Castoriano was under investigation by FINRA based on allegations of excessive trading.
The Sonn Law Group is investigating allegations that Daniel Castoriano was involved in excessive trading. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.
Daniel Castoriano(CRD#: 4229838) was suspended from the financial industry after failing to provide information to FINRA after allegations that he was engaged in excessive trading.
He also consented to findings stating that he exercised discretion in a customer account when executing transactions without written authorization from the customer or permission from his member firm.
The findings stated that FINRA began investigating Castoriano after his firm filed a Form U5 reporting that he was permitted to resign in connection with exercising discretion without written trading authorizing in a client’s account. Castoriano made the trades pursuant to an investment strategy agreed to with the customer. The customer complained to the firm about the trades and associated losses in his account. Without admitting liability, the firm settled the matter by paying the customer $1,844.
Castoriano was discharged from Century Securities after allegations that he violated firm policy by exercising discretion without written trading authorization in a client’s account.
Along with his 20-day suspension, Castoriano was fined $5,000. His suspension begins on February 3rd.
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The Sonn Law Group is currently investigating allegations that Daniel Castoriano made unauthorized trades. 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.