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Jeffrey Smith-Former Accelerated Capital Group Broker-Discloses $750K Customer Arbitration

Jeffrey Smith-Former Accelerated Capital Group Broker-Discloses $750K Customer Arbitration 150 150 Rex Securities Law

UPDATE SEPTEMBER 2017Jeffrey A. Smith, without admitting or denying the findings, consented to sanctions of a $5,000 fine and a three month suspension from 9/5/2017-12/4/2017, to resolve allegations that he maintained and utilized pre-signed and altered forms to conduct his brokerage business. FINRA found that Smith had three customers sign blank forms, and made additional photocopies of some of the blank-signed forms so that he could reuse the customer’s signatures.

FINRA Case 16-21262(sic), discussed below, was settled 9/2017 for $190,000.

Smith has not been registered with any broker dealer since 7/2016.

ORIGINAL POST July 2016-Irvine, CA

The FINRA records of Jeffrey A. Smith  , a stock broker who until recently was employed by Accelerated Capital Group  disclose a prior final regulatory event, a  pending customer dispute, 4 prior final customer disputes and a pending regulatory investigation.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Smith, to resolve FINRA allegations that he failed to properly supervise the sales of private placement investments while he was employed by Longview Financial Group, agreed to a 20 day suspension in 2011.

In June 2016, Smith disclosed that he was being investigated by FINRA.

Three prior customer arbitrations were settled with cash payments.

In  currently pending FINRA Case 16-21262(sic), four customers allege damages of $750,000 negligence, breach of fiduciary duty, excessive trading, violation of securities laws, breach of contract, common law and constructive fraud and failure to supervise.

Smith was employed by  Accelerated Capital Group  from 3/2010-7/2016. Prior to that he was employed by Longview Financial Group. FINRA cancelled Longview Financial Group’s license in August 2010.

Investors suffering losses due to the negligence or fraud of a broker employed by Accelerated Capital Group may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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