Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joseph Orlando (Orlando), previously associated with First Standard Financial Company LLC, has at least one disclosable event. These events include one tax lien, alleging that Orlando recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on January 14, 2025.
The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted against Joseph J. Orlando Jr. (‘Orlando’ or ‘Respondent’). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the ‘Offer’) which the Commission has determined to accept. On the basis of this Order and Respondent’s Offer, the Commission finds that these proceedings arise out of unregistered broker activity by Orlando who, between at least September 2019 and March 2020 (the ‘Relevant Period’), solicited investors on behalf of StraightPath Venture Partners, LLC. (‘StraightPath’). StraightPath was an entity that offered investments in privately offered membership interests in limited liability companies (the ‘StraightPath Funds’) that each purportedly owned shares of private issuers that had prospects of becoming publicly traded issuers (‘Pre-IPO Issuers’). Orlando successfully solicited at least $1.1 million in investments in the StraightPath Funds from at least 19 investors. Through his unregistered conduct brokering transactions between investors and the StraightPath Funds, Orlando received over $67,000 in transaction-based compensation. As a result of this conduct, Orlando willfully violated Section 15(a) of the Exchange Act.
