Orlando reportedly generated commissions of $496,872 through the excessive trades.
Christopher George Orlando (CRD#: 4136262) was registered as a broker with Spartan Capital Securities from 2020 until 2021. Previously, Orlando was registered as a broker with St. Bernard Financial Services from 2019 until 2020.
Orlando has three disclosures on his BrokerCheck report. One customer dispute filed against Orlando was denied and the other was closed with no action taken.
August 2021 Regulatory Judgment
- Status: Final
- Initiated By: FINRA
- Allegations: Without admitting or denying the findings, Orlando consented to the sanction and to the entry of findings that he engaged in quantitatively unsuitable trading in customer accounts. The findings stated that Orlando recommended high frequency trading in the customer accounts, and he often recommended the sale of one security and the simultaneous investment of the sale proceeds into a new security within short time periods. Orlando’s customers routinely followed his recommendations and, as a result, Orlando exercised de facto control over the customers’ accounts. Orlando’s trading in these customers’ accounts was excessive and unsuitable given the customers’ investment profiles. As a result of Orlando’s excessive trading, the customers suffered collective realized losses of $483,680, while paying total trading costs of $581,216, including commissions of $496,872.
- Resolution: Acceptance, Waiver & Consent (AWC)
- Sanctions: Bar
- Registration Capacities Affected: All Capacities
- Duration: Indefinite
- Start Date: 6/30/2021
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The Sonn Law Group is currently investigating allegations surrounding Christopher George Orlando. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.