Marc Nathan Jaffe (Marc Jaffe) – FINRA Files Complaint Against Financial Advisor/Broker Marc Jaffe | Goodman & Nekvasil, P.A. May Recover Investor Losses
Marc Jaffe was a previously registered financial advisor/broker with Finance 500, Inc. According to FINRA, FINRA filed a complaint against Marc Jaffe in April 2020.
According to FINRA Allegations:
Marc Jaffe was a named respondent in a FINRA complaint alleging that Marc Jaffe was associated with member firm, Integrity Brokerage Services, Inc., and engaged in it’s securities business despite Marc Jaffe statutory disqualification. This complaint alleges that Marc Jaffe was an unregistered person acting in a registered capacity. Marc Jaffe engaged in the firm’s investment banking or securities business. Marc Jaffe performed functions of a General Securities Representative by, among other things, communicating with members of the public to determine their interest in making investments, communicating with customers in an effort to maintain their accounts at the firm, discussing the nature or details of particular securities or investment vehicles, recommending the purchase or sale of securities through a firm registered representative, and receiving compensation for, and in connection with, securities transactions of firm customers.
According to Marc Jaffe’s BrokerCheck Report, Marc Jaffe was discharged from Finance 500, Inc. in September 2015. Marc Jaffe allegedly indirectly received commissions form another Registered Representative in Marc Jaffe’s office, in possible violation of FINRA Rule 2040 when that associate transferred commissions to Jaffe Financial Services, Inc. (JFS), the non-registered entity controlled by Marc Jaffe through which he conducts business. The commission sharing arrangement also appears to have circumvented state agent registration requirements in that Marc Jaffe was not registered in states where his associate earned commissions that were paid over to JFS.
According to FINRA, Marc Jaffe was fined $15,000 and was suspended from the securities industry for two months in August 2015. According to FINRA allegations, without admitting or denying the findings, Marc Jaffe consented to the sanctions and to the entry of findings that Marc Jaffe willfully failed to timely disclose federal and state tax liens on his U4 Form.
According to Marc Jaffe’s BrokerCheck, 22 customer disputes alleging sales practice violations against Marc Jaffe have been settled, with the largest settlement amount being $900,000.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Marc Jaffe 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 Marc Jaffe’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 Marc Jaffe 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.
Some of the information in this blog post was obtained on 6/3/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.
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