Lon Faccini Allegedly Executed Excessive Trades

Lon Faccini (CRD #: 2736849), a broker registered with Arive Capital Markets, is involved in an investor dispute, according to his BrokerCheck record, accessed on June 23, 2022.

On April 11, 2022, an investor alleged that Lon Faccini executed an excessive number of trades. The investor is seeking $310,000.

As recently as August 13, 2019, an arbitration award alleging excessive trades appeared on Lon Faccini’s record. The dispute settled for $115,000 – you can read a copy of the Award here.

According to an investor dispute filed on September 25, 2018, Lon Faccini recommended unsuitable investments and misrepresented securities. The investor is seeking $106,000 in this pending dispute.

Excessive Trading

Churning, another name for excessive trading, violates FINRA Rule 2111 – the “Suitability Rule.” The type of trade as well as the number of trades must suit the customer’s needs.

Each trade comes with a transaction fee, and an excessive trading generates fees that unfairly cut into trading profits. Investors who believe their losses were caused by excessive trading can pursue FINRA arbitration to recoup their losses.

Background Information

Lon Faccini has passed the following exams:

• Series 63 Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 General Securities Representative Examination

He is a registered broker in 36 states.

Lon Faccini has worked for the following firms:

• Cape Securities (CRD #: 7072)
• Liberty Partners Financial Services (CRD #: 130390)
• W. Cole Financial (CRD #: 124583)
• P. Turner & Company (CRD #: 43177)
• LH Ross & Company (CRD #: 37920)
• Continental Broker-Dealer Corp. (CRD #: 14048)
• Gunnallen Financial (CRD #: 17609)
• Seaboard Securities (CRD #: 755)
• J. Meters & Co. (CRD #: 15609)
• Investors Associates (CRD #: 958)

Kurta Law Can Help

If you worked with Lon Faccini and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.