Investigation of Arive Capital Markets Broker Lon Faccini

Arive Capital Markets

Were you the victim of Arive Capital Markets broker Lon Faccini (CRD# 2736849) regarding unsuitable investment recommendations? He has been registered with Arive Capital Markets in Staten Island, New York since 2016. Previously, he was registered with Cape Securities Inc. in Coram, New York from 2010 to 2016.

Lon Faccini Customer Complaints

He has been the subject of nine customer complaints between 2008 and 2020, one of which was denied, according to his CRD report. The most recent complaints were regarding: 

April 2022. “Excessive trading, unsuitable transactions.” The customer is seeking $310,000 in damages and the case is currently pending. The complaint took place while he was registered with Arive Capital Markets and was regarding equity OTC.

September 2020. “Negligence and churning.” The customer sought $112,426 in damages and the case was settled for $36,000. The complaint took place while he was registered with Arive Capital Markets and was regarding common and preferred stocks. 

August 2019. “Excessive Trading, Unsuitability, Churning.” The customer sought $307,042 in damages and the case was settled for $115,000. The complaint took place while he was registered with Arive Capital Markets and was regarding common and preferred stocks. 

September 2018. “Misrepresentation and unsuitability.” The customer is seeking $106,000 in damages and the case is currently pending. The complaint took place while he was registered with Cape Securities, Inc. and was regarding common and preferred stocks.

August 2016. “Suitability.” The customer sought $42,000 in damages and the case was settled for $9,000. The complaint took place while he was registered with Cape Securities, Inc. and was regarding equity OTC.

June 2015. “Breach of fiduciary duty, common law fraud, negligence/negligent misrepresentation, omissions, breach of contract, restitution, churning, and unsuitability.” The customer is seeking $150,000 in damages and the case is currently pending. The case was regarding exchange traded funds (ETFs) and took place while he was registered with Liberty Partners Financial Services, LLC.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Arive Capital Markets may be liable for investment or other losses suffered by Lon Faccini’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.