Troy Allen Orlando (CRD #6055474, New York, New York)

November 22, 2023 – An AWC was issued in which Orlando was suspended from association with any FINRA member in all capacities for 20 months and ordered to pay deferred restitution of $58,082.50, plus interest. In light of Orlando’s financial status, the sanctions do not include a monetary fine. Without admitting or denying the findings, Orlando consented to the sanctions and to the entry of findings that he willfully violated Reg BI and violated FINRA Rules 2111 and 2010 by recommending a series of trades in five customer accounts that were excessive, unsuitable, and not in the customers’ best interest. The findings stated that Orlando recommended high frequency trading in the customers’ accounts and the customers relied on Orlando advice and routinely followed his recommendations. As a result, Orlando exercised de facto control over the customers’ accounts. Orlando’s trading in the customers’ accounts, some of whom were seniors, resulted in total trading costs of $231,798, including $164,897 in commissions, and caused $198,450 in realized losses. The restitution imposed is equal to commissions paid by two customers. The other customers have previously obtained an arbitration award against Orlando’s member firm related to his trading. The suspension is in effect from December 4, 2023, through August 3, 2025. (FINRA Case #2019060753505)