Former Janney Montgomery Scott Financial Advisor, John Joseph Cahill, Barred By FINRA For Refusing To Cooperate In FINRA Investigation Into Allegations That He Commingled And/Or Converted Funds Of An Elderly Customer
John Joseph Cahill (CRD # 1240551) was a Financial Advisor at Janney Montgomery Scott in Upper Saddle River, NJ. John Joseph Cahill has been in the securities industry since 1984 and previously worked at Morgan Stanley and Citigroup Global Markets.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), FINRA barred John Cahill from acting as a broker or otherwise associating with a broker-dealer firm for refusing to “provide documents and information and to appear and provide on-the-record testimony requested by FINRA in connection with an investigation into allegations that he commingled and/or converted funds belonging to, and served as power-of-attorney for, an elderly individual who was his customer while he was associated with his former member firm.”
For a copy of the FINRA sanction, click https://www.finra.org/sites/default/files/fda_documents/2019061661601%20John%20Joseph%20Cahill%20CRD%201240551%20AWC%20va%20.pdf.
Janney Montgomery Scott “discharged” John Cahill in connection with these allegations. In August 2013, John Cahill “voluntarily resigned” from Morgan Stanley for “ALLEGATIONS RELATING TO EMPLOYEE’S COMPLIANCE WITH REQUIREMENT TO CONTACT CLIENT PRIOR TO EXECUTING SECURITIES TRANSACTION.”
In addition, John Cahill was the subject of a March 2012 customer complaint alleging, “EXECUTOR OF ESTATE VERBALLY ALLEGED, INTER ALIA, THAT INVESTMENTS IN CLIENT’S ACCOUNT WERE NOT SUITABLE” The matter settled for $42,100.
For a copy of John Cahill’s CRD, click https://brokercheck.finra.org/individual/summary/1240551#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at firstname.lastname@example.org.
- What Is the True Value of My Non-Traded Real Estate Investment Trust?
- Former Forest Securities Broker, Jeffrey Scott Nimmow, Barred By FINRA For Engaging In The Sale Of Woodbridge Notes Without Firm Approval
- Former Moors & Cabot Broker, David Gray Dalton, Suspended By FINRA For Exercising Discretionary Trading Authority Without Customer Authorization
- Former Vestech Securities Broker, Randy T. Carpen, Barred By FINRA For Failure To Cooperate Into Investigation Of Alleged Excessive Trading
- Former Van Clemens Broker, Peter D. Monson, Suspended Six Months By FINRA For Alleged Excessive And Unsuitable Trading
- The Wolper Law Firm Files $1 Million FINRA Arbitration Claim Against Lighthouse Capital Group Based On The Recommendations Of Financial Advisors, Rena Morris And Stephen Holt
- Former National Securities Corp. Broker, Jason Hawke, Has Eight Customer Complaints, Two Employment Terminations And A Regulatory Sanction
- Former Valic Financial Advisors Broker, Antonio Gutierriez Puente, Barred By FINRA For Failing To Cooperate In Investigation Into Whether He Engaged In Private Securities Transaction
- Cetera Advisor Networks Broker, Victor Rigoni, Has Six Disclosed Customer Complaints, Including Two Pending And Three Settled Complaints
- Investors In Market Linked Notes And Steepener Notes Continue To Experience Loss Of Principal And Income