The allegations read: Anthony mastroianni, jr. Was named in a customer complaint that asserted the following causes of action: churning; unsuitable investment recommendations; breach of fiduciary duty; violation of the michigan uniform securities act of 2002; breach of contract; conversion; violations of finra rule 3240; negligent supervision; and liability under agency law, respondeat superior, and/or as statutory control persons. The causes of action related to claimant's allegations that mastroianni engaged in "in and out" trading of the same unspecified speculative stocks in claimant's account for the sole purpose of maximizing commissions and took two personal "loans" from claimant. Claimant further asserted that the respondent's member firms did not properly supervise mastroianni.
