unsuitability, failure to supervise

$500,000.00

unsuitability, failure to conduct due diligence

$100,000.00

$72,500.00

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Section 203(f) of the Investment Advisers Act of 1940 (“Advisers Act”) against Anthony M. Cottone. The Commission finds that on January 12, 2022, a judgment was entered by consent against Cottone, permanently enjoining him from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 (“Securities Act”), Sections 10(b) and 15(a) of the Exchange Act and Rule 10b-5 thereunder, and Sections 206(1), 206(2), 206(4) of the Advisers Act and Rule 206(4)-8 thereunder, in the civil action entitled Securities and Exchange Commission v. Anthony M. Cottone, et al., Civil Action Number 22-cv-80048, in the United States District Court for the Southern District of Florida. The Commission’s complaint alleged that, from March 23, 2017 to July 31, 2017, Cottone and his now defunct unregistered investment adviser raised approximately $2.76 million from 11 investors in connection with the sale of preferred interests in a private fund through false and misleading representations and material omissions regarding the fund’s use of investor proceeds, undisclosed conflicts of interest, and Cottone’s background. The complaint also alleged that Cottone misused and misappropriated the fund’s assets. In addition, the complaint alleged that Cottone sold securities in unregistered transactions and acted as an unregistered broker.

Order

Bar (Permanent)

association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or NRSRO

Indefinite

1/24/2022

participating in any offering of a penny stock

Indefinite

1/24/2022

Penny Stock Bar

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Plaintiff Securities and Exchange Commission ("Commission") alleges that from March 23, 2017 to July 31, 2017, Anthony M. Cottone ("Cottone") and his now defunct unregistered investment adviser raised approximately $2.76 million from 11 investors in connection with the sale of preferred interests in a private fund through materially false and misleading representations and material omissions regarding the fund's use of investor proceeds, undisclosed conflicts of interest, and Cottone's background. Cottone also misused and misappropriated the fund's assets. In addition, Cottone sold the preferred interests in unregistered transactions and acted as an unregistered broker. By engaging in this conduct, Cottone violated Sections 5(a), 5(c), 17(a)(1), 17(a)(2), and 17(a)(3) of the Securities Act of 1933; Sections 10(b) and 15(a)(1) of the Securities Exchange Act of 1934 and Rules 10b-5(a), 10b-5(b), and 10b-5(c) promulgated thereunder; and Sections 206(1), (2), and (4) of the Investment Advisers Act of 1940 and Rule 206(4)-8(b) promulgated thereunder.

Judgment Rendered

Civil and Administrative Penalty(ies)/Fine(s)

Disgorgement

$739,078.46

Injunction

Undertakings

fail to supervise RR, overconcentration in private placements

$260,000.00

$150,000.00

FINRA

Respondent Anthony Cottone failed to respond to FINRA request for information.

Letter

Bar (Permanent)

All capacities

Indefinite

12/10/2018

Pursuant to FINRA Rule 9552(h) and in accordance with FINRA's Notice of Suspension and Suspension from Association letters dated September 5, 2018 and October 1, 2018, respectively, on December 10, 2018, Cottone is barred from association with any FINRA member in all capacities. Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in all capacities.

Florida Office of Financial Regulation

Making a material misstatement on the application for registration.

Order

Denial

WealthForge Securities

Discharged

Individual did not disclose material information on his U4

AXA ADVISORS, LLC.

Permitted to Resign

RR WAS PERMITTED TO RESIGN WHILE UNDER INVESTIGATION IN CONNECTION WITH UNAPPROVED ADVERTISING AND SALES PRACTICE VIOLATIONS.

FINRA HAS RELEASED ME OF ANY AND ALL ALLEGATIONS PRESENTED BY AXA ADVISORS IN RESPONSE TO THE "PERMITTED TO RESIGN WHILE UNDER INVESTIGATION OF SALES PRACTICES". THE REVIEW WAS BASED UPON A COLD CALLER I HIRED ON HER FIRST DAY OF WORK, THAT INVITED A PERSON TO A SEMINAR. IN NO WAY WAS ANY FINANCIAL ADVICE IN QUESTION. AXA'S COMPLIANCE ISSUE WAS SIMPLY THE WAY THE PERSON WAS INVITED THAT WAS IN QUESTION; AND LATER PRONOUNCED BY FINRA TO BE ACCEPTABLE. THE "PERMITTED TO RESIGN" RESPONSE DOES NOT TRULY APPLY AS I WAS IN THE MIDST OF SWITCHING BROKER DEALERS DURING THE TIME OF THE INCIDENT AND I SUSPECT THE AXA ADVISORS COMPLIANCE OFFICER WAS RETALIATING AGAINST ME FOR LEAVING THEIR COMPANY.