Last Updated: September 2023 (Red Bank, New Jersey)
Frank Venturelli Investigation Summary
Here’s what you need to know about Red Bank, New Jersey, stockbroker Frank Venturelli:
- Name: Mr. Frank Venturelli
- Current Employer: Suspended by NJ Regulators for 10 years
- Previous Firms: Arive Capital Markets, First Standard Financial Co.
- Function: Former Stock Broker/ Financial Advisor
- Aliases: None
- Primary Location: Red Bank, NJ
- CRD 6403468
- Can Frank Venturelli be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: Yes
- Pending Customer Dispute Seeks Damages of $50,000
Did You Lose Money With Frank Venturelli As Your Stockbroker?
IN 3/2019 a customer of First Standard Financial filed a FINRA arbitration alleging that Frank Venturelli excessively traded his account and made unsuitable recommendations. The customer seeks damages of $50,000 in this currently pending matter.
In 7/2020 FINRA found that Venturelli engaged in quantitatively unsuitable trading in customer accounts, exercised de facto control over the accounts resulting in high turnover rates and cost to equity ratios. According to FINRA Venturelli’s trading was so excessive it was virtually impossible for customers to earn a profit. As a result while Venturelli was earning commissions of $169,803, his customers lost $373,226. FINRA assessed a fine of $30,000 and suspended him for 11 months.
In 2023 The New Jersey Bureau of Securities found that Frank Venturelli engaged in a course of business which operated or would operate as a fraud or deceit on any person and engaged in dishonest or unethical business practices in the securities business. That agency fined Venturelli $120,000 and suspended him for a period of 10 years, ending 4/21/2033.
Allegations of Broker Misconduct Against Frank Venturelli
Customers of Frank Venturelli have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation
- Churning accounts
FINRA and The New Jersey Bureau of Securities found that Venturelli committed the following wrongdoing in connection with the handling of customer accouts:
- Quantitative unsuitable trading
- Unauthorized trading
- Unethical business practices
- Made untrue statements
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Follow this link for more information on cases involving First Standard Financial Co.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Frank Venturelli, contact us for a complimentary consultation with an experience securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.