January 2019- Garden City, NY
According to publicly available records Michael Christopher Venturino , a stockbroker who is currently employed by Spartan Capital Securities and was formerly employed by Aegis Capital Corp. and Trident Partners, disclose a prior regulatory event, 3 pending customer disputes, 4 prior customer disputes and a recent Chapter 7 bankruptcy filing.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In July 2018 Venturino was suspended indefinitely by FINRA for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
In 11/2017 a former customer from his prior firm, Aegis Capital was paid $16,500 to resolve allegations that Venturino traded the account without permission from 11/2016-6/2017.
In 6/2017 a customer of Aegis Capital was paid $142,500 to resolve allegations that Venturino excessively traded the account and traded it without permission from 6/2014-1/2016.
The currently pending suits, by customers of Aegis Capital ,include:
- FINRA Case 18-2948- alleges that Venturino churned their account and made unsuitable trades and seeks damages of $290,359
- FINRA Case 18-408-alleges unauthorized trading by Venturino and unsuitable recommendations and seeks damages of $1,280,623.
Venturino discloses that he filed Chapter 7 bankruptcy in 1/2019 in the Federal Court for the Eastern District of New York.
Venturino has been employed by Spartan Capital since 4/2018.
If you have losses in an account handled by Michael Venturino, contact us for a no charge consultation to learn how you may be entitled to recover damages through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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