Greenwood Village, Colorado stockbroker and investment adviser Brian Marston (CRD# 733083) is involved in pending investor disputes. According to the...Read More
John Cahill: Saddle River Broker Barred Over Conversion Allegations
John Cahill (CRD# 1240551), a financial professional formerly associated with Janney Montgomery Scott, was recently barred by the Financial Industry Regulatory Authority in connection to allegations he failed to fully cooperate with an investigation into whether he converted a former customer’s funds.
According to a Letter of Acceptance, Waiver and Consent (No. 2019061661601) dated January 2020, John Cahill was associated with Janey Montgomery Scott as a general securities representative from October 2013 until March 2015, when the firm filed notice of his termination over allegations he failed to report a fiduciary relationship with a former client. FINRA subsequently initiated an investigation into whether he “commingled and/or converted funds belonging to, and served as power-of-attorney for, an elderly individual” who was his customer when he was registered with his former employer. In connection with this investigation, FINRA sent him a letter on November 1, 2019 requesting that he produce certain documents and information by November 15, 2019, and further that he appear and provide FINRA with on-the-record testimony on December 6, 2019. The letter notified Cahill that if he failed to do either, he could be subject to sanctions. Cahill informed FINRA via a letter from counsel on November 18, 2019, that he had received the request but would neither produce the requested information nor appear for testimony. According to FINRA, this refusal constituted a violation of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from associating with any FINRA member in any capacity.
John Cahill is currently not registered as a broker. His previous registrations include Janney Montgomery Scott, Morgan Stanley, Citigroup Global Markets, and Morgan Stanley DW. He has passed three securities industry qualifying examinations and his BrokerCheck report lists zero state securities licenses. (Information current as of May 14, 2020.)