FINRA Recommends Disciplinary Action Against James Iannazzo

James Iannazzo (CRD #: 2807988), a broker registered with Aegis Capital Corporation, was recently investigated by FINRA, according to his BrokerCheck record, accessed on January 3, 2023. If you have questions about his alleged conduct as a broker, keep reading.

FINRA Investigation

On November 9, 2022, FINRA entered a preliminary determination recommending that disciplinary action be taken against James Iannazzo following an investigation. FINRA alleged that he violated FINRA Rule 2010 by structuring cash transactions in his personal bank and brokerage accounts so as to avoid federal reporting requirements.

Structuring violates anti-money laundering rules, which are designed to catch red flags of fraud. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Pending Criminal Charge

On January 22, 2022, a criminal charge was filed against James Iannazzo. This charge is currently pending.

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 worked for 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 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.