Greenwood Village, Colorado stockbroker and investment adviser Brian Marston (CRD# 733083) is involved in pending investor disputes. According to the...Read More
Jon Iraggi: Morganville, New Jersey Financial Advisor Suspended
A disciplinary action taken by the Financial Industry Regulatory Authority against former Morganville, New Jersey financial advisor Jon Iraggi (CRD# 5857254) suspended him over allegations he improperly used discretion in customer accounts. A former representative of National Securities Corporation, Iraggi was suspended for 30 days and ordered to pay a fine of $5,000.
According to a Letter of Acceptance, Waiver and Consent (No. 2017055128101) dated August 2018, Jon Iraggi was registered with Garden State Securities in Red Bank, New Jersey when, between October 2016 and June 2017, he executed discretionary trades in three customer accounts. FINRA’s findings state that he had received “express or implied authority” from these customers to effect discretionary transactions in their accounts, he had not received written authorization to do so, nor his member firm’s written authorization to effect discretionary trades in the accounts in question. FINRA’s findings go on to state that Iraggi gave a false response to a question on an annual compliance questionnaire he submitted to Garden State Securities in December 2016, specifically attesting that “he had not exercised discretion in any customer account when, in fact, he had done so.” FINRA found these actions to constitute violations of NASD Rule 2510(b) and FINRA Rule 2010. As a result of the foregoing alleged conduct, he was suspended from associating with any FINRA member in any capacity for 30 days. He was also ordered to pay a fine of $5,000.
Jon Iraggi’s disclosure records also report one employment separation: specifically, that he was “permitted to resign” from Garden State Securities in July 2017 in connection to allegations of unauthorized trading.
Jon Iraggi is currently not registered as a broker or investment advisor. His employment history includes National Securities Corporation in Morganville, New Jersey; Garden State Securities in Red Bank, New Jersey; Spartan Capital Securities in New York, New York; Portfolio Advisors Alliance in New York, New York; and American Capital Partners in Hauppage, New York. He currently holds zero state licenses and has passed three securities industry qualification examinations.