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Jonathan Penta Fined by Massachusetts for Failing to Disclose a Termination

Mar 15, 2022 Regulatory Action

Jonathan Penta (CRD #: 4385853), a previously registered broker with Purshe Kaplan Sterling Investments, has been fined by Massachusetts. This is according to his BrokerCheck record, accessed on March 10, 2022. Details of the fine are provided below.

On January 19, 2022, Massachusetts sanctioned Jonathan Penta with heightened supervision for four years. This followed allegations that he failed to disclose his termination from UBS Financial Services in 2019, as required FINRA rules. Massachusetts also fined Jonathan Penta $5,000.

On May 7, 2019, an investor alleged that Jonathan Penta did not honestly state an annuity’s commission trail fees at the time of purchase. She alleged she paid another 4% in addition to the commission. FINRA Rule 2020 requires brokers to accurately represent investments, including associated fees.

Background Information

Jonathan Penta has passed the following exams:

  • Series 66 Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 31 Futures Managed Funds Examination
  • Series 7 General Securities Representative Examination

He has worked for the following firms:

  • Purshe Kaplan Sterling Investments (CRD #: 35747)
  • UBS Financial Services (CRD #: 8174)
  • Morgan Stanley DW (CRD #: 7556)

Kurta Law Can Help

If you have worked with Jonathan Penta and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated on behalf of investors who have lost money following broker fraud or misconduct. Kurta Law is a nationally recognized law firm and exclusively represents investors on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Our attorneys will work tirelessly to restore your lost funds and get your financial future back on track.

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