James Iannazzo is the Subject of Structuring Allegations
James Iannazzo (CRD #: 2807988), is the subject of FINRA allegations. This disclosure appears on his BrokerCheck record, accessed June 19, 2024. If you have questions about his alleged conduct as a broker, keep reading.
Regulatory Allegations
On June 23, 2023, the FINRA Department of Enforcement entered a complaint alleging James Iannazzo conducted structured transactions. These transactions broke up large transactions into transactions of less than $10,000, allegedly to avoid reporting requirements. Structuring violates anti-money laundering rules, which are designed to catch red flags of fraud. The complaint also alleges that James Iannazzo had completed Merrill Lynch’s mandatory training regarding structuring.
You can read a copy of the FINRA complaint here.
Criminal Allegations
On January 22, 2022, James Iannazzo was the subject of criminal charges regarding intimidation based on bigotry or bias in the second degree. The charge stemmed from an incident in which he allegedly threw a smoothie at a smoothie shop employee. The charge was later dismissed.
Investor Dispute
On April 6, 2015, an investor alleged that James Iannazzo executed unauthorized trades from April 2014 to March 2015. This dispute was denied by the firm.
Investors should be aware, however, that firms can deny disputes without allowing an outside review. Investors may still be able to recover their losses by pursuing FINRA arbitration after a denial.
FINRA Rule 3260
FINRA Rule 3260 prohibits brokers from conducting discretionary trading, except in accounts approved for discretionary trading in advance by the client and firm.
Background Information
James Iannazzo has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
James Iannazzo is a registered broker in 27 states and the Virgin Islands. He is a registered investment adviser in Connecticut.
He has also registered with Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691).
Kurta Law Can Help
If you worked with James Iannazzo and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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.
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