DANIEL R CASTORIANO is currently employed as a Broker and/or Investment Adviser at CENTURY SECURITIES ASSOCIATES, INC. located at 6544 CANAL BOULEVARD, NEW ORLEANS, LA, 70124.
DANIEL R CASTORIANO has worked at CENTURY SECURITIES ASSOCIATES, INC. since December 04, 2003
Disclosure History
DANIEL R CASTORIANO has 1 Disclosure Event(s).
Date: September 17, 2003 Category: Customer Dispute Allegations: THE CLIENT ALLEGED THAT HE INSTRUCTED THE IR TO SELL TWO CDS (BONDS) APPROXIMATELY ONE YEAR AGO, AND THESE INSTRUCTIONS WERE NOT FOLLOWED. THE CLIENT ALLEGED THAT WHEN HE RECEIVED HIS TAX INFORMATION, IT INDICATED THAT THE IR'S NEGLIGENCE COST THE CLIENT $86,000. Damage Amount Requested: $86,000.00 Broker Comment: THE CLIENT ALLEGED THAT TWO OF HIS CDS WERE NOT SOLD OUT OF HIS ACCOUNT IN A TIMELY MANNER AND, THEREFORE, CLIENT INCURRED AN ADDITIONAL $86,000 IN TAXES. MY REVIEW INDICATED THAT THE CLIENT DID NOT HOLD ANY CDS WITH OUR FIRM, AND IN JUNE OF 2002, CLIENT GAVE INSTRUCTIONS TO LIQUIDATE HIS TOTAL ACCOUNT. THESE INSTRUCTIONS WERE GIVEN IN THE BRANCH OFFICE WITH A FIELD SUPERVISION DIRECTOR ON A CONFERENCE CALL WITH THE IR AND CLIENT. THE PROCEEDS FROM THIS SALE WERE ISSUED OUT TO THE CLIENT AT THE END OF JUNE 2002. IT COULD NOT BE DETERMINED HOW THE CLIENT MAY HAVE BEEN ASSESSED AN ADDITIONAL $86,000 IN TAXES AS THE BONDS WERE SOLD AT APPROXIMATELY PAR AND THE MUTUAL FUNDS WERE SOLD AT NAV. THE CLAIM WAS DENIED.
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