Category Archives: Wisconsin Division of Securities

John Calardo- Former Worden Capital Broker- Discloses $300K Pending Customer Suit Alleging Churning- NYC

September 2019, New York, NY

According to publicly available records John Calardo   (CRD# 6063938) ,  a  currently unregistered stockbroker who previously registered  with Four Points Capital Partners & Worden Capital Management,  disclose a currently pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In 2/2019,   FINRA case #19-00424 was filed on behalf of a Worden Capital Management customer from Wisconsin alleging violation of the Wisconsin Uniform Securities Act, negligence and negligent misrepresentation, unsuitability, fraud, churning and excessive trading.   The customer is seeking damages in excess of $300,000.

John Calardo   was employed  with Four Points Capital Partners from 3/2017-5/2018 .  He was previously employed with Worden Capital Management  from 11/2016 -3/2017.  Before that he was with Legend Securities, Inc. Joseph Gunnar & Co. and Brookstone Securities.

If you have questions about an investment account handled by John Calardo  contact us for a no charge consultation to learn about your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Wisconsin Securities Regulators Issue Orders Re: Sale of Unregistered Securities

July 2015

The Wisconsin  Division of Securities registers and monitors the activities of broker-dealers, securities agents, investment advisers, and investment adviser representatives. It also conducts field audits and investigates complaints and when violations are detected, it initiates the appropriate administrative, injunctive, or criminal action. There are 4 groups within the division; Registration of Professionals, Franchising, Enforcement and Securities Registration and Exemption. Link to Wisconsin Division of Securities Website.

The Division recently issued the following administrative orders:

Lawrence W. Forman, Milwaukee, WI– 7/6/2015- Consent Cease and Desist Order for transacting business in Wisconsin as a broker-dealer without registration and for making untrue statements of fact in connection with the offer, sale or purchase of securities.

Michael P. SirianniWausau, WI- 6/30/2015Cease and Desist Order  for transacting business in Wisconsin as a broker-dealer without registration and for for omitting material facts in connection with the offer and sale of securities to a person in Wisconsin.

Pivotpoint Advisors, LLC and John M. Norquay-Janesville, WI-6/30/2015- A Summary Order was issued against Pivotpoint Advisors and Norquay for selling an unregistered promissory note and for failing to state material facts in connection with the sale resulting in a 30 days suspension, fines and restitution of $12,521.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870