Janney Montgomery Scott - John Cahill Investigation

Janney Montgomery Scott – John Cahill INVESTIGATED

Haselkorn & Thibaut, P. A., is investigating potential sales practice and supervision issues related to a former financial advisor, John J. Cahill who was previously with Janney Montgomery Scott LLC (2013-2019) in Upper Saddle River, NJ.

The attorneys of Haselkorn & Thibaut have been investigating potential sales practice and supervision issues relating to John J. Cahill as well as other current and former financial advisors with Janney Montgomery Scott LLC.  The experienced team at Haselkorn & Thibaut, P.A. represent investors nationwide in pursuing private Financial Industry Regulatory Authority (FINRA) customer disputes and helping clients recover their investment losses.

According to FINRA Brokercheck, John J. Cahill is not currently registered with a FINRA broker-dealer firm (CRD #1240551).  It appears that he has a total of 4 separate disclosures appearing on his FINRA Brokercheck report.  One customer dispute disclosure was settled in 2012 involving allegations of unsuitable investment recommendations.  In 2013, there is a disclosure related to employment separation from Morgan Stanley, and in 2019 there is another employment separation from Janney Montgomery Scott LLC while Mr. Cahill was allegedly under internal review regarding his receipt of funds while he was serving as power of attorney (POA) for a client.  In 2020, without admitting or denying the allegations, Mr. Cahill consented to an Acceptance, waiver & Consent (AWC) with FINRA regulators barring him from associating with securities broker-dealers indefinitely after it was alleged he refused to provide documents and information related to a FINRA investigation involving commingling or converting funds belonging to an elderly individual where he served as power-of-attorney.

To the extent the 2013 disclosure from Mr. Cahill prior employer (Morgan Stanley) may have raised issues related to his compliance with requirements at Morgan Stanley there could be reasons why Janney Montgomery Scott LLC perhaps should have been more closely supervising Mr. Cahill’s activities and his compliance with firm requirements.  Firm supervision of financial advisors is an integral segment of the regulatory system.

Financial advisors and the firms they work for that supervise the approval and sale of such products (such as Janney Montgomery Scott LLC) have a responsibility to treat investors fairly which includes making only suitable investment recommendations after conducting due diligence.

What to do if you have knowledge regarding these issues with Janney Montgomery Scott Advisor John Cahill?

Haselkorn & Thibaut, P.A. is investigating these issues and if you are a current or former client of John J. Cahill or Janney Montgomery Scott LLC with knowledge regarding any of the issues related to any sales practice or supervision issues involved in the handling of investment accounts, please contact our offices.

Haselkorn & Thibaut, P.A. is an investment fraud law firm that specializes in representing investor clients in investment fraud matters and FINRA arbitration cases nationwide. The two name partners have over 45 years of combined legal experience representing investors (both individual and institutional investors) seeking to aggressively pursue their claims and maximizing client recoveries of investment losses for victims of negligence or investment fraud. For investors faced with investment losses, a FINRA Dispute Resolution customer dispute may be the way to go if you want to recover your losses in a private, confidential, and efficient alternative (compared to state or federal court litigation).

One of the best decisions you can make in this process is to consider having experienced securities arbitration attorneys by your side, to help you maximize your potential recovery of investment losses.  The securities arbitration attorneys at Haselkorn & Thibaut, P.A. (InvestmentFraudLawyers.com) can help you from start to finish in this process. This FINRA Dispute process is a private arbitration process between you and your brokerage firm.  There are typically no depositions, and the process is intended to be a faster, more efficient and less expensive alternative to court litigation.

The sole purpose of this notice is to investigate the manner in which John J. Cahill or Janney Montgomery Scott LLC handled investment recommendations and transactions with investors as well as the supervision of same. If you have any knowledge or experience with these matters, please contact Haselkorn & Thibaut, P. A. at www.investfraudlawyers.com or call 1-888-628-5590.  With offices in Florida, New York, Arizona, Texas, and North Carolina, Haselkorn & Thibaut, P.A. is available to assist investors nationwide.

 

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