Andrew Caputo Spaventa of Farmingdale New York a stockbroker formerly employed by Salomon Whitney Financial is the subject of a customer initiated investment related arbitration claim where the customer sought $114,357.00 in damages supported by accusations that Spaventa (1) breached his contractual obligations to the customer (2) effected unauthorized trades in the customer’s account (3) executed unsuitable transactions (4) negligently serviced the customer’s account and (5) churned the customer’s equity portfolio. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01055 (Apr. 3, 2018).
FINRA Public Disclosure additionally confirms that Spaventa’s registration with Salomon Whitney was denied by the Florida Office of Financial Regulation based upon Spaventa’s consent to the Office’s findings that he made a false statement in connection with his registration application. Case No. 54961-SR (Oct. 17, 2014).
Spaventa’s employment with Salomon Whitney Financial was terminated on December 12, 2016. Since September 13, 2017, Spaventa has been registered with Network 1 Financial Securities Inc.
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