FINRA Issues Sanctions To Tim Petrou

The Financial Industry Regulatory Authority (FINRA) reports important information about securities broker Tim Petrou (also known as Efthimios George Petrou) (CRD:  2672840, Ronkonkoma, NY). Not only has FINRA sanctioned Petrou for excessive trading, but investors disputed the sales practices of the securities broker. However, Petrou denies the allegations. Read on to learn more about the allegations against Petrou.

FINRA Issues Sanctions To Petrou For Excessive Trading

Evidently, on August 19, 2022, FINRA issued Case: 2019060645001 sanctioning Tim Petrou for infractions. Specifically, Petrou received a six-month suspension and $5,000. Notably, FINRA claims that Petrou engaged in excessive trading.

Mainly, FINRA indicates that between January 2017 and October 2018, during the time that he was registered with Arive Capital Markets, Petrou unsuitably and excessively traded a client’s account. Specifically, Petrou recommended that the client make 73 trades, all on margin. The trades resulted in a cost-to-equity ratio of over 86 percent and an annualized turnover rate of 22. Ultimately Petrou’s recommendations caused the client to pay $88,348.13 in trade costs and commissions and resulted in the client losing approximately $17,000. As a result, Petrou violated FINRA Rules 2010 and 2111.

J.P. Turner Company LLC Investor Accuses Tim Petrou Of Unsuitable Recommendations

Notably, a J.P. Turner Company LLC client filed NASD Arbitration: 05-02000 about Tim Petrou. Namely, the client alleged that Petrou made unsuitable recommendations, acted in breach of fiduciary duty, churned accounts, engaged in unauthorized trading, acted unethically, and made misrepresentations. Because of this, the client allegedly sustained damages. Therefore, on November 15, 2007, J.P. Turner Company LLC settled this matter by paying the client $17,750 in damages.

Petrou Employment Information

• Petrou worked for J.P. Turner Company LLC in Middle Island, NY, as a securities broker from February of 2002 to August of 2015.
• Petrou worked for Arive Capital Markets in Ronkonkoma, NY, as a securities broker from July of 2015 to July of 2022.

Did Arive Capital Markets Securities Broker Tim Petrou Cause You To Experience Damages?

Experienced damages through Tim Petrou? If so, reach out to Soreide Law Group at (888) 760-6552 and talk with a securities lawyer about a potential recovery of your investment losses. Soreide Law Group, who has effectively recovered money for hundreds of investors in the United States, is ready to review your situation and explain your legal options. Also, the firm represents clients on a contingency fee basis and advances all costs. Petrou and brokerage firms Petrou worked for deny any and all allegations of sales practice violations.