Anthony Farnsworth Sanctioned By FINRA Over Books and Records Allegations

Anthony FarnsworthPublic records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on November 1, 2018 indicate that former Colorado-based Paronsex Securities broker/adviser Anthony Farnsworth has been sanctioned by FINRA in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Farnsworth (CRD# 4616189).

Anthony Farnsworth has spent 14 years in the securities industry and was most recently registered with Parsonex Securities in Englewood, Colorado (2013-2017). He was previously registered with PFS investments in Pewaukee, Wisconsin (2003-2013). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on April 7, 2011; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on January 31, 2003; SIE (Securities Industry Essentials Examination), which he obtained on March 31, 2017; Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on January 24, 2003; and Series 26 (Investment Company Products/Variable Contracts Principal Examination), which he obtained on March 27, 2003. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has been sanctioned by FINRA and resigned from a former employer in connection to alleged rule violations.

In 2015 FINRA sanctioned him in connection to allegations he failed to accurately complete certain of his firm’s required application forms, including a suitability disclosure form, and additionally that he “entered inaccurate information on mutual fund account documentation in four instances.” FINRA’s findings state that as a result of his investment recommendations, eight clients initiated variable annuity surrenders so as to open managed accounts at the firm and/or purchase mutual funds, however, Mr. Farnsworth allegedly failed to document that these transactions were incurring surrender charges and to disclose the “true source of funds.” FINRA alleges that his failure resulted in certain written cost disclosures not being made to customers and the firm maintaining inaccurate books and records. He was issued a fine of $5,000 and a two-month suspension.

In 2013 he was “permitted to resign” from his position at PFS Investments in connection to allegations he participated in an unapproved outside business activity. His “Broker Comment” on the disclosure states in part: “I was not involved in any unapproved outside business activity. The alleged outside business activity was mortgages. My spouse is an outside loan officer with a bank, however since she is not a registered person she was under no obligation to notify PSF Investment [sic], nor was I.”

If you or someone you know has a complaint regarding Anthony Farnsworth, call the attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.