Anthony Cantone is the Subject of FINRA Investigation for Alleged Misrepresentation
Anthony Cantone (CRD #:1066139), a broker and investment advisor registered with Cantone Research, is the subject of a FINRA investigation for alleged misrepresentation and omission of facts, according to his BrokerCheck Record accessed on January 16, 2022.
On October 26, 2021, Anthony Cantone was named a respondent in a FINRA investigation alleging that he made numerous fraudulent and negligent misrepresentations and omissions of material fact in connection with two municipal bond offerings that defaulted, causing customers to lose more than $6,225,000.
Misrepresentations and omissions concerning material facts in investment recommendations deprive investors of the information they need to assess risks associated with a particular investment. FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. This unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.
Quad Cities Municipal Bond Offering
In 2013, Anthony Cantone allegedly made negligent misrepresentations and omissions of material fact in connection with the underwriting and sale of $2,200,000 worth of municipal revenue bonds in an offering for the Quad Cities Regional Economic Development Authority First Mortgage Revenue Bonds (Quad Cities Bonds). The Quad Cities Bonds were issued to fund the purchase and rehabilitation of a dormitory at Sauk Valley Community College (the College), a two-year community college in Illinois.
Anthony Cantone allegedly obtained money and property by means of making false and misleading statements of material facts and omitting material facts regarding the Quad Cities Bonds.
Montgomery 2015 Municipal Bond Offering
In 2015, Anthony Cantone allegedly made fraudulent misrepresentations and omissions of material fact in connection with the underwriting and sale of $6,025,000 worth of municipal revenue bonds in an offering for The Medical Clinic Board of the City of Montgomery-1976 East.
Similar to the Quad Cities Bonds, the Montgomery 2015 Bonds were conduit bonds. Anthony Cantone reportedly knew that the alleged misrepresentations and omissions of material facts made to customers in connection with the offering and sale of the bonds were false and misleading.
For more details regarding the allegations, read here.
New Jersey Bureau of Securities Fine and Suspension
On November 20, 2015, Anthony Cantone was the subject of a $1,800,000 fine and a 19-month suspension from the New Jersey Bureau of Securities for allegedly offering and selling unregistered securities. The allegations further state Anthony Cantone made untrue statements and omitted material facts regarding the circumstances under which the securities were made.
On June 12, 2010, Anthony Cantone was involved in an investor dispute after allegedly failing to supervise, breach of fiduciary duty, and negligence. The investor sought $1,300,000; the dispute settled for $800,000.
Anthony Cantone has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 87 – Research Analyst Exam – Part II Regulations Module
- Series 86 – Research Analyst Exam – Part I Analysis Module
- Series 7 – General Securities Representative Examination
- Series 24 – General Securities Principal Examination
Anthony Cantone is a registered broker in 44 states. He is also a registered investment advisor in Connecticut and New Jersey.
Anthony Cantone has also worked with the following firms:
- Meyers Pollock Robbins (CRD#:13436)
- Gruntal & Co. Incorporated (CRD#:372)
- Advest (CRD#:10)
- Dean Witter Reynolds (CRD#:7556)
- Janney Montgomery Scott (CRD#:463)
- Prudential-Bache Securities (CRD#:7471)
- Brooks, Hamburger, Satnick (CRD#:7886)
Kurta Law Can Help
If you suffered losses after working with Anthony Cantone, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Please contact us for any questions about how to proceed.