FINRA Sanctions Christian Lucchetto

Soreide Law Group is investigating possible investor claims against securities broker Christian Frank Lucchetto [CRD#: 4648994, Staten Island, NY]. Lucchetto has worked for (1) Arive Capital Markets since 2019; (2) First Standard Financial Company from 2016 to 2019; and (3) Cape Securities Inc. from 2011 to 2016.

Evidently, Financial Industry Regulatory Authority (FINRA) sanctioned the securities broker for alleged unsuitable and excessive transactions. Here is a brief summary of Financial Industry Regulatory Authority (FINRA)’s allegations against Lucchetto:

FINRA Sanctions First Standard Financial Company Securities Broker Lucchetto For Unsuitable Recommendations

Evidently, Financial Industry Regulatory Authority (FINRA) executed Acceptance, Waiver, and Consent (AWC) #: 2020065035201 on January 19, 2021. The regulator issued Lucchetto a fine in the amount of $5,000 and suspended the securities broker for three months.

Specifically, FINRA says that between January 2019 and May 2019, while he was associated with First Standard Financial Company LLC, Lucchetto unsuitably and excessively traded a client's account. In particular, between January 2018 and May 2019, Lucchetto made recommendations concerning the account of a 61-year-old landscape company owner. The client followed Lucchetto's advice, thereby giving him de facto control of the client's account. Supposedly, Lucchetto's recommendations involved frequent trading, which caused an annualized cost-to-equity ratio of over 71 and an annualized turnover rate of 19.42. Evidently, as a result of Lucchetto's recommendations, the client experienced realized losses in the amount of $64,402.09 and paid $30,454.86 in commissions. For this reason, FINRA says that Lucchetto violated FINRA Rules 2010 and 2111.

Did First Standard Financial Company Securities Broker Christian Lucchetto Cause You To Experience Damages?

Have you experienced damages through any sales practice violations by Christian Lucchetto? If so, contact Soreide Law Group at (888) 760-6552 to speak with a securities lawyer about a possible recovery of your investment damages. Notably, Soreide Law Group has successfully recovered money for hundreds of investors in all 50 states. The firm represents clients on a contingency fee basis and advances all costs. Lucchetto and brokerage firms Lucchetto associated with deny any and all allegations of sales practice violations.