Warning: Broker Silvano Trino Has Churning Complaints

AdobeStock_17723177-1-300x175According to the Financial Industry Regulatory Authority (FINRA), former Wachovia Securities and Northeast Securities broker Silvano Rolando Trino was accused of unauthorized use of margin, unsuitable trading and churning. These are against securities laws. Unauthorized trading occurs when a broker sells securities without the prior authority from the investor. FINRA rules require all brokers to fulfill an obligation by discussing trades with investors before execution of the trades. If he does not, his brokerage firm can be liable for losses. Excessive trading, or churning, is a similar claim and is a tactic used by brokers to generate large commissions for themselves while, at the same time, generating unnecessary fees for the client. It is a particularly egregious tactic, and is also against securities rules.
Trino was previously registered with First Union Brokerage Services in Charlotte, North Carolina from June 1996 until October 2000 and Wachovia Securities in Miami, Florida from October 2000 until November 2008. He is currently registered with Northeast Securities in Miami and has been since November 2008. He has four customer disputes against him, one of which is pending.
If you or someone you know has suffered losses with Mr. Trino, please call our law firm today at 312-332-4200 to speak with one of our securities attorneys. We may be able to help you bring a claim against Wachovia Securities or Northeast Securities in order to recover your lost investments. The call to us is free with no obligation and we take cases on a contingency fee basis only.

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