{"id":11811,"date":"2025-12-03T16:37:07","date_gmt":"2025-12-03T21:37:07","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=11811"},"modified":"2025-12-03T16:37:07","modified_gmt":"2025-12-03T21:37:07","slug":"financial-broker-nicholas-james-schiano-suspended-for-excessive-trading","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/financial-broker-nicholas-james-schiano-suspended-for-excessive-trading\/","title":{"rendered":"Financial Broker Nicholas James Schiano Suspended for Excessive Trading"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-11812 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2025\/12\/Blog-Graphics23.png\" alt=\"Nicholas James Schiano (CRD# 4429212) a financial broker with 24 years\u00a0of experience, was suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA) following allegations of excessive trading for two senior clients. Schiano had been associated with Spartan Capital Securities, LLC in New York City for the past eight years.\n\nAccording to FINRA\u2019s disclosure report, Schiano\u2019s trading activity generated unusually high turnover rates and cost-to-equity ratios that exceeded established industry benchmarks.\u00a0 \u00a0Between September 2017 and March 2022, he executed 102 transactions for one client (Customer A), which resulted in significant losses while generating $45,515 in commissions.\u00a0 For another client (Customer B), he executed 31 transactions from October 2017 through December 2018, producing comparable losses and $30,510 in commissions.\u00a0 This level of excessive trading is defined as churning \u2013 a practice where brokers excessively buy and sell securities to generate commissions for themselves, rather than prioritizing the client\u2019s investment interests.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2025\/12\/Blog-Graphics23.png 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2025\/12\/Blog-Graphics23-180x120.png 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Nicholas James Schiano (<a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/4429212\" target=\"_blank\">CRD# 4429212<\/a>) a financial broker with 24 years\u00a0of experience, was suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA) following allegations of excessive trading for two senior clients. Schiano had been associated with Spartan Capital Securities, LLC in New York City for the past eight years. <a href=\"https:\/\/www.silverlaw.com\/blog\/financial-broker-nicholas-james-schiano-suspended-for-excessive-trading\/#more-11811\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nicholas James Schiano (CRD# 4429212) a financial broker with 24 years\u00a0of experience, was suspended from the securities industry by the Financial Industry Regulatory Authority (FINRA) following allegations of excessive trading for two senior clients. Schiano had been associated with Spartan Capital Securities, LLC in New York City for the past eight years. Continue reading \u203a<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[589,580],"tags":[],"class_list":["post-11811","post","type-post","status-publish","format-standard","hentry","category-churning-2","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nicholas James Schiano Suspended for Excessive Trading<\/title>\n<meta name=\"description\" content=\"Nicholas James Schiano a financial broker with 24 years\u00a0of experience, was suspended from the securities industry by FINRA.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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