The Financial Industry Regulatory Authority (“FINRA”) reports troubling information concerning securities broker Anthony Matthew Cottone (CRD#: 4394861, Boca Raton, Florida). It appears that Cottone worked for firms Landolt Securities (2016 to 2017) and First West Group (2014 to 2016). Notably, there are five total disclosures on Cottone’s BrokerCheck report. This includes an investor dispute; regulatory sanctions including a bar (expulsion) by FINRA; and a pair of employment terminations brought on by alleged misconduct. Here’s more about these disclosures.
First, there is a Landolt Securities client who brought a lawsuit about Anthony Cottone in July 2020. Supposedly, Landolt Securities did not supervise Cottone with respect to his private placement recommendations or sales. Not only that, but the client alleged that Cottone oversaturated their investment portfolio in private placements. For this reason, Landolt Securities opted to settle this matter through making a $150,000 payment to the client in January of 2021.
Evidently, FINRA, who oversees most securities brokers in the United States, indefinitely barred Anthony Cottone as of December 2018 for failing to respond to its request for information. It seems that Cottone received a request to produce information for the regulator in 2018. However, he did not respond to this request, which led FINRA to suspend him and ultimately bar him. For this reason, Cottone cannot associate with FINRA member firms to this day.
Prior to that regulatory action, Florida Office of Financial Regulation brought an enforcement action against Anthony Cottone. In the 2017 case, the Office alleges that he made a misstatement when he attempted to seek registration.
In January 2017, WealthForge Securities disaffiliated with Anthony Cottone for allegedly failing to disclose information on his U4. Basically, securities brokers are required to report certain information on their U4, and that information could become part of the public record. When a broker fails to disclose information on their U4, they might face regulatory sanctions.
Moreover, back in 2010, AXA Advisors let Anthony Cottone resign during a time that they investigated allegations of unapproved advertising and sales practice violations.
Apparently, Anthony Cottone denies allegations of misconduct as referenced in these disclosures. Have you incurred losses by investing with him? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. We have recovered millions for clients who have been wronged by their securities brokers and financial advisors.
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