Todd Anthony Cirella (CRD #2396336, Woodbury, New York)

An AWC was issued in which Todd Anthony Cirella (CRD #2396336) was fined $5,000, suspended from association with any FINRA member in all capacities for three months, and ordered to pay $27,566, plus interest, in restitution to customers. Without admitting or denying the findings, Cirella consented to the sanctions and to the entry of findings that he willfully violated the Best Interest Obligation under Rule 15l-1 of the Exchange Act (Regulation BI) by recommending a series of trading in a senior customer’s account that was excessive, unsuitable, and not in the customer’s best interest. The findings stated that the customer relied on Todd Anthony Cirella's advice and routinely followed his recommendations and, as a result, Cirella exercised de facto control over the customer’s account. Cirella’s trading in the customer’s account generated $27,566 in commissions and resulted in approximately $12,000 in trading losses, an annualized cost-to-equity ratio of 37.65 percent, and an annualized turnover rate of 20.39. The suspension is in effect from February 21, 2023, through May 20, 2023. (FINRA Case #2020065683301)