Close Menu
Free Consultation: 888-976-6111

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.)

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Juan Sosa: FINRA Bars Ex-SagePoint Advisor Over Conversion Allegations

    Former Studio City, California financial advisor Juan Sosa (CRD# 4059846) has been barred in connection with allegations that he converted...

    Read More
  • Joe Cucinotta: FINRA Suspends Independent Financial Advisor

    Radnor, Pennsylvania financial advisor Joe Cucinotta (CRD# 3272604) was recently suspended in connection with allegations that he falsified customer signatures....

    Read More
  • Robert Omohundro: LCORE Advisor Lands Suitability Complaint

    Atlanta financial advisor Robert Omohundro (CRD# 2415942) has received multiple investor complaints alleging that he recommended unsuitable investments, resulting in...

    Read More
  • Lucy Cueller: Suitability Complaint Against Northpoint Advisor

    Warrenville, Illinois financial advisor Lucy Cueller (CRD# 3089802) recently received an investor complaint alleging that she made unsuitable investment recommendations....

    Read More
  • Previous
  • Next