Did you lose money investing with Anthony Cantone (CRD# 1066139)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Anthony Cantone. If you suffered losses investing with Anthony Cantone, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
As of May 24, 2020, Anthony Cantone’s FINRA BrokerCheck Report contains the following:
5 Customer Dispute(s)
2 Regulatory Event(s)
1 Employment Separation After Allegations
1 Civil Disclosure(s)
Current and Previous Registrations
2/13/1995 – PRESENT CANTONE RESEARCH INC. (RD#:26314) EATONTOWN, NJ
09/19/1994 – 02/01/1995 MEYERS POLLOCK ROBBINS, INC. (CRD#:13436) NEW YORK, NY
FINRA expelled the firm on 08/10/2001
10/14/1987 – 09/26/1994 GRUNTAL & CO. INCORPORATED (CRD#:372) NEW YORK, NY
07/09/1986 – 10/26/1987 ADVEST, INC. (CRD#:10)
04/14/1986 – 07/21/1986 DEAN WITTER REYNOLDS INC. (CRD#:7556)
05/04/1983 – 04/15/1986 JANNEY MONTGOMERY SCOTT INC. (CRD#:463)
03/03/1983 – 05/05/1983 ADVEST, INC. (CRD#:10)
12/06/1982 – 02/08/1983 PRUDENTIAL-BACHE SECURITIES INC. (CRD#:7471)
09/24/1982 – 11/10/1982 BROOKS, HAMBURGER, SATNICK, INC. (CRD#:7886)
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
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