Stephen Michael Oliveira and Equinox Securities—Excessive Trading and Account Churning

New Orleans stockbroker fraud attorney

New Orleans stockbroker fraud attorney

Stephen Michael Oliveira and Equinox Securities Allegedly Engaged in Excessive Trading and Churning of Six Customers’ Accounts

Stephen Michael Oliveira and Equinox Securities allegedly engaged in excessive trading and churning six customers’ accounts, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.

Stephen Oliveira, Equinox’s President, Chief Compliance Officer and Designated Supervisor, allegedly reviewed each transaction and was aware of the purported misconduct but rejected any responsibility to actively stop the harm, the AWC notes.

As a result hundreds if not thousands of transactions in each account, huge aggregate amounts of commissions, annualized cost-to-equity ratios that exceeded 100 percent, and collective losses that exceeded $800,000, the AWC reports. The Peiffer Rosca Wolf securities lawyers are currently investigating Stephen Oliveira’s alleged excessive trading.

Stephen M. Oliveira Allegedly Reviewed Each Transaction and Was Aware of Misconduct but Rejected Any Responsibility to Intercede and Stop the Harm; Equinox Expelled and Oliveira Barred, Suspended and Fined $25,000

Stephen M. Oliveira, Equinox’s President, Chief Compliance Officer and Designated Supervisor, allegedly reviewed each transaction and was purportedly aware of the misconduct, but rejected any responsibility to intercede and stop the harm, according to the aforementioned AWC currently under review by attorneys Alan Rosca and James Booker.

As a result Oliveira and Equinox violated NASD and FINRA Rules, and hence, Equinox has been expelled and Oliveira has been barred, suspended and fined $25,000, the AWC notes.

The Peiffer Rosca Wolf securities lawyers are currently investigating Stephen M. Oliveira and Equinox’s alleged excessive trading and churning of six customers’ accounts.  One should also note that, according to the AWC, Stephen M. Oliveira and Equinox neither admitted nor denied the FINRA findings.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged mislabeling of private securities transactions, and are currently investigating Stephen M. Oliveira and Equinox’s alleged excessive trading and churning of six customers’ accounts.  They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Stephen M. Oliveira and Equinox’s alleged excessive trading and churning of six customers’ accounts may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1157 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.