October 25, 2016 12:58 AM ET

Capital Markets

Company Overview of Cantor Fitzgerald & Co.

Company Overview

Cantor Fitzgerald & Co. provides financial services in the United States. Its franchise includes capital market, sales and trading, investment banking, real estate private equity, and other businesses and ventures. The company also operates an authorized dealer to trade the United State government securities with The Federal Reserve Bank of New York. In addition, it offers services in domestic and international equities, derivatives, convertibles and structured products, stock loan, and contracts for differences, as well as research. Further, the company provides services in repo and securities lending, mortgage-backed and asset-backed securities, corporate bonds, interest rate products, age...

499 Park Avenue

2nd, 3rd & 4th floors

New York, NY 10022

United States



Key Executives for Cantor Fitzgerald & Co.

Chief Executive Officer
Principal Financial Officer, Principal Accounting Officer, Vice President and Treasurer
Chairman, Chairman of Cantor Fitzgerald, L.P. and Chief Executive Officer of Cantor Fitzgerald, L.P.
Age: 54
Chief Executive Officer of Cantor Fitzgerald Europe
Chief Executive Officer of Cantor Commercial Real Estate
Compensation as of Fiscal Year 2016.

Cantor Fitzgerald & Co. Key Developments

GlobeImmune Seeks Alternatives

GlobeImmune Inc. is looking for potential strategic transactions. The company has retained Cantor Fitzgerald & Co. to assist in reviewing ways to maximize stockholder value.

Cantor Fitzgerald & Co Announces Executive Appointments

Cantor Fitzgerald & Co announced that two senior bankers Kevin Reynolds and Timothy Swift have joined the firm to lead its Debt Capital Markets Origination team.  Mr. Reynolds joins as Managing Director and is principally responsible for bringing new issue debt products across the credit spectrum and developing a distribution driven banking and financing practice for corporate issuers.  Joining Mr. Reynolds as a Director is Timothy R. Swift, who will be responsible for structuring, execution and distribution strategies in addition to industry coverage of the Energy Sector. Mr. Reynolds brings over 20 years of experience and was most recently Head of Capital Markets Origination at Cowen and Company where he established a leading middle market debt finance effort, focused on industrials, consumer products. Prior to joining Cowen, Mr. Reynolds was Head of Capital Markets Origination at Gleacher & Company and spent 12 years at UBS in a number of senior roles, including running the firm's Corporate ABS business and serving as Global Co-Head of Liability Management, Exchange Offer and Recapitalizations, as well as Head of Emerging Market Debt Syndicate for North America and senior positions in Leveraged Finance. He spent the first half of his career in the investment banking industry in other senior positions in high yield credit research, bankruptcy and distressed credit trading, and inter-capital arbitrage. Mr. Swift brings over 15 years of experience in the investment banking industry. Prior to joining Cantor Fitzgerald & Co., he was a Vice President on the Debt Capital Markets team at Cowen and Company, where he specialized in middle market debt financing for companies in a variety of industries.

Financial Industry Regulatory Authority Fines Cantor Fitzgerald

The Financial Industry Regulatory Authority (FINRA) announced that it has fined Cantor Fitzgerald & Co. $6 million and ordered disgorgement of nearly $1.3 million in commissions, plus interest, for selling billions of unregistered microcap shares in violation of federal law. Cantor Fitzgerald was also sanctioned for failing to have adequate supervisory or anti-money laundering (AML) programs tailored to detect 'red flags' or suspicious activity connected to its microcap activity. In addition, two of the firm's business executives were suspended and fined: Jarred Kessler, Executive Managing Director of Equity Capital Markets during the relevant period, was suspended for three months in a principal capacity and fined $35,000 for supervisory failures; and equity trader Joseph Ludovico was suspended in all capacities for two months and fined $25,000. FINRA found that Cantor Fitzgerald & Co.'s supervisory system was not reasonably designed to satisfy the firm's affirmative obligation to determine whether the microcap securities that it was liquidating for clients were registered with the Securities and Exchange Commission or subject to an exemption from registration. While Cantor Fitzgerald made a business decision to expand its microcap liquidation business in March 2011, it failed to ensure that its supervisory system included a reasonable and meaningful inquiry into whether these sales were lawful. Among Cantor Fitzgerald & Co.'s failings were insufficient guidance and inadequate training about when or how to inquire into whether a sale was exempt, and inadequate tools for supervisors to identify red flags associated with illegal, unregistered distributions. As a result of these failures, Cantor Fitzgerald and Ludovico, as the broker of record, sold billions of shares of thinly traded microcap securities between March 2011 and September 2012 without adequate review and due diligence, a significant portion of which were neither registered nor exempt from registration. These violations were accompanied by a failure to implement an adequate AML program tailored to detect red flags and patterns of potentially suspicious money laundering activity related to these sales.

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