Joseph Michael Cannon (also known as Joe Cannon), of Chicago, Illinois, a stockbroker registered with Northwestern Mutual Investment Services LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in all capacities by FINRA because Cannon failed to appear for testimony in connection with FINRA’s investigation into transactions involving client investment accounts. Letters of Acceptance, Waiver, and Consent No. 2023080630201 (March 19, 2025).
On September 11, 2024, Northwestern Mutual Investment Services LLC filed a Uniform Termination Notice for Securities Industry Registration (Form U5) indicating that Cannon was permitted to resign while internally investigated for “suspicious transactions” associated with both client investment accounts and his personal bank accounts.
Subsequently, on January 24, 2025, FINRA requested that Cannon appear for testimony pursuant to FINRA Rule 8210. This rule authorizes FINRA to require individuals under its jurisdiction to provide information or testimony in matters under investigation.
According to FINRA, Cannon acknowledged receipt of the request but, through his lawyer and in this agreement, confirmed that he would not appear for testimony at any time. This refusal to comply with FINRA’s request led to the determination that Cannon violated FINRA Rules 8210 and 2010.
FINRA Public Disclosure also shows that on November 26, 2024, a customer filed an investment related complaint involving Cannon’s conduct in which the customer requested $2,360,400.00 in damages based upon allegations that Cannon engaged in unauthorized trading when Cannon was associated with Northwestern Mutual Investment Services LLC.
Cannon was associated with Northwestern Mutual Investment Services LLC in Chicago, Illinois from April 16, 2016 to September 11, 2024.
