Joseph Cannon: $2mm Complaint Against Barred Northwestern Advisor

Former Chicago, Illinois financial advisor Joseph Cannon (CRD# 6341199) was recently sanctioned and barred in connection with alleged rule violations. Financial Industry Regulatory Authority records show that the former Northwestern Mutual Investment Services broker has also received an investor complaint alleging seven-figure damages.

A Letter of Acceptance, Waiver, and Consent (No. 2023080630201) issued in March 2025 describes FINRA’s disciplinary action against Mr. Cannon. As it alleges, FINRA was investigating transactions in his personal bank accounts that were referenced in a filing by his former member firm. Pursuant to this investigation, it sent him a request to provide on-the-record testimony. After receiving this request, FINRA states, Mr. Cannon indicated via counsel that he would not appear for the testimony “at any time.” FINRA found that his refusal violated FINRA Rules 8210 and 2010. As a result, it barred him from associating with any member firm in any capacity.

Mr. Cannon’s BrokerCheck report discloses an investor complaint against him. Filed in November 2024, it alleges that there were unauthorized transfers from the accounts of customers he serviced at Northwestern Mutual. The pending complaint alleges damages of $2,360,400.

A second disclosure on his BrokerCheck report concerns his resignation from Northwestern Mutual Investment Services. Filed in August 2024, it states that the firm permitted his resignation “while under internal review for a series of questionable transactions associated with both his personal bank accounts and client investment accounts.”

According to the Financial Industry Regulatory Authority, Joseph Cannon holds eight years of securities industry experience. Most recently based in Chicago, Illinois, he was last registered with Northwestern Mutual Investment Services from 2016 until 2024. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; and the Uniform Securities Agent State Law Examination, or Series 63. He is no longer registered with any state or firm. (Information current as of March 21, 2025.)

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