CHRISTOPHER B ARIOLA - Investment Adviser

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Detailed ReportReport

CHRISTOPHER B ARIOLA

CHRISTOPHER BASILE ARIOLA

CRD#: 2957096

Previous Investment Adviser

Previous Broker

BARRED BY FINRA OR THE SEC

FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.

The representative was previously registered both as an investment adviser and as a broker. Visit BrokerCheck for more information on this individual's Broker record. Go to BrokerCheck Site

Licenses

Licenses

0 Licenses

Registration History

Disclosure(s)

View By:

8/25/2016

Regulatory

Final

Initiated By

FINRA

Allegations

Ariola was named a respondent in a FINRA complaint alleging that he unsuitably recommended that elderly retirees invest a substantial portion of their limited retirement assets in certain gold and energy stocks. The complaint alleges that these recommendations were unsuitable given these customers' financial circumstances, investment objectives, and low risk tolerances, and because the recommendations resulted in these customers' accounts being unduly concentrated in gold and energy stocks. Ariola made similar unsuitable recommendations with respect to a former customer's retirement account that he controlled on the former customer's behalf. As a result of his unsuitable recommendations, these customers suffered a combined total of approximately $140,000 in realized losses. The complaint also alleges that Ariola obtained access to the former customer's retirement account and engaged in securities trading in that account on the customer's behalf without providing the required written notice of such outside brokerage account to his member firm or of his registered status with his firm to the firm that held the retirement account.

Resolution

Decision

Bar

Bar (Permanent)

Registration Capacities Affected

All Capacities

Duration

Indefinite

Start Date

1/3/2017

Sanctions

Monetary Penalty other than Fines

Amount

$18,657.43

Sanctions

Restitution

Amount

$137,993.13

Regulator Statement

Default decision rendered December 6, 2016. The sanctions were based on findings that Ariola made unsuitable recommendations to elderly retirees to invest a substantial portion of their limited retirement assets in certain high-risk gold and energy stocks. The findings stated that these recommendations were unsuitable given these customers' financial circumstances, investment objectives, and low risk tolerances, and because the recommendations resulted in the customers' accounts being unduly concentrated in gold and energy stocks. Ariola made similar unsuitable recommendations with respect to a former customer's retirement account that he controlled on the former customer's behalf. As a result of his unsuitable recommendations, these customers suffered combined losses of $137,993.13 in realized losses. The findings also stated that Ariola obtained access to the former customer's retirement account and engaged in securities trading in that account on the customer's behalf without providing the required written notice of such outside brokerage account to his member firm or of his registered status with his firm to the firm that held the retirement account. The decision became final January 3, 2017.

Previous Registration(s)

th hidden text	th hidden text	Name	Location
IA	10/01/2012 - 09/03/2014	FINANCIAL TELESIS, INC. (CRD#:31012)	ALISO VIEJO, CA
IA	11/14/2012 - 06/12/2014	401(K) ADVISORS, INC. (CRD#:121254)	ALISO VIEJO, CA
IA	06/20/2005 - 09/24/2012	BAY MUTUAL FINANCIAL LLC (CRD#:130535)	SANTA MONICA, CA
IA	07/01/2003 - 10/04/2004	WACHOVIA SECURITIES, LLC (CRD#:19616)	LOS ANGELES, CA
IA	09/13/2001 - 07/01/2003	PRUDENTIAL SECURITIES INCORPORATED (CRD#:7471)	LOS ANGELES, CA

FINANCIAL TELESIS, INC. (CRD#:31012)

ALISO VIEJO, CA

10/01/2012 - 09/03/2014

401(K) ADVISORS, INC. (CRD#:121254)

ALISO VIEJO, CA

11/14/2012 - 06/12/2014

BAY MUTUAL FINANCIAL LLC (CRD#:130535)

SANTA MONICA, CA

06/20/2005 - 09/24/2012

WACHOVIA SECURITIES, LLC (CRD#:19616)

LOS ANGELES, CA

07/01/2003 - 10/04/2004

PRUDENTIAL SECURITIES INCORPORATED (CRD#:7471)

LOS ANGELES, CA

09/13/2001 - 07/01/2003

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Broker

A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.

Investment Adviser

An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.

Disclosures

Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.