Former Century Securities Stockbroker Daniel R. Castoriano Suspended for Unauthorized Trading
Daniel R. Castoriano of New Orleans, Louisiana submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he has been fined and suspended for allegedly engaging in unauthorized trading in violation of NASD Rule 2510(b) and FINRA Rule 2010. From December 2003 until June 2019, Daniel R. Castoriano was registered with Century Securities Associates, Inc. (Century) until they filed a Form U5 reporting that Mr. Castoriano was permitted to resign in connection with exercising discretion in a customers account. According to the findings, FINRA began investigating Mr. Castoriano after the Form U5 was filed alleging that he used discretion to execute six trades pursuant to an investment strategy without written authorization from the customer or permission from the firm. The FINRA findings stated that Century payed the customer $1,844 to settle a complaint about the trades and associated losses in the account.
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