Christopher George Orlando of New York New York a stockbroker formerly registered with Spartan Capital Securities LLC is the subject of a FINRA investigation where the regulator recommended for Orlando to face disciplinary action by FINRA Department of Enforcement for allegedly trading on an excessive basis in customer accounts. Case No. 20170564326 (Sept. 18, 2020).
According to FINRA Public Disclosure, Orlando might face a disciplinary action from FINRA Department of Enforcement founded on him possibly recommending an active trading strategy that was not suitable for customers and for possibly making excessive trades in customer accounts violating FINRA Rules 2010 and 2111. FINRA stated that Orlando possibly churned customers’ accounts in violation of Securities Exchange Act of 1934 Section 10(b), Securities and Exchange Commission (SEC) Rule 10b-5 and FINRA Rules 2010 and 2020.
Orlando has been identified in two customer initiated investment related disputes pertaining to his alleged wrongdoing during the time that he was registered with Brookstone Securities Inc. and National Securities Corp. FINRA Public Disclosure reveals that a customer filed an investment related complaint involving Orlando’s conduct in which the customer requested $16,579.61 in damages based upon allegations that the customer was pressured by Orlando into purchasing stocks and over-the-counter equities in which excessive fees and commissions were charged to the customer.
Another customer filed an investment related complaint involving Orlando’s conduct where the customer requested $17,000.00 in damages based upon accusations that transactions effected in the National Securities Corp customer’s account were not suitable for the customer. The claim also alleges that misrepresentations had been made by the stockbroker in regard to over-the-counter equities.
Orlando was registered with Worden Capital Management LLC between November 4, 2016 and December 17, 2019. He has been registered with Spartan Capital Securities since January 7, 2020.
