NEW JERSEY BUREAU OF SECURITIES

FERRONE IS THE SUBJECT OF AN ORDER OF A SELF-REGULATORY ORGANIZATION EXPELLING HIM FROM A SELF-REGULATORY ORGANIZATION.

Order

Revocation

The agent and investment adviser registrations of Anthony V. Ferrone are REVOKED; and further, Fenone is denied all exemptions contained in N.J.S.A. 49:3-50 subsections (a) paragraph 9, 10, and 11 and subsection (b); and further, the exemptions to the registration requirements provided by N.J.S.A. 49:3-56(b), N.J.S.A. 49:3-56(c) and N.J.S.A. 49:3-56(g) are hereby revoked.

FINRA

Without admitting or denying the findings, Ferrone consented to the sanction and to the entry of findings that he appeared for on-the-record testimony but refused to provide complete testimony and departed the testimony before its completion during the course of FINRA's investigation into his potential unsuitable trading of UITs in customer accounts.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

Indefinite

7/25/2017

$2,059.00

Civil

CLIENT ALLEGES FINANCIAL ADVISOR FAILED TO FOLLOW THEIR INSTRUCTIONS WITH REGARD TO A JACKSON NATIONAL LIFE POLICY, AND "LOCKED" THE CLIENT INTO A "LONG-TERM COMMITMENT" WITHOUT THEIR KNOWLEDGE OR AUTHORITY. ALLEGED DAMAGES: ESTIMATED TO BE OVER $5000.

$5,000.00

CLIENT ALLEGES FINANCIAL ADVISOR MADE UNSUITABLE INVESTMENT RECOMMENDATIONS AND TERMINATED ANNUITY POSITION WITHOUT CLIENT'S AUTHORIZATION.

$5,705.51

CLIENT BRINGS CLAIMS AGAINST BROKER FOR MISREPRESENTATION & UNSUITABLE INVESTMENT, WHICH RESULTED IN LOSSES IN HIS ACCOUNT

$108,869.00

$40,000.00

CLIENT ALLEGED CHURNING AND UNAUTHORIZED TRADING SEEKS DAMAGES IN EXCESS OF $10,000. COMPLAINT RECEIVED BY MORGAN STANLEY DEAN WITTER

$15,000.00

NOT PROVIDED ALL TRANSACTIONS WERE DISCUSSED AT LENGTH WITH CLIENT IN PERSON BEFORE ANY ORDER WAS ENTERED. NO TRADES WHERE DONE WITHOUT FULL APPROVAL AND COMPLETE UNDERSTANDING OF THE CLIENT.