C

n. The act of one who churns. The quantity of butter made at one operation. 

A stockbroker's excessive trading on a customer's account to earn more commissions. This is an illegal practice in violation of § 10(b) of the Exchange Act (15 USCA § 78j(b)).

'Churning occurs when a securities broker buys and sells securities for a customer's account, without regard to the customer's investment interests, for the purpose of generating commissions.' Thompson v. Smith Barney, Harris Upham & Co., 709 F.2d 1413, 1416 (11th Cir. 1983). The plaintiff must prove three elements in order to establish a cause ...