Brian Arthur Salerno of Lake Mary, Florida, a stockbroker registered with CNR Securities LLC and investment advisor representative of City National Rochdale LLC, has been ordered to pay a fine of $45,500.00 by Florida Office of Financial Regulation because Salerno gave investment advice in Florida without being registered by the regulator. Case No. 116642-SR (October 27, 2023).
Florida Office of Financial Regulation found that Salerno violated Florida Statutes 517.12(4), by offering investment advice without proper registration in the state. Salerno agreed to a Stipulation and Consent Agreement, requiring him to cease any further violations of Florida securities laws.
This is not the first time that Salerno has been the subject of a regulatory action concerning his conduct in the securities industry. Public Disclosure shows that Salerno’s registration was denied by Florida Office of Financial Regulation because Salerno failed to timely respond to the Office’s request for information in violation of Florida Administrative Code Rule 69W-600.0024(2). Case No. 2021.DOS.2.OFR (January 13, 2021).
Salerno has been associated with CNR Securities LLC in Lake Mary, Florida since November 24, 2015. He is also registered with City National Rochdale, also based in Lake Mary, Florida, as of October 8, 2015.
