FINRA Bars Financial Advisor John Santariello after Allegations of Churning, Excessive Trading, Unsuitability
According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred financial advisor John Santariello (CRD#: 5746158) from association with any FINRA member in all capacities after he reportedly failed to request termination of his suspension within three months of the date of the Notice of Suspension.
Santariello reportedly has a customer complaint pending form August 2019 for allegations of churning, excessive trading, and unsuitability, according to his FINRA BrokerCheck profile. The damage amount requested is $307,042.00. A previous customer dispute was reportedly settled in 2014 for allegations of “unsuitable excessive trading of high-risk speculative stocks”. According to the broker comment, Satariello, to his knowledge wasn’t named in the dispute and it was filed against his “former firm as well as registered representative still employed there.” His broker report also indicates one financial and one criminal disclosure.
According to his broker record, Santariello was affiliated with the following firms among others.
07/05/2016 – 10/08/2018, ARIVE CAPITAL MARKETS (CRD#:8060), Coram, NY
08/11/2015 – 06/27/2016, CAPE SECURITIES INC. (CRD#:7072), LAKE GROVE, NY
07/08/2015 – 07/10/2015, JOSEPH GUNNAR & CO. LLC (CRD#:24795), MELVILLE, NY
03/10/2014 – 05/26/2015, WILMINGTON CAPITAL SECURITIES, LLC (CRD#:133839), MELVILLE, NY
08/21/2013 – 02/12/2014, NATIONAL SECURITIES CORPORATION (CRD#:7569), MILLER PLACE, NY
Recovery of Investment Losses
The White Law Group is investigating potential securities fraud claims involving John Santariello and the liability his employers may have for failure to properly supervise him.
When brokers violate securities laws, such as making unauthorized transactions or unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.
We represent investors in FINRA arbitration claims in all 50 states including New York. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
If you are concerned about your investments with John Santariello, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.
Tags: FINRA arbitration, John Santariello churning, John Santariello complaints, John Santariello Coram NY, John Santariello financial advisor, John Santariello FINRA, John Santariello investigation, John Santariello lawsuit, securities fraud attorney Last modified: October 26, 2021