Category Archives: Churning
OHO Decision: Broker Barred for Churning Customer Accounts (Excessive Trading)
Michael Venturino (CRD No. 5872439) is a previously registered broker. Most recently, he was associated with Spartan Capital Securities in Garden City, New York (2018 to 2023). Mr. Venturino faced a number of different customer complaints for excessive trading (churning). One of the six complaints was filed by a resident of Florida. In March… Read More »
Florida Broker Barred For Failure To Cooperate With Investigation Into Churning
Francis Joseph Velten Jr. (CRD #2291911) is a previously registered broker and previously registered investment adviser (RIA). Most recently, this broker was associated with Summit Brokerage Service (2006 to 2018), Independent Financial Group (2018 to 2020), and Ameriprise Financial Services (2020 to 2020)—all in New Port Richey, Florida. An investigation was launched into the… Read More »
Florida Broker Barred For Failure To Cooperate With Investigation Into Alleged “Churning”
Nathan Gersteen Katz (CRD #846475) is a previously registered FINRA broker and investment adviser. From June of 2001 to August of 2018, Mr. Katz was a representative of Triad Advisors LLC in Largo, Florida. After that, he served as an investment adviser for American Independent Securities Group LLC from October of 2018 to January… Read More »
Florida Brokerage Firm Sanctioned By FINRA for Failure to Supervise, Churning
Summit Brokerage Services (CRD#: 34643/SEC#: 8-46310) is a brokerage firm that is regulated by the Financial Industry Regulatory Authority (FINRA). With headquarters in Boca Raton, FL, Summit Brokerage has been in the securities industry since 1993 and it is licensed to operate in 51 U.S. states and American territories. On July 2nd, Summit Brokerage… Read More »
