Close Menu
Free Consultation: 888-976-6111

Justine Cantafio: FINRA Suspends Fired NYLife Advisor

Former Avoca, Pennsylvania financial advisor Justine Cantafio (CRD# 6158299) has been suspended in connection with allegations of forgery and unauthorized conduct. Financial Industry Regulatory Authority records show that she was most recently registered with Hornor Townsend & Kent, having previously been registered with NYLife Securities in Scranton, Pennsylvania.

A Letter of Acceptance, Waiver, and Consent (No. 2022076531801) issued in April 2024 describes FINRA’s disciplinary action against Ms. Cantafio. It alleges that in violation of NYLife Securities policies and procedures, she forged customer signatures on two life insurance applications in April 2022, submitting them to the firm’s insurance affiliate “as authentic, authorized applications” without the customers’ knowledge or authorization. In May 2022, FINRA found, the customers in question complained that they had not authorized the policies in question, and Ms. Cantalfio “attempted to settle the complaints away from the firm by mailing the customers personal checks in the amount of the premiums.”

FINRA found that her conduct violated FINRA Rule 2010, which stipulates that associated persons must observe high standards of commercial honor and just and equitable principles of trade. As the AWC Letter explains, forgery and attempts to settle customer complaints away from a representative’s member firm are both considered violations of this rule. In connection with these findings, FINRA issued Ms. Cantafio a $7,500 fine and a 12-month suspension from associating with any member firm in any capacity.

Ms. Cantafio’s BrokerCheck report discloses her termination from NYLife Securities. Filed in 2022, it states that the firm fired her “after she violated company policy by submitting two electronic traditional life insurance policy applications without the customers’ authorization and consent.” It also states that the firm filed a fraud report with state regulators in connection with these allegations.

According to the Financial Industry Regulatory Authority, Justine Cantafio holds four years of securities industry experience. Most recently based in Avoca and Scranton, Pennsylvania, she was registered with Hornor Townsend & Kent from 2022 until 2023 and with NYLife Securities from 2019 until 2022. Her 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 6TO; and the Uniform Securities Agent State Law Examination, or Series 63. She has been suspended from acting as a broker. (Information current as of April 23, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Trey Trapp: Mutual Fund Complaint Against Ex-Edward Jones Advisor

    Atlanta financial advisor Trey Trapp (CRD# 6177720) allegedly lied to a customer about his investments, according to a recent investor...

    Read More
  • Trevin Kent: Central Coast Advisor Faces $230K Complaint

    A recent investor complaint against Monterey, California financial advisor Trevin Kent (CRD# 6096717) alleges that his investment advice resulted in...

    Read More
  • Bart Cutino: $230K Bond Complaint Against Central Coast Advisor

    Monterey, California financial advisor Bart Cutino (CRD# 5397147) recently received an investor complaint alleging that he provided unsuitable advice. Financial...

    Read More
  • Maria Mayer: BTC Pactual Advisor Resigned from Credicorp Capital

    Miami financial advisor Maria Mayer (CRD# 5396408) recently resigned from her former broker-dealer firm in connection with alleged rule violations....

    Read More
  • Previous
  • Next