Anthony Cantone: FINRA Investigates, Bars Cantone Research Advisor

Former Eatontown, New Jersey financial advisor Anthony Cantone (CRD# 1066139) was recently barred from acting as a broker in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he was most recently registered as a broker and an investment advisor with Cantone Research.

Mr. Cantone’s BrokerCheck report discloses the recent FINRA sanction against him. Filed in December 2023, it alleged that he refused to provide testimony in connection with an investigation “concerning his customers’ purchases of low-priced securities, as well as possible conflicts of interest between his OBAs and his customers.” Finding that his refusal violated FINRA rules, the regulator barred him from associating with any FINRA member firm in any capacity.

A second disclosure on his BrokerCheck report concerns a pending FINRA action. Filed in October 2021, it describes allegations that Mr. Cantone “made numerous fraudulent and negligent misrepresentations and omissions of material fact in connection with two municipal bond offerings that defaulted.” As a result of the offerings’ defaults, FINRA alleged, customers lost at least $6.225 million. He allegedly failed to conduct due diligence in connection with the offerings and “failed to disclose to customers material information about the transaction known by him, as well as material information about the security that was reasonably accessible to the market, which was omitted from the bond’s official statement.” The action remains pending. In a statement included with the disclosure, Mr. Cantone writes that he “strongly” disagrees with FINRA’s allegations, describing them as “biased and unfounded.”

Mr. Cantone’s BrokerCheck report also discloses several investor complaints. The most recent, filed in 2019, alleged that as a representative of Cantone Research, he sold an investment that went into default. The complaint reached a settlement of $42,500.

An earlier investor complaint, filed in 2010, alleged that as a representative of Cantone Research, he breached his fiduciary duty and acted negligently in connection with “the criminal activities” of a third party. In 2013 the complaint reached a settlement of $800,000.

According to the Financial Industry Regulatory Authority, Anthony Cantone holds 40 years of securities industry experience. He was most recently registered as a broker with Cantone Research in Eatontown, New Jersey, from 1995 until 2023. HIs registration history includes Meyers Pollock Robbins, Gruntal & Company, Advest, Dean Witter Reynolds, Janney Montgomery Scott, Prudential-Bache Securities, and Brooks Hamburger Satnick. His credentials include the passage of eight securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Research Analyst Exam – Part I Analysis Module, or Series 86; the Research Analyst Exam – Part II Regulations Module, or Series 87; the Securities Industry Essentials Examination, or SIE; the Investment Banking Registered Representative Examination, or Series 79TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is currently barred from acting as a broker. (Information current as of January 17, 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.