Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Arive Capital Stockbroker Sanctioned By FINRA For Excessive Trading

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Christopher Alexander Polinaire (also known as Chris Polinaire), of Hauppauge, New York, a stockbroker registered with Arive Capital Markets, has been fined $7,500.00 and suspended for eight months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Polinaire engaged in excessive trading and made unsuitable recommendations. Letter of Acceptance, Waiver, and Consent No. 2020066685701 (November 1, 2022).

According to the AWC, between August 2017 and March 2020, during the time that he was associated with Arrive Capital Markets, Polinaire engaged in unsuitable and excessive trading in three customers’ accounts.

In one customer’s account, for example, Polinaire recommended that the customer make 58 trades between February of 2019 and January of 2020. The customer’s account had average month end equity of $75,334.00, but Polinaire recommended transactions with a total principal value of $2,221,255.00. This resulted in an annualized turnover rate of 29.49 and an annualized cost to equity ratio of 65.34 percent. The customer paid $44,243.00 in commissions and fees.

Polinaire violated FINRA Rules 2010 and 2111.

Polinaire was associated with First Standard Financial Company LLC in Garden City, NY, from November of 2016 to June of 2017; Arive Capital Markets in Ronkonkoma, NY, from June of 2017 to November of 2020; and Network1 Financial Securities Inc. in Hauppauge, NY, from February of 2021 to October of 2022.