelled the firm on 07/25/2022
07/22/2015 – 11/09/2016 LEGEND SECURITIES, INC. (CRD#:44952) NEW YORK, NY
FINRA expelled the firm on 04/17/2017
12/16/2013 – 07/17/2015 NATIONAL SECURITIES CORPORATION (CRD#:7569) RED BANK, NJ
06/20/2012 – 12/17/2013 JOSEPH GUNNAR & CO. LLC (CRD#:24795) UNIONDALE, NY
10/20/2009 – 06/22/2012 BROOKSTONE SECURITIES, INC. (CRD#:13366) STATEN ISLAND, NY
FINRA expelled the firm on 10/09/2012
08/01/2006 – 11/02/2009 J.P. TURNER & COMPANY, L.L.C. (CRD#:43177) STATEN ISLAND, NY
08/22/2005 – 08/01/2006 GUNNALLEN FINANCIAL, INC (CRD#:17609) STATEN ISLAND, NY
12/05/2002 – 08/31/2005 JOSEPH STEVENS & COMPANY, INC. (CRD#:35459) BROOKLYN, NY
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Christopher Orlando and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
