FRANK JOSEPH CILENTO is currently employed as a Broker and/or Investment Adviser at CHELSEA FINANCIAL SERVICES located at 242 MAIN STREET, STATEN ISLAND, NY, 10307.
FRANK JOSEPH CILENTO has worked at CHELSEA FINANCIAL SERVICES since November 09, 2009
FRANK JOSEPH CILENTO has 7 Disclosure Event(s).
Date: March 15, 2012 Category: Regulatory Initiated By: ILLINOIS Allegations: ON FEBRUARY 7TH, 2012 FINRA ENTERED LETTER OF ACCEPTANCE, WAIVER AND CONSENT("AWC" OR "ORDER")SUBMITTED BY THE RESPONDENT REGARDING DISCIPLINARY PROCEEDING NO.20090196911204 Resolution: Order Sanctions: RESPONDENT SHALL CAUSE TO HAVE HIS REGISTRATION AS A SALESPERSON IN THE STATE OF ILLINOIS WITHDRAWN WITHIN THREE (3)DAYS FROM THE ENTRY OF THIS CONSENT ORDER AND WILL NOT RE-APPLY FOR REGISTRATION FOR A PERIOD OF TWO(2)YEARS FROM THE ENTRY OF THIS CONSENT ORDER.THE FORMAL HEARING SCHEDULED ON THIS MATTER IS HEREBY DISMISSED WITHOUT FURTHER PROCEEDINGS Broker Comment: THIS IS A PIGGYBACK ORDER TO AWC SUBMITTED IN CONJUNCTION TO FINRA PROCEEDING # 20090196911204
Date: February 07, 2012 Category: Regulatory
Date: January 13, 2010 Category: Customer Dispute Allegations: ALLEGATIONS OF MISREPRESENTATION REGARDIING A PONZI SCHEME Damage Amount Requested: $9,000.00 Settlement Amount: $3,000.00
Date: April 17, 2009 Category: Customer Dispute Allegations: CUSTOMER ALLEGED MISREPRESENTATION REGARDING AN ALLEGED PONZI SCHEME. Damage Amount Requested: $45,700.00 Settlement Amount: $30,000.00 Broker Comment: THERE WERE 2 SEPERATE SETTLEMENT AGREEMENTS. PARK AVENUE SETTLED FOR $21,000 AND FRANK CILENTO SETTLED FOR $9,000. THE COMBINED TOTAL WAS $30,000
Date: March 27, 2009 Category: Employment Separation After Allegations Firm Name: PARK AVENUE SECURITIES LLC Termination Type: Voluntary Resignation Allegations: MR. CILENTO RESIGNED DURING THE COURSE OF AN INTERNAL INVESTIGATION INVOLVING POSSIBLE VIOLATIONS OF PAS POLICIES AND PROCEDURES REGARDING SELLING AWAY AND OUTSIDE BUSINESS ACTIVITIES. DURING THE INVESTIGATION, MR. CILENTO INFORMED PAS THAT HE RECEIVED COMPENSATION AS A RESULT OF THESE ACTIVITIES.
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