Close Menu
Free Consultation: 888-976-6111

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.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
Latest Blog Posts
  • Kingswood Advisor Brady Fuchs Receives Oil & Gas Complaint

    San Diego financial advisor Brady Fuchs (CRD# 3203016) has received an investor complaint alleging that his conduct resulted in five-figure...

    Read More
  • Bill Sines: New Complaint Against Senior Financial Services Advisor

    Multiple investor complaints against Seminole, Florida financial advisor Bill Sines (CRD# 2190586) allege that he recommended unsuitable investments. Financial Industry...

    Read More
  • Jason Rossi: $203K Complaint Against Aegis Capital Broker

    Melville, New York financial advisor Jason Rossi (CRD# 4384426) allegedly churned investments and made unauthorized trades, according to a recent...

    Read More
  • Lone Star Advisor Charles Bryant: $200K Suitability Complaint

    Sarasota financial advisor Charles Bryant (CRD# 5346404) is involved in an investor complaint alleging he provided unsuitable investment advice that...

    Read More
  • Previous
  • Next