A disciplinary action taken by the Financial Industry Regulatory Authority against former Dublin, Ohio broker and investment advisor Sam Aziz...Read More
Jon Stagnone, Formerly of Fidelity Brokerage Services, Suspended by FINRA
Jon Stagnone, a former employee of Fidelity Brokerage Services LLC, has been suspended by the Financial Industry Regulatory Authority (FINRA) for two months and fined $5,000.
According to a Letter of Acceptance, Waiver and Consent dated December 28, 2017, Stagnone agreed to the suspension and fine imposed by FINRA.
According to the release, from April 2013 through January 2017, Stagnone engaged in the securities business without an appropriate license. It is alleged that he “engaged in securities activities, including meetings with current and prospective customers of FBS and the provision of investment advice and securities recommendations.”
According to FINRA, Stagnone knew he needed to take the Series 7 examination in order to be registered and conduct securities business. FINRA also alleged that Stagnone’s supervisor and others and FBS told him multiple times about his registration deficiency, yet he failed to obtain the required registration. In January 2017, Stagnone’s employment was terminated by FBS.
According to the release, Stagnone violated NASD Rule 1031 and FINRA 2010 by not having the appropriate licenses.
Stagnone began his career in the securities industry in 1993 with State Street Research Investment Services, Inc. In 2007, he joined Fidelity Brokerage Services LLC. Besides the suspension and fine described in this article, Stagnone has a clean record in the securities industry.