{"id":1650,"date":"2015-05-28T09:41:47","date_gmt":"2015-05-28T09:41:47","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/05\/ohio_stockbroker_jerry_cicolan"},"modified":"2015-05-28T09:41:47","modified_gmt":"2015-05-28T09:41:47","slug":"ohio-stockbroker-jerry-cicolan","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ohio-stockbroker-jerry-cicolan\/","title":{"rendered":"Ohio Stockbroker Jerry Cicolani Finally Barred From Financial Industry"},"content":{"rendered":"

\t\t\t\tAfter pleading guilty to two criminal counts of selling unregistered securities<\/a>, The Financial Industry Regulatory Authority (“FINRA”), the agency primarily charged with regulating the nation’s stockbrokers, finally barred former stockbroker, Jerry A. Cicolani, Jr. (“Cicolani”) from the securities industry. According to FINRA’s website<\/a>, “FINRA has permanently barred [Cicolani] from acting as a broker or otherwise associating with firms that sell securities to the public.”<\/p>\n

Sadly, the bar came much too late for many of Cicolani’s former clients. For years, FINRA, had largely overlooked numerous customer complaints and other accusations of bad conduct in Cicolani’s formal record. By the time he was barred, Cicolani had amassed nearly 70 complaints over a 13 year period. The final straw seemed to be the suit brought by the U.S. Securities & Exchange Commission (the “SEC”)<\/a> in May 2014 for Cicolani’s alleged role in a Ponzi scheme that defrauded dozens of investors out of roughly $7 million. Four months after the suit was filed, FINRA finally took action and barred Cicolani. <\/p>\n

For the affected customers, FINRA did not take action fast enough, especially given the warning signs. A FINRA spokesperson, Michelle Ong, seemingly recognized this sentiment when noting, “[W]e regret that we did not bring a formal action against Mr. Cicolani earlier.” Many of Cicolani’s complaints originated from his time working for Merrill Lynch. From 1991 to his resignation from Merrill Lynch in 2010, Cicolani was named in over 60 customer complaints during that time period. Yet, time and time again, these complaints were largely overlooked by both his employer and regulators. In 2004, Cicolani was subject to an SEC inquiry based on his handling of customer accounts, yet Merrill Lynch did not terminate his employment because the SEC never sanctioned Cicolani for his conduct. Instead, Cicolani resigned years later after another investigation, this time initiated by Merrill Lynch. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

After pleading guilty to two criminal counts of selling unregistered securities, The Financial Industry Regulatory Authority (“FINRA”), the agency primarily charged with regulating the nation’s stockbrokers, finally barred former stockbroker, Jerry A. Cicolani, Jr. (“Cicolani”) from the securities industry. According to FINRA’s website, “FINRA has permanently barred [Cicolani] from acting as a broker or otherwise […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1650","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nOhio Stockbroker Jerry Cicolani Finally Barred From Financial Industry — Investor Lawyers Blog — May 28, 2015<\/title>\n<meta name=\"description\" content=\"After pleading guilty to two criminal counts of selling unregistered securities, The Financial Industry Regulatory Authority ("FINRA"), the agency — May 28, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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