Michael Patrick Nanto of Del Mar California a stockbroker formerly employed by J.P. Morgan Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that Nanto failed to comply with FINRA during an inquiry into Nanto’s activities. Case No. 2017054342001 (May 24, 2018).
According to FINRA Public Disclosure, Nanto reportedly failed to respond to FINRA’s request for his information. This led FINRA to issue Nanto a suspension on May 24, 2018. FINRA reportedly warned Nanto that he could be further sanctioned for disregarding FINRA’s inquiry. Ultimately, Nanto failed to respond to FINRA’s requests by the May 24, 2018 deadline imposed, resulting in his permanent bar. Apparently, Nanto appealed FINRA’s decision to Securities and Exchange Commission (SEC) on May 24, 2018. SEC dismissed Nanto’s application for review.
FINRA Public Disclosure confirms that a customer filed an investment related civil action in the Superior Court of the State of California that involved Nanto’s conduct wherein the customer alleged that during the time that Nanto was associated with Mutual of Omaha Investor Services, Inc.: (1) a customer provided Nanto a check so that investments could be made, but Nanto never established the customer’s account and failed to return the customer’s funds and (2) a private account had been established in the customer’s name with a check containing a forged customer signature. Civil Action No. 37-2018-00006178-CU-FR-CTL (Sept. 11, 2017).
