Stephen Philip King, a stockbroker from Tinton Falls, New Jersey, who was registered with Cantone Research Inc., has been barred as a stockbroker. Financial Industry Regulatory Authority (FINRA), who sanctioned the stockbroker, initiated its investigation into King following concerns about his supervision of recommendations made by representatives at the firm. These recommendations involved customer investments in low-priced securities, prompting FINRA to request King’s testimony under Rule 8210. Letter of Acceptance, Waiver, and Consent (AWC) No. 2022073419203.
On October 22, 2024, FINRA issued a formal request for King’s testimony. King responded by confirming receipt but subsequently declined to appear for testimony. This refusal was reiterated in an email to FINRA on November 6, 2024, during a conference call on November 15, 2024, and through his acceptance of the regulatory resolution. FINRA concluded that his noncompliance impeded their ability to investigate concerns surrounding supervision at Cantone Research and the firm’s handling of low-priced security recommendations.
King consented to the resolution through a Letter of Acceptance, Waiver, and Consent (AWC), signed on November 25, 2024, and effective December 2, 2024. This matter resulted in a permanent bar against King from associating with any FINRA member in any capacity. Under the terms of the AWC, King neither admitted nor denied the findings but agreed to the permanent bar imposed by FINRA. By refusing to testify, King violated FINRA Rule 8210, which grants FINRA the authority to require testimony and documents from associated persons. His actions also violated FINRA Rule 2010, which emphasizes the necessity of ethical conduct in all dealings related to the securities industry.
King’s professional history in the securities industry spans over 35 years, during which he held multiple principal and supervisory roles. Most recently, he was associated with Cantone Research Inc. from November 2014 to September 2023.
