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.
In FINRA Case 2014039091903, FINRA alleges that Jacobs failed to establish and maintain a system to supervise the activities of Caldwell International Securities that was reasonably designed to achieve compliance with applicable securities laws and regulations as well as NASD/FINRA rules.
The complaint alleges that Jacobs failed to monitor for, detect and, when detected, investigate multiple instances of potential misconduct th the firm’s brokers involving unsuitable active trading investment strategies, unsuitable ETFs, discretionary trading without written authorization and excessive trading/churning in multiple customer accounts across multiple branches of the firm. This matter is currently pending.
Jacobs was previously employed by Veritrust Financial and Waddell & Reed.
If you have questions about an account handled by Paul Jacobs or questions about your account at Caldwell International Securities, call for a no charge consultation.
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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