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- JPMorgan Chase to Replace NYC Headquarters with 70-Story Skyscraper
- Citigroup Raises CEO Corbat's Pay 48% to $23Mn
- Should Congress Create a Crypto-Cop?
- JPMorgan Weighs Buying an Exchange-Traded Funds Firm
- Hey, Goldman Sachs: Wanna Buy BNY Mellon?
- SEC Order Rejecting Acquisition of Chicago Stock Exchange (CSX) by Chinese-Baesd Company
- Kyle Moffatt Named Chief Accountant in SEC CorpFinance
- SEC Suspends Trading in 3 Issuers Claiming Involvement in Cryptocurrency and Blockchain Technology
- Karen Garnett, Assoc. Director of SEC CorpFinance, to Leave After 23 Years of Service
- Louisiana Adviser Barred for Hiding Losses from Investors
- Connecticut HF Manager Illegally Diverted Investor Money - Now Owes Nearly $13Mn
- White House Cleaning House of Advisors Without Full Security Clearance
- Goldman Projects 30% Growth in Wealth Management Advisor Force
- Whistleblower Alleges Manipulation of CBOE Volatility Index
- FINRA Looking Into VIX (CBOE Volatility Index) Manipulation: WSJ
- Atlanta-Area Resident Charged with Misusing Investor Funds - SEC
- FINRA Announces 2018 West Region Networking Seminar
- Alberto Arevalo, Associate Director in Office of International Affairs, to Retire From SEC
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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.