The Investor’s Watchdog

The Investor's Watchdog

Former NYC Alexander Capital Broker, Michael Castillero, Consents to Bar for Refusing to Appear for On-the-Record Testimony Regarding Unauthorized Trading

Wednesday, February 13, 2019

Former Alexander Capital, L.P. registered representative Michael Castillero recently consented to a bar from associating with member firms of the Financial Industry Regulatory Authority (FINRA) for refusing to appear for on-the-record testimony in a Letter of Acceptance Waiver and Consent (AWC).

According to his FINRA BrokerCheck report, Castillero was associated with Alexander Capital, L.P. in New York, New York from February 2014 to June 2017. Castillero was most recently associated with Windsor Street Capital, LP, also in New York City, from June 2017 to October 2017.

During his time at Alexander Capital, allegations arose that Castillero engaged in unauthorized trading in a customer’s account, attempted to settle the customer’s complaints without notifying the firm by making payments to the customer, and made false statements regarding these allegations to FINRA Department of Enforcement. FINRA then began investigating these allegations and requested that Castillero appear for on-the-record testimony pursuant to FINRA Rule 8210. Castillero, through his counsel’s email, acknowledged that he received FINRA’s request and would not appear for testimony at any time, thus violating FINRA Rules 8210 and 2010.

By signing the AWC, Michael Castillero consented, without admitting or denying the allegations against him, to a bar from associating with any FINRA member in any capacity. FINRA Department of Enforcement approved the AWC on February 6, 2019.

Oftentimes brokerage firms can be held liable for the brokers’ misconduct if they failed to supervise them while registered at the firm. If you lost money while investing with Michael Castillero and you suspect wrongdoing, you may be able to recover from him or Alexander Capital, L.P., the brokerage firm where he was registered. Since 1998, the experienced attorneys at ChapmanAlbin LLC have been fighting for victims of investment fraud and broker misconduct. Call us today at 1-877-410-8172 for a free consultation.

Author: Jason T. Albin

Jason Albin is an Attorney and Partner at ChapmanAlbin, the investor rights law firm. He has represented hundreds of investors who have lost money due to broker misconduct, unsuitable investment advice and fraud.​ Jason also represents individuals in “whistleblower” suits filed against unscrupulous companies that try to defraud the US federal and state governments.

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