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John Howley: FINRA Bars Rumson, New Jersey Financial Advisor
A disciplinary action taken by the Financial Industry Regulatory Authority against former Rumson, New Jersey broker John Howley (CRD# 2229244) barred him after finding he failed to provide testimony connected with its investigation into alleged undisclosed private securities transactions. A former representative of Park Avenue Securities, Howley was barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver and Consent (No. 2018060502601) dated September 2019, John Howley was registered with Park Avenue Securities from 1999 until November 2018, when the firm reported his termination over allegations of undisclosed private securities transactions and referral of customers to outside investments. FINRA subsequently sent Howley a request on July 29, 2019 to appear and provide on-the-record testimony on August 26, 2019 in connection with its investigation into these alleged private securities transactions and outside referrals. Howley indicated to FINRA through counsel on August 7, 2019 that he was in receipt of FINRA’s request for testimony but would not appear for it “at any time.” FINRA found this refusal to constitute violations of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, he was barred from association with any FINRA member firm in any capacity.
John Howley’s disclosure records also list several settled or pending customer complaints against him.
A pending 2019 complaint alleges that as a representative of Park Avenue Securities, he recommended an investment in Global Credit Recovery, “an alleged fraudulent investment scheme.” The complaint alleges damages of $1,000,000.
A pending 2019 complaint alleges that as a representative of Park Avenue Securities, he recommended an investment in a “fraudulent investment scheme,” Global Credit Recovery, in which the claimant “lost all of his retirement savings.” The complaint alleges damages of $288,284.
A pending 2019 complaint alleges that as a representative of Park Avenue Securities, he recommended an investment in Global Credit Recovery that resulted in losses. The complaint alleges damages of $650,000.
A pending 2018 complaint alleges that as a representative of Park Avenue Securities, he acted negligently in connection with an unsuitable recommendation to invest in Global Credit Recovery. The complaint alleges damages of $2,500,000.
A 2006 complaint alleged that as a representative of Park Avenue Securities, he breached his fiduciary duty, acted negligently, made unsuitable investment recommendations, and violated securities laws. The complaint reached a settlement of $155,000.
John Howley is currently not registered as a broker or investment advisor. His employment history includes Park Avenue Securities in Rumson, New Jersey and Guardian Investor Services in New York, New York. He currently holds zero state licenses and has passed three securities industry qualification examinations.