re. felonies, to my knowledge nobody has convicted Arthur of one, but that might only be because nobody has reported him to a law enforcement agency for his misdeeds as a retail broker. So it's up to every individual to decide for him/herself whether the guy likes to cheat individual investors.
To help everybody make up their mind, here's what the NASD said, when they slapped him with a suspension and a fine (which he subsequently didn't bother to pay):
the firm, acting through Arthur J.
Porcari and Michael T. Fearnow, effected at least 25 corporate securities
transactions as principal with retail customers at prices that were not fair and
reasonable. In addition, the firm, acting through Arthur J.
Porcari, failed to accurately record the time of entry on order tickets
relating to 756 transactions executed by the firm, and failed to execute certain
customer orders to sell shares. Also, the firm, acting through Arthur J.
Porcari and Michael T. Fearnow, effected transactions in securities while
failing to maintain minimum required net capital.
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