Michael Christopher Venturino

(CRD #5872439, Dix Hills, New York)

May 7, 2026 – A National Adjudicatory Counsel (NAC) decision became final in which Michael Christopher Venturino was barred from association with any FINRA member in all capacities for unauthorized trading, and separately for excessive trading and churning. Venturino was also ordered to pay disgorgement in the amount of $144,357, plus interest. The NAC affirmed the findings and modified the sanctions imposed by the Office of Hearing Officers (OHO). The sanctions are based on findings that Venturino executed securities transactions in customer accounts without the prior authorization of those customers. The findings stated that the phone records that Venturino’s member firm produced to FINRA of calls to and from Venturino’s firm-assigned phone extension, when compared to the records of the trades that he made in the customer accounts, showed significant numbers of transactions that Venturino executed for those accounts that were not preceded by a call between the customer and Venturino. The findings also stated that Venturino excessively traded customer accounts for which he exercised de facto control. Each of the customers relied on Venturino’s recommendations to such a level that he controlled the volume and frequency of trading in the customers’ accounts. Furthermore, the fact that the customers each routinely accepted Venturino’s recommendations of transactions that Venturino almost uniformly solicited, without conducting research of their own or having an independent basis to evaluate his recommendations, further supports the conclusion that Venturino exercised de facto control. In addition, the cost-to-equity ratio for each of the accounts of concern well exceeded 20 percent—in fact, many times more. Venturino’s trading resulted in costs so high for each of the relevant accounts as to make almost impossible the possibility of any profits from the transactions that he executed in them. Further, the turnover rates shown by Venturino’s trading for each of the accounts also exceeded acceptable norms. Venturino’s in-and-out trading, frequent purchases and sales of the same securities, and unauthorized trading in the accounts were found to be further evidence of his excessive trading. The findings also stated that Venturino acted with scienter and therefore churned the customer accounts in willful violation of Exchange Act Section 10(b), Exchange Act Rule 10b-5, and FINRA Rules 2020 and 2010. Venturino did not disclose to the customers that he was charging them markups or markdowns on the securities he purchased or sold on a riskless principal basis for their accounts, and the cost-to-equity ratios for all of the accounts were so high that it was virtually impossible for these customers to profit. Venturino directly or indirectly earned $144,357 from his unauthorized trading, excessive trading, and churning. (FINRA Case #2021070337501)

If you have suffered losses as a result of Michael Christopher Venturino’s act and/or actions, we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Michael Christopher Venturino. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-330-6707 or email Matthew Schwartz directly at mschwartz@tslfirm.com.