Former broker John Cahill (also known as John Joseph Cahill) has had his registration as both a broker and investment advisor revoked by the New Jersey Bureau of Securities, according to a Summary Revocation Order under review by attorney Alan Rosca.
Investment loss attorney Alan Rosca and his colleagues at the Rosca Scarlato LLC law firm are investigating circumstances related to the revocation of former broker John Cahill’s registration.
Investors who are concerned about their investments with John Cahill may reach out to attorney Alan Rosca or his colleagues for a free, no-obligation consultation and discussion of potential options, or to provide any useful information. Interested Cahill investors may call 888-998-0530, send an email to arosca@rscounsel.law, or complete the contact form on this webpage.
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NJ Bureau of Securities Sanctioned Broker John Cahill After He Was Barred FINRA
According to a January 2020 Letter of Acceptance Waiver and Consent (AWC), in December of 2019, Cahill allegedly violated several FINRA rules by allegedly refusing to provide documents, information, and testimony regarding an investigation by FINRA’s Department of Enforcement.
Following his termination from Janney Montgomery Scott LLC, Cahill was reportedly contacted by FINRA regarding allegations of commingling and/or converting customer funds and serving as power-of-attorney for one of his clients.
In connection with its investigation FINRA requested documentation and information as well as Cahill’s on-the-record testimony, the AWC states. In a letter from his counsel, Cahill allegedly acknowledged the receipt of FINRA’s request, but declined to comply with it, and without admitting or denying the allegations, John Joseph Cahill signed the AWC consenting to being barred from associating with any FINRA member in any capacity.
Consequently, in March 2021, the New Jersey Bureau of Securities issued an order finding that in connection to the alleged misconduct that led to Cahill’s employment termination and subsequent FINRA sanction, former broker John Joseph Cahill engaged in dishonest or unethical practices in the securities business, the Order states.
Cahill Was Involved In Customer Disputes
According to John Cahill’s Brokercheck Report, he has been subject to two customer dispute disclosures between 2012 and 2020.
A dispute reportedly filed in July 2020, alleged breach of fiduciary duty, in addition to conversion of funds of a now deceased client, with the alleged misconduct taking place while Cahill was registered with Morgan Stanley in Paramus, New Jersey. The case is filed with FINRA and the alleged damages are unspecified.
Another dispute filed in 2012 is alleging unsuitable investments from 2008 – 2010, while Cahill was employed with the firm of Morgan Stanley Smith Barney. Reportedly, the unsuitable investments involving common and preferred stock. The client was seeking to recover unspecified damages, and the dispute was reportedly settled for $42,100.
Cahill Had Been A Broker Since 1984
According to Brokercheck, John Joseph Cahill had been a broker for thirty-four years, beginning in 1984. During his time in the securities industry, Cahill was employed by four firms, split between the states of New York and New Jersey.
After entering the industry, Cahill spent twenty-one years with Morgan Stanley DW INC, from 1984 to 2005. Following his employment with Morgan Stanley DW INC, Cahill was employed by Citigroup Global Markets INC, where he spent three years, from 2005 to 2009. Cahill then spent four years, 2009 to 2013, with Morgan Stanley where he resigned after allegations of failing to contact a client prior to executing a securities transaction.
After his resignation from Morgan Stanley, Cahill spent five years, between 2013 and 2019, with Janney Montgomery Scott LLC. According to Brokercheck, Cahill was discharged from Janney Montgomery Scott LLC after an internal review of allegations while acting as POA for a former client. The allegations that led to Cahill’s termination also resulted in his barring from any association with FINRA members, as well as the revocation of his registration as a broker and as an investment advisor.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Investment Loss Attorneys Are Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating circumstances related to broker John Joseph Cahill that led to regulatory sanctions from FINRA and the New Jersey Bureau of Securities, as well as customer dispute disclosures on his Brokercheck.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for its fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors from across the country and around the world in cases ranging from arbitrations to class actions.
Concerned John Cahill investors may contact attorney Alan Rosca or his colleagues for a free no-obligation case evaluation and discussion of potential options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
