According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Christhian Palacios (Palacios) has been subject to two customer complaints and four tax liens during the course of his career. Palacios is currently employed by Garden State Securities, Inc. (Garden State Securities). One of the customer complaints against Palacios concern allegations of high frequency trading activity also referred to as churning and unsuitable investments.
In June 2018 a customer filed a complaint alleging their account was excessively traded and unsuitable from January 2009 until March 2016. The claim alleged $298,109 in damages and is currently pending.
In July 2016 Palacios disclosed a tax lien of $140,000. Tax liens can be sign that a broker may have a conflict of interest to recommend or engage in high risk trades and improper recommendations due to the need to obtain funds. FINRA discloses tax liens information because it is important for investors to know whether or not a broker can manage their own finances.