August 31, 2022 – An AWC was issued in which Murillo (CRD #4875997) was fined $5,000 and suspended from association with any FINRA member in all capacities for eight months. Murillo is not required to pay restitution because his member firm has agreed to pay as restitution the commissions and other trading costs charged to the customers as a result of his conduct. Without admitting or denying the findings, Murillo consented to the sanctions and to the entry of findings that he excessively and unsuitably traded customer accounts. The findings stated that each of the
customers relied on Murillo’s advice and accepted his recommendations. Those recommended transactions collectively caused the customers to pay $101,508.10 in commissions and other charges.
The suspension is in effect from September 19, 2022, through May 18, 2023. (FINRA Case #2020066887901)
Matthew Schwartz
Matthew Schwartz represents clients harmed by lawyers, accountants, insurance professionals, real estate agents, brokers, financial advisors, and other trusted professionals. He handles Florida litigation and nationwide FINRA arbitration. He has been recognized in The Best Lawyers in America® and named to the Best Law Firms® list.
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