Jermaine Joseph – Jermaine Doral Joseph, Financial Advisor Barred from Securities Industry by FINRA

Goodman & Nekvasil P.A., May Recover Investor Losses | Jermaine Joseph – Jermaine Doral Joseph, Financial Advisor Barred from Securities Industry by FINRA 

Jermaine Joseph was previously licensed with PFS Investments, Inc. FINRA reports that Jermaine Joseph was barred from the securities industry in December 2017.

According to FINRA: Jermaine Joseph consented to the sanction and to the entry of findings that he circumvented his member firm’s procedures by failing to disclose fiduciary and beneficiary appointments. The findings stated that contrary to the firm’s policy and without notice to or permission from the firm, Joseph served as a personal representative in two wills executed by a customer and, served as a representative payee for a non-customer with the Social Security Administration, meaning that he received payments on behalf of the non-customer. The findings also stated that Joseph comingled the customer’s funds when he deposited a $30,000 check from the customer for an investment into an account Joseph was using as his personal checking account and which contained his own funds. Although the customer knew of and consented to the deposit, commingling customer funds with personal funds violated FINRA Rule 2010. The findings also included that Joseph made false statements to his firm. Joseph denied serving as the customer’s executor or personal representative while being questioned by the firm about his relationship with the customer. Joseph also said that he had not spent any amount from the $30,000 check she gave him. These statements were false. The customer listed Joseph as personal representative in her will and he had spent $2,000 of the customer’s money. FINRA found that Joseph failed to provide the required notice to his firm of his outside securities account. Joseph opened a securities account at another FINRA member firm and began trading in that account. However, Joseph did not report the opening of this account to his firm prior to opening the account or his initial order to purchase securities. FINRA also found that Joseph submitted a false compliance attestation to his firm in which he attested that he had opened no outside securities accounts. This attestation was false because Joseph had opened a brokerage account with another FINRA member and had not notified the firm of its opening.

If you lost money on investments with Jermaine Joseph 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 concerning Jermaine Joseph’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 $180 million on behalf of victimized investors. If you lost money on investments with Jermaine Joseph 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.  

Investment Fraud Attorney, Stockbroker Misconduct Disciplinary Actions, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, PIABA, SEC, Securities Exchange Commission, NASD, National Association of Securities Dealers, NASDAQ, Dow Jones, Wall Street, New York Stock Exchange

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