Frederick Joseph Cammarano III (CRD #2277307) Was Named in a FINRA Regulatory Complaint

Frederick Joseph Cammarano III (CRD #2277307) has been the subject of disclosure events reported on Frederick Joseph Cammarano III’s FINRA BrokerCheck. According to Frederick Joseph Cammarano III’s FINRA BrokerCheck report accessed on January 13, 2026, Frederick Joseph Cammarano III has been the subject of one regulatory disclosure. If you invested with Frederick Joseph Cammarano III and you have concerns about his activity, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory action (FINRA)

According to Frederick Cammarano’s FINRA BrokerCheck disclosure summary, a FINRA disciplinary complaint was initiated on December 15, 2025 (Docket/Case No. 2018056490335) and is currently listed as pending. The disclosure states that Spartan Capital Securities, LLC and several individuals, including Frederick Cammarano, were named as respondents. The complaint alleges that, for more than four years, the firm defrauded customers by engaging in widespread churning and excessive trading, generating millions in revenue and causing customers millions in harm. The complaint further alleges violations involving churning (referencing Exchange Act Section 10(b) and Rule 10b-5), excessive and quantitatively unsuitable trading, Regulation Best Interest (Exchange Act Rule 15l-1), and supervisory failures related to investigating and addressing red flags of excessive trading and churning.

Complaint link: FINRA Complaint (PDF)

Rule summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 (Suitability) requires that a broker-dealer and its associated persons have a reasonable basis to believe a recommended transaction or investment strategy is suitable for the customer based on the customer’s investment profile. In matters involving excessive trading or “quantitative suitability,” the rule is often cited when the volume, frequency, costs, or turnover of transactions appear inconsistent with a customer’s objectives and risk tolerance.

Rule summary #2: FINRA Rule 3110 (Supervision)

FINRA Rule 3110 (Supervision) requires member firms to establish and maintain a supervisory system and written supervisory procedures reasonably designed to achieve compliance with applicable securities laws and regulations and FINRA rules. Allegations involving failures to investigate and follow up on red flags, or failures to supervise associated persons, are commonly evaluated under this rule.

Why this matters to investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.

Reg BI is built around four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
2. Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
3. Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
4. Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.

Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.

Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background information (from BrokerCheck)

Based on his BrokerCheck Report, Frederick Cammarano reportedly:

Is not currently registered with a brokerage firm.

Has passed the Series 24, Series 53, Series 52TO, Series 99TO, SIE, Series 7, and Series 63 exams.

Was previously registered with firms that include Spartan Capital Securities, LLC, Aegis Capital Corp., and John Thomas Financial.

Kurta Law Can Help

If you have worked with Frederick Cammarano and you have concerns about his activity, Kurta Law may be able to help you evaluate potential recovery options. You may be entitled to pursue a claim through FINRA arbitration, depending on the facts of your situation and the investments involved. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

Helpful resources: Churning | Commission Abuse

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable—because investors should not have to sit quietly while alleged misconduct and securities fraud go unchecked. Start your recovery process today.