FINRA FinesLon Faccini

Soreide Law Group is investigating possible investor claims against Lon Faccini (also known as Lon Charles Faccini Jr.) (CRD: 2736849, Coram, New York). Evidently, FINRA sanctioned the securities broker, who worked for Arive Capital Markets. Allegedly, Faccini engaged in excessive and unsuitable trading. Here is a brief summary of FINRA’s allegations against Faccini. However, remember that Faccini denies all allegations against him.

Lon Faccini Sanctioned By FINRA For Excessive Trading

Notably, FINRA issued Case: 2018056483903 on February 16, 2023, sanctioning Lon Faccini for infractions. Allegedly, Faccini engaged in excessive and unsuitable trading. Therefore, Faccini received a six-month suspension and a fine of $5,000.

Evidently, according to FINRA, one client’s month-end-equity, on average, was $116,900 over a 19-month period. During this time, Faccini recommended trades containing a principal value of more than $2.4 million. This caused the client’s account to contain a high turnover rate and the client to incur $36,700 in losses. Another client’s month-end equity, on average, was $26,856 over a 16-month period. During this time, Faccini recommended trades with a total principal value exceeding $500,000. The client experienced more than $17,000 in losses.

Also, FINRA says that Faccini recommended that one client use margin to make most trades and that the other client use margin for all trades.

Arive Capital Markets Investor Accuses Faccini Of Unsuitable Recommendations

Additionally, on November 22, 2022, an Arive Capital Markets client filed FINRA Arbitration: 22-02555 about Lon Faccini. Namely, the client alleged that Faccini made unsuitable recommendations and churned accounts. Because of this, the client allegedly sustained damages on common and preferred stocks. Therefore, the client requested $453,406.47 in compensation from Arive Capital Markets or Faccini. BrokerCheck shows that this arbitration is pending a resolution.

Lon Faccini Discloses Excessive Trading Allegations By Arive Capital Markets Client

Evidently, a client of Arive Capital Markets contested Lon Faccini’s sales practices by filing FINRA Arbitration: 19-02196. Allegedly, Faccini engaged in excessive and unsuitable trading and churned accounts. It appears that Faccini caused the client to sustain damages on common and preferred stocks. Therefore, Arive Capital Markets opted to settle the matter on May 21, 2021, by compensating the client in the amount of $115,000.

Arive Capital Markets Investor Accuses Faccini Of Negligence

Also, an Arive Capital Markets client filed FINRA Arbitration: 20-02821 about Lon Faccini. Namely, the client alleged that Faccini was negligent and churned accounts. Because of this, the client allegedly sustained damages on common and preferred stocks. Therefore, on November 30, 2020, Arive Capital Markets settled this matter by paying the client $36,000 in damages.

Lon Faccini Discloses Misrepresentation Allegations By Cape Securities Inc. Client

Evidently, a client of Cape Securities Inc. contested Lon Faccini’s sales practices by filing FINRA Arbitration: 18-03200 on September 19, 2018. Allegedly, Faccini made misrepresentations of material fact and engaged in unsuitable trading. It appears that Faccini caused the client to sustain damages on common and preferred stocks. Therefore, the client seeks compensatory relief from Cape Securities Inc. or Faccini in the amount of $106,000 in this ongoing matter.

Cape Securities Inc. Investor Accuses Faccini Of Unsuitable Trading

Additionally, a Cape Securities Inc. client filed FINRA Arbitration: 16-02112 about Lon Faccini. Namely, the client alleged that Faccini engaged in unsuitable trading. Because of this, the client allegedly sustained damages on over-the-counter equities. Therefore, on February 12, 2017, Cape Securities Inc. settled this matter by paying the client $9,000 in damages.

Lon Faccini Discloses Breach Of Fiduciary Duty Allegations By Liberty Partners Financial Services LLC Client

Also, a client of Liberty Partners Financial Services LLC contested Lon Faccini’s sales practices by filing FINRA Arbitration: 15-01451. Allegedly, the firm breached fiduciary duties, was negligent, made misrepresentations and omissions of material fact, breached a contract, churned accounts, and made unsuitable recommendations. It appears that Faccini caused the client to sustain damages on exchange-traded funds. Therefore, FINRA Arbitrators issued an Award dated October 14, 2016, compelling Liberty Partners Financial Services LLC to compensate the client in the amount of $42,983.

Faccini Employment Information

• Faccini worked for Arrive Capital Markets in Coram, NY, as a securities broker from June 2016 to January 2023.

Did Arive Capital Markets Securities Broker Lon Faccini Cause You To Experience Damages?

Did you sustain damages by investing with Lon Faccini? You should contact Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Soreide Law Group, who has helped recover funds for many investors in all 50 states, represents clients on a contingency fee basis and advances all costs. Faccini and brokerage firms Faccini worked for deny any and all allegations of sales practice violations.