Christopher Polinaire, Formerly with Arive Capital Markets, Suspended

RONKONKOMA, NEW YORK

 Did you lose money with financial advisor Christopher Polinaire, who previously worked with Arive Capital Markets in Ronkonkoma, New York?  Our investment fraud law firm is looking into claims made against Christopher Polinaire.  According to FINRA’s website, FINRA investigated whether Polinaire had been excessively trading or churning a customer’s account.

According to FINRA’s AWC with Polinaire, he excessively traded three customer accounts between August 2017 and March 2020.  The cost-to-equity ratio of these accounts was between 35% and 152%.  An account with a 35% cost-to-equity ratio means that the account had to make 35% just to break even from the costs of trading.  To settle these allegations, Polinaire agreed to an eight-month suspension, a $7,500 fine, and $128,000 in restitution to the affected customers.  It is unclear whether the restitution will actually be paid.

Christopher Polinaire had been with Arive Capital Markets from June 2017 to November 2020.  He then became registered with Network 1 Financial.  Polinaire worked in a Ronkonkoma, New York office.  Polinaire has also been the four civil judgments.

FINRA Rule 2111 provides that advisors must make suitable investment recommendations.  Included in Rule 2111 is the notion that trades are quantitatively suitable – that trades, taken together, are proper for a customer.  Trading accounts with high cost-to-equity ratios is likely unsuitable because it makes it nearly impossible for an account to make a profit.

Israels & Neuman has offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan.  We represent investors in FINRA arbitration proceedings all over the country.  Our attorneys have represented over one thousand investors against many brokerage firms in the past.

View Polinaire, Christopher FINRA AWC

View Polinaire, Christopher BrokerCheck 11.3.22

If you lost money with Christopher Polinaire or Arive Capital Markets, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.