Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

FINRA Bars New Jersey Advisor Over Alleged Securities Violations and Refusal to Testify

Posted on January 24th, 2024 at 2:26 PM
FINRA Bars New Jersey Advisor Over Alleged Securities Violations and Refusal to Testify

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï 

The Financial Industry Regulatory Authority (FINRA) has barred New Jersey advisor Anthony J. Cantone for refusing to provide testimony in an investigation into his business practices.

According to Financial Advisor News, the investigation focused on customers' purchases of low-priced securities and potential conflicts of interest between Cantone's outside business activities and his customers. Cantone and his firm, Cantone Research Inc., faced regulatory scrutiny for engaging in dishonest or unethical practices related to securities sales. The New Jersey Bureau of Securities accused them of withholding crucial information from investors about securities offered for a condo complex in Orlando, resulting in a default by the developer.

Additionally, Cantone faced allegations from FINRA in October 2021, claiming fraudulent misrepresentations in the underwriting and sale of two bond issues totaling over $8 million. The projects were not municipally backed, and investors suffered over $6 million in losses. The recent FINRA ban is a culmination of these regulatory actions.

Cantone has not contested the allegations, but his wife cited a hemorrhagic stroke in June 2022 as the reason for his non-participation in the investigation. Nonetheless, FINRA determined that he violated its Rule 8210 and Rule 2021 by refusing to provide testimony.

 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, finra

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I am so blessed to have you and your dynamic team defending me. Your ethics, forward thinking and strategies are amazing.  You guys are the best group of attorneys in the country that I could hire to handle this complicated case.

Cindy C.

LATEST NEWS AND ARTICLES

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

1783525964 Law
July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.

1783434190 Law
July 7, 2026
Private Credit Funds Face Mounting Redemption Pressure as Investor Sentiment Shifts

A surge in investor redemption requests has intensified pressure on private credit funds, raising concerns about liquidity and long-term stability across the asset class, as reported by The Wall Street Journal.