Andrew Caputo Spaventa of Melville New York a stockbroker formerly registered with Salomon Whitney Financial has been suspended on September 6, 2019 from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon accusations of Spaventa’s failure to comply with a customer initiated investment related settlement agreement.
FINRA Public Disclosure confirms that Spaventa is the subject of a customer initiated investment related arbitration claim which was resolved for $14,999.00 in damages supported by allegations that when Spaventa was employed by Salomon Whitney Financial: contractual duties had been breached; trades were effected without the customer’s knowledge or consent; stock trades failed to be suitable; the customer’s account was negligently serviced; and the account was churned. FINRA Arbitration No. 18-01055 (June 26, 2019). Spaventa reportedly failed to confirm with FINRA whether he complied with the settlement of this dispute.
This is not the first time that Spaventa has been sanctioned by a securities regulator. Specifically, Spaventa is the subject of a Final Order issued by Florida Office of Financial Regulation in which Spaventa’s stockbroker registration was denied founded on accusations that Spaventa lied to the Office of Financial Regulation when attempting to become registered as a stockbroker in Florida. Case No. 54961-SR.
