Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Perlongo (Perlongo), currently associated with Spartan Capital Securities, LLC, has at least one disclosable event. These events include one tax lien, alleging that Perlongo recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on March 06, 2025.
Without admitting or denying the findings, Perlongo consented to the sanctions and to the entry of findings that he excessively and unsuitably traded a customer’s account. The findings stated that the customer relied on Perlongo’s advice and routinely followed his recommendations and, as a result, Perlongo exercised de facto control over the account. Perlongo recommended frequent in-and-out trading even when the price of his recommended securities did not materially change. As a result of Perlongo’s recommendations, the customer paid $18,925 in commissions and suffered $70,107 in realized losses.
