Former Janney Montgomery Scott Stockbroker John Joseph Cahill Barred for Misconduct

John Joseph Cahill of  Mahwah, New Jersey submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he allegedly refused to appear and provide on-the-record testimony, documents and information requested regarding an investigation in violation of FINRA Rules 8210 and 2010. In October 2013, John Joseph Cahill joined Janney Montgomery Scott LLC (“Janney”) as a General Securities Representative. According to the FINRA findings, the Firm reported Cahill’s termination for failing to report his fiduciary relationship with a former client in a Uniform Termination Notice for Securities Industry Registration. The FINRA findings stated that following his termination, FINRA’s department of Enforcement commenced an investigation regarding certain allegations that he served as power-of-attorney and commingled and/or converted funds for a customer while associated with Janney. In addition, Cahill acknowledged and stated that he received the request and would not provide the documents and information or appear and provide testimony at any time.

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Janney Montgomery Scott Stockbroker John J. Cahill Barred from FINRA

Mahwah, New Jersey stockbroker John Joseph Cahill submitted a Letter of Acceptance, Waiver and Consent (AWC) in which he was barred from association with the Financial Industry Regulatory Authority in all capacities for failing to appear for an on-the-record testimony or provide documentation in connection to an ongoing FINRA investigation. FINRA alleged that while Mr. Cahill was a General Securities Representative (GSR) for Janney Montgomery Scott LLC, he allegedly converted funds belonging to an elderly customer. After being terminated from his firm, an investigation began which required Cahill to provide documents, information, and testimony in connection with the investigation. While Cahill acknowledged he received the requests from FINRA to provide this information, he refused to provide anything. In refusing to produce documents and information as requested, Cahill violated FINRA Rules 8210 and 2010. Without admitting or denying the FINRA findings, Cahill also consented to the imposed sanctions and was barred from association with any FINRA member in any capacity.

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