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Anthony Falsetta Fined by SEC for Alleged Retail Order Period Scheme

Oct 25, 2021 SEC Complaint

Anthony Falsetta (CRD #1454903), a previously licensed broker at Stoever, Glass & Company has been fined by the SEC for an alleged retail order period scheme, according to his BrokerCheck Record accessed on October 18, 2021. 

Keep reading for more information. 

Anthony Falsetta’s SEC Allegations

According to the SEC allegations submitted on August 31, 2021, between January 2016 and April 2018, Anthony Falsetta allegedly violated retail order period priority provisions in certain new issue municipal bond offerings by placing orders for broker-dealers, who were attempting to buy bonds for their inventory, as retail customer orders. He did so despite knowing that pursuant to issuer priority rules, orders on behalf of broker-dealers do not qualify for retail priority. 

The SEC alleges that Anthony Falsetta willfully violated the antifraud provisions of Section 17(a)(3) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934.

You can read the full SEC complaint here

Anthony Falsetta’s SEC Sanctions

SEC ordered the following sanctions for Anthony Falsetta:

1. SEC Bar

Commencing August 31, 2021, the SEC barred Anthony Falsetta indefinitely, with the right to reapply after 3 years. 

2. Penny Stock Bar

He was indefinitely barred from participating in any offering of a penny stock with a right to reapply after 3 years. 

3. Disgorgement &  Monetary Penalty 

The SEC ordered Anthony Falsetta to pay a disgorgement of $122,353 and a prejudgment interest of $24,228.64 to the Securities and Exchange Commission. 

4. Civil and Administrative Penalty

Anthony Falsetta was ordered to pay a $40,000 civil money penalty. 

Anthony Falsetta Background Information

Anthony Falsetta has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 52 – Municipal Securities Representative Examination

He has worked with the following firms:

  • Stoever, Glass & Company (CRD#:7031)
  • G.P. / Alliance Global Partners (CRD#:8361)
  • Drexel Hamilton(CRD#:143570)
  • Rafferty Capital Markets (CRD#:23682)
  • Hapoalim Securities Usa (CRD#:266)
  • Grigsby & Associates,CRD#:13364)
  • Murphy & Durieu (CRD#:6292)
  • Municipal Partners (CRD#:119992)
  • Com (CRD#:104507)
  • Cantor Fitzgerald Securities (CRD#:19660)
  • Cantor Fitzgerald Partners (CRD#:13681)
  • Titus & Donnelly Gp (CRD#:7033)
  • W. Smith & Associates (CRD#:16605)
  • Harry Downs & Company(CRD#:7019)

Kurta Law Can Help 

If you have been victimized by Anthony Falsetta, please contact us today at 877-600-0098 or 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.