According to FINRA, Michael Christopher Venturino was named a respondent in a FINRA complaint alleging that he willfully violated Section 10(b) of the Exchange Act, Rule 10b-5, and FINRA Rule 2020 by churning customer accounts. The complaint alleges Venturino exercised de facto control of trading, controlling volume, frequency, securities selection, quantity, and timing. His customers relied on him and consistently followed his recommendations. Venturino also allegedly made unauthorized transactions in customers' accounts. The complaint alleges Venturino's trading was excessive and quantitatively unsuitable based on high turnover rates and cost-to-equity ratios, frequent in-and-out trading, and high transaction costs. The complaint alleges Venturino acted with scienter, intending to defraud or acting with reckless disregard of customer interests to maximize his own compensation. His trading allegedly caused approximately $1,028,389 in cumulative customer losses and $518,313 in costs, while Venturino received over $325,000. These are serious allegations; however, no findings have been made as this matter is pending adjudication.