John Petrone Barred By FINRA Following Misappropriation Probe

FINRA expelled John Petrone [CRD: 5634972, Willowick, Ohio], according to disclosures on FINRA BrokerCheck. Evidently, John Petrone was employed by Farmers Financial Solutions LLC from March 16, 2009, to December 31, 2022. Here’s more about the regulatory actions involving John Petrone.

Regulatory Action Against Petrone Concerned Trading In Elder Client’s Account

FINRA barred Petrone on December 15, 2023, according to AWC Case No. 2023080246601. The sanctions resulted from Petrone's failure to comply with a request for documents from FINRA, relating to allegations of his trading activities in an elderly client's accounts and possible misappropriation of funds from that individual.

FINRA Stated That Petrone Violated Rule 8210

The resolution of this matter came in the form of an Acceptance, Waiver, and Consent (AWC), which Petrone agreed to on December 15, 2023. This agreement resulted in Mr. Petrone receiving a permanent bar from associating with any FINRA member in any capacity.

Ohio Department Of Insurance Sanctioned John Petrone For Money Handling

On November 20, 2023, the Ohio Department of Insurance issued a decision in a case concerning John Petrone. The Ohio Department of Insurance alleged that Petrone improperly withheld, misappropriated, or converted money or property. As a consequence, the regulator barred him. This affects his ability to be practicing as an insurance agent in Ohio for five years, starting from November 20, 2023, and ending on November 20, 2028.

Losses Because Of John Petrone?

Have you experienced losses because of John Petrone? If you have, get in touch with Soreide Law Group online or at (888) 760-6552. Talk with a securities attorney about your legal options. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Petrone and the brokerage firms he worked for deny any allegations of sales practice violations.