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Michael Castillero: Former Windsor Street, Alexander Capital Broker Barred

A disciplinary action taken by the Financial Industry Regulatory Authority against former New York, New York broker Michael Castillero (CRD# 4583917) barred him after he failed to appear for testimony related to a FINRA investigation into allegations of unauthorized trading, attempts to settle away, and false statements. A former representative of Windsor Street Capital and Alexander Capital, Castillero was barred from acting as a broker or otherwise associating with a broker-dealer firm.

According to a Letter of Acceptance, Waiver and Consent (No. 2018058649501) dated February 2019, FINRA staff requested Michael Castillero’s testimony as part of an investigation into his “conduct with respect to a customer account at Alexander Capital.” The alleged conduct includes unauthorized trading in a customer account, payments made to the customer without notifying the firm in an attempt to settle the investor’s complaint, and “false statements regarding his conduct to FINRA.” The regulator sent the request for his testimony on December 10, 2018. Through a December 31, 2018 email by his counsel, Castillero indicated that he would not appear for the requested testimony. FINRA’s findings state that this refusal constituted violations of FINRA Rules 8210 and 2010. He was consequently barred from associating with any FINRA member in any capacity.

Michael Castillero’s disclosure records also include several settled or pending customer complaints against him.

A 2016 complaint concerning Michael Castillero’s conduct as a representative of Alexander Capital alleged unsuitable investments, negligence, unauthorized trading, breach of fiduciary duty, and negligent misrepresentation. The complaint reached a settlement of $100,000.

A 2016 complaint concerning his conduct as a representative of Alexander Capital alleged suitability violations, negligence, and unauthorized trading. The complaint reached a settlement of $25,000.

A 2006 complaint concerning his conduct as a representative of JP Turner & Company alleged unsuitable investments and churning. The complaint reached a settlement of $235,000.

A pending 2018 complaint concerning his conduct as a representative of Alexander Capital alleges unsuitable transactions, misrepresentation, and churning between April 2012 and November 2016. The complaint alleges damages of $231,758.14.

Michael Castillero is not currently registered as a broker or investment advisor. His employment history includes Windsor Street Capital, Alexander Capital, Legend Securities, and JP Turner & Company. He currently holds no state licenses and has passed four securities industry qualification examinations.

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