According to FINRA, James Robert Pecoraro was fined $10,000, suspended for nine months, and ordered to pay $68,886 in restitution for excessively trading customer accounts. Pecoraro recommended high-cost, high-velocity trading with frequent stop loss orders that liquidated positions, followed by new purchases. Customers routinely followed his recommendations, giving him de facto control. The trading was unsuitable given customer profiles. Customers suffered $166,018 in realized losses while paying $184,053 in trading costs including $165,437 in commissions. One customer filed arbitration and reached a monetary settlement. Excessive trading generates commissions for brokers while harming customers through unnecessary costs that make profits virtually impossible.