FINRA Issues Sanctions To Chris Polinaire

Soreide Law Group is investigating possible investor claims against securities broker Chris Polinaire (CRD:  4330879, Hauppauge, NY). Evidently, FINRA sanctioned the securities broker, who worked for Network1 Financial Securities Inc. Allegedly, Polinaire engaged in excessive trading. Here is a brief summary of FINRA’s allegations against Polinaire.

FINRA Issues Sanctions To Polinaire For Excessive Trading

Evidently, on November 1, 2022, FINRA issued Case: 2020066685701, sanctioning Chris Polinaire for infractions. Specifically, Polinaire received an eight-month suspension as a securities broker and a $7,500 fine. Notably, FINRA claims that Polinaire engaged in excessive trading.

Mainly, FINRA indicates that between August 2017 and March 2020, during the time that he was registered with Arive Capital Markets, Polinaire unsuitably and excessively traded three client’s accounts. Specifically, in one client’s account, Polinaire recommended that an 82-year-old client place 58 trades – with most of them executed on margin. While the clients had an average month-end equity of roughly $75,334, Polinaire recommended transactions with a total principal value of $2,221,255. This resulted in an annualized cost-to-equity ratio of 65.34 percent and an annual turnover rate of 29.49. The client paid $44,243 in fees and commissions. Polinaire violated FINRA Rules 2010 and 2111 as a result.

Chris Polinaire Employment Information

• Polinaire worked for Arive Capital Markets in Ronkonkoma, NY, as a securities broker from June of 2017 to November of 2020.
• Polinaire worked for Network1 Financial Securities Inc. in Hauppauge, NY, as a securities broker from February of 2021 to October of 2022.

Did Network1 Financial Securities Inc. Securities Broker Polinaire Cause You To Experience Damages?

Have you experienced damages because of Chris Polinaire? You should contact Soreide Law Group at (888) 760-6552 and speak with a securities attorney about a potential recovery of your investment losses. Soreide Law Group, who has successfully recovered money for hundreds of investors in the United States, can review your situation and explain your legal options. Also, the firm represents clients on a contingency fee basis and advances all costs. Polinaire and brokerage firms Polinaire worked for deny any and all allegations of sales practice violations.