BROWSE BY TOPIC
Stories of Interest
- Address at ICI's 2017 Securities Law Developments Conference - SEC Commissioner Stein
- New York Pension Fund Seeks More Pay Disclosure from Wells Fargo
- Wells Fargo Sanctions Are on Ice Under Trump Official
- Josh Brown: Here's How to Buy Bitcoin, But Realize It Could Be One Giant Bubble
- Trump's New Tax Plan Could Cost Citigroup $20 Billion
- Morgan Stanley Fires Former Congressman Harold Ford Jr.
- Al Franken Will Resign Over Sexual Misconduct Allegations - His Full Resignation Speech
- Ex-NFL Player Gets 40 Years for Running $10Mn Fraud
- Bitcoin Blows Past $15K, Adding $2K in Under 12 Hours
- Financial Adviser Settles Charges for Defrauding Private Equity Fund Investors
- New Cross Market Equity Supervision Report Cards - FINRA Phone-In Workshop, WebEx Presentation
- Mueller Just Crossed Trump's Red Line, With Deutsche Bank Subpoena
- Wildfire Rages Near Los Angeles
- Former Company Insider Has $4.1Mn Payday as a Whistleblower
- Audit Firm, Anton & Chia, Conducted Fraudulent Audits of Penny Stock Companies - SEC
- Mueller Subpoenas Deutsche Bank Records on Trump and Family
- Bitcoin Nearly Halfway to $400Bn Value Predicted by Winklevoss Twins 4 Years Ago
- Fidelity Clients Suffer Second Website Glitch in Week
- CBOE Beats CME to Bitcoin Futures Launch with December 10 Start
- McKinsey Senior Exec Thomas Barkin Named New Head of Federal Reserve Bank of Richmond
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
NEWSLETTERS & ALERTS
Broker Barred After Fronting for Husband, a Suspended Broker
Jill Tramontano, fka Jill Cody of Neptune, NJ, agreed to be barred from the industry to settle FINRA charges that she permitted another individual, who had been suspended by FINRA, to engage in securities business while suspended.
BACKGROUND. Tramontano entered the industry in 2001 and worked for a number of broker-dealers – Merrill Lynch, Park Avenue Securities, Columbia Mgmt, Westminster Fincl Securities - before joining Concorde Investment Services (“CIS”) in January 2013. She remained there until being U5’d in July 2016. Concorde noted that she was discharged for "[f]ailure to follow firm policy." Ms. Tramontano had no prior formal disciplinary history.
FACTS AND VIOLATIVE CONDUCT ACCORDING TO FINRA. In January 2013, Ms. Tramontano joined CIS – at the behest of her then-husband, Richard Cody, who was just starting a one-year suspension. Ms. Tramontano became the broker of record for Cody's customers, who apparently came over from Cody’s previous employer, Westminster Financial Securities. Mr. Cody did not tell most of his customers that he was going to be suspended, and instead told them that his wife would be working with him.
Over the next year, Tramontano fronted for Cody while he continued to engage in the securities industry, by communicating with customers, making securities recommendations, and placing trades on their behalf. On occasion, Tramontano told customers that she worked with Mr. Cody and never attempted to mention that he was serving a suspension.
After his suspension, Mr. Cody went to work for CIS in 2014 and remained there until August 2016, when he was U5’d, almost immediately after his wife had been terminated. Cody joined IFS Securities but was terminated one month later on selling away and forgery allegations. According to his BrokerCheck file, Cody has a long list of pending customer complaints against him.
This case was reported in FINRA Disciplinary Actions for April 2017.
For details on this case, go to … FINRA Disciplinary Actions Online, and refer to Case #2016051816301.