Joseph Kennon Jayne (Joseph Jayne) Barred from Securities Industry and Fired by Ameriprise Financial Services, Inc. – Goodman & Nekvasil P.A., May Recover Investor Losses

Goodman & Nekvasil P.A., May Recover Investor Losses - Joseph Kennon Jayne (Joseph Jayne) Barred from Securities Industry and Fired by Ameriprise Financial Services, Inc.

From 2009 until Joseph Jayne’s firing in 2014, Joseph Jayne was licensed with Ameriprise Financial Services, Inc. According to FINRA’s records, Joseph Jayne was fired by Ameriprise Financial Services, Inc. on April 28, 2014. Ameriprise Financial Services, Inc. reported to FINRA that Joseph Jayne was terminated for company policy violations related to forgery and use of discretion.

Subsequent to Joseph Jayne’s firing by Ameriprise Financial Services, Inc. FINRA investigated Joseph Jayne and brought a disciplinary action against Joseph Jayne. Joseph Jayne was barred from the securities and investment banking industry on August 5, 2014. FINRA reports that Joseph Jayne consented to the sanction and to the entry of findings that Joseph Jayne signed a customer’s name, or had it signed, on Firm documents for authorizing wire transfers of funds, authorizing the rollover of funds from other investment firms, and authorizing purchases of investments in non-traded REITS. The findings stated that the Firm’s written supervisory procedures forbade its representatives from signing documents on behalf of a client under any circumstances. According to FINRA, while the customer requested the wire transfers of funds and knew about the rollovers, the customer did not complete the documents and did not authorize Joseph Jayne to sign her name to the documents, several of which contained inaccurate information. According to FINRA, Joseph Jayne affixed the customer’s signature to applications to purchase non-traded REITS without the customer’s authorization, knowledge, or consent to submit such applications. In fact, the customer had never even discussed investing in non-traded REITS with Joseph Jayne. According to FINRA, Joseph Jayne’s forgeries caused Joseph Jayne’s member Firm’s books and records to be inaccurate.

FINRA reports that a complaint was filed involving Joseph Jayne’s conduct with Ameriprise Financial Services, Inc. The customer alleged the aggressive and risky investment strategy resulted in losses to her portfolio and was contrary to what was communicated to her from Joseph Jayne. The customer’s attorney alleged signatures of the client on several account documents were not authentic. This complaint settled for $210,000.  

If you lost any money on investments with Joseph Jayne, you may be able to recover your losses from Ameriprise Financial Services, Inc. This is because Ameriprise Financial Services, Inc. had a duty to supervise Joseph Jayne.

If you lost money on investments with Joseph Jayne and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action against Ameriprise Financial Services, Inc. concerning Joseph Jayne’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $300 million on behalf of victimized investors. If you lost money on investments with Joseph Jayne and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.

 

Keywords: Joseph Kennon Jayne, Joseph Jayne, FINRA, Ameriprise Financial, SEC, Fraud, Attorney, Broker, Brokerage, Firm, Brokerage Firm, Invest, Lawyer, Securities Lawyer, Goodman and Nekvasil, Nekvasil, Goodman, Investor, Investment, Financial, Financial Services, Securities 

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