Christopher Louis Latorra (CRD # 4272963, Registered Principal, Jersey City, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for three months. The fine must be paid either immediately upon Latorra’s reassociation with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier. Without admitting or denying the findings, Latorra consented to the described sanctions and to the entry of findings that he recommended to customers the purchase of a mutual fund primarily invested in “speculative” to “highly speculative” senior loans. The findings stated that Latorra recommended the transactions without having reasonable grounds for believing that such transactions were suitable for the customers in view of the nature of the accounts and the customers’ financial situation, investment objectives and needs. The findings also stated that the recommendations were unsuitable in that the customers were conservative investors who sought safe returns without risk to their principal. The suspension is in effect from October 5, 2009, through January 4, 2010. (FINRA Case # 2008013792201)

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