The law firm of Oakes & Fosher is presently investigating the possible misconduct of former securities broker John Correnti. According to his publicly available FINRA BrokerCheck report, John Correnti has been the subject of a FINRA sanction and an employment termination.

John Correnti operated most recently as an Ohio based securities broker. He worked in the securities industry for nine years. During his career, he was registered with four different securities firms.

His Registrations

  • MVP Financial (2007-2015)
  • Arive Capital Markets (2014-2015)
  • Forest Securities (2015)
  • AXA Advisors (2015-2016)

The Allegations

John Correnti’s publicly available FINRA BrokerCheck report shows that he was terminated from his position at AXA Advisors in 2016. This termination followed allegations that he was allegedly involved in the market manipulation of a low price security. During a FINRA investigation into this alleged market manipulation, he allegedly failed to comply with their requests for documents and was thus barred from acting as a securities broker in any fashion.

What Does This Mean?

Securities brokers are not allowed to engage in any private securities transactions without first disclosing it to their member firms. This is because these types of transactions can often create significant conflicts of interest for securities brokers. Brokers may begin recommending private alternative investments to customers that are financially unsuited for them based on their investment objectives or risk tolerance. It is the securities firm’s job to prevent investors from being harmed by broker conflicts of interest. That is why brokers are supposed to disclose any involvement in these outside activities to their member firm. However, a broker forgoing this procedure of disclosure does not absolve the firm from liability. Securities firms need to have procedures in place designed to adequately monitor their registered brokers and prevent them from engaging in any unauthorized activities.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth of the matter is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with John Correnti, please contact Oakes & Fosher for a free and private consultation.