John Anthony Orlando of Melbourne Beach, Florida, a stockbroker currently registered with SW Financial LLC, is the subject of a FINRA investigation where FINRA has recommended that Orlando face disciplinary action founded on accusations of his violation of federal securities laws and FINRA rules. FINRA Investigation No. 20190636333 (February 22, 2022).
According to FINRA Public Disclosure, Orlando might face disciplinary action for potentially churning an investor’s account, violating FINRA Rules 2010 and 2020 as well as Securities Exchange Act of 1934 Section 10(b). The regulator states that Orlando potentially excessively traded in an investor’s account, violating FINRA Rules 2010 and 2111(a).
Orlando also potentially made unsuitable investment recommendations by failing to consider risks and terms of investments before making recommendations to customers, violating FINRA Rule 2010 and 2111. He potentially misrepresented transactions as unsolicited and falsified information on a compliance questionnaire, violating FINRA Rules 2010 and 4511. FINRA has not brought a disciplinary action against Orlando at this time.
FINRA Public Disclosure shows that Orlando has been identified in six more customer initiated investment related disputes regarding allegations of Orlando’s activities during the time that he was employed by WestPark Capital Inc. and Newport Coast Securities. Orlando is referenced in a customer initiated investment related arbitration claim in which the customer was awarded $85,001.00 in compensatory damages. The Statement of Claim alleges that unsuitable recommendations were made by Orlando concerning penny stocks and corporate bonds. FINRA Arbitration No. 17-01615 (April 30, 2018). Orlando allegedly overconcentrated the customer’s accounts in those investments.
On July 13, 2020, another customer initiated investment related arbitration claim concerning Orlando’s activities was resolved for $9,500.00 in damages based upon accusations of bad advice by Orlando as it pertained to equity trades at SA Stone Wealth Management. FINRA Arbitration No. 20-00924.
Orlando is also identified in a customer initiated investment related arbitration claim where the customer requested $1,200,000.00 in damages supported by allegations of breach of contract and fraud in regard to the private placements and equity transactions through Orlando at WestPark Capital and Newport Coast Securities. FINRA Arbitration No. 21-02353 (October 18, 2021). The claim alleges unsuitable and unauthorized trading. The customer’s account was overconcentrated in alternative investments, according to the claim.
On November 24, 2021, another customer initiated investment related arbitration claim involving Orlando’s conduct was settled for $30,000.00 in damages founded on accusations of breach of fiduciary duty and negligence relating to the customer’s investment in Horizon Fund between August 2016 and March 2017, when Orlando was registered with WestPark Capital. FINRA Arbitration No. 20-02201 (November 24, 2021).
Orlando is the subject of a different customer initiated investment related arbitration claim that was resolved for $1,050,000.00 in damages based upon allegations of unsuitable margin use and excessive trading while Orlando was employed by WestPark Capital and Newport Coast Securities. FINRA Arbitration No. 20-01721 (February 18, 2022). According to the claim, the customer was placed in unsuitable private placements by the stockbroker.
Orlando has been associated with thirteen different broker-dealers, and at least ten of them have have been expelled by regulators ir are otherwise defunct. Since November 5, 2019, Orlando has been registered with SW Financial as a stockbroker.
