Melbourne, Florida
The FINRA records of Jeffrey Brian Grove , a former Charles Schwab stock broker who was permanently barred from acting as a broker or otherwise associating with firms that sell securities disclose a final regulatory event, a pending criminal matter, a prior criminal matter and a termination from employment.
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 11/2014 FINRA barred Grove from the securities industry after Grove consented to sanctions an entry of findings that he converted the proceeds of office equipment sales, totaling about $1 million, for his own use. FINRA Case 2014042497701.
Grove discloses that adjudication was withheld and he was placed on probation for 18 months and served 50 hours of community service and 12 weeks of drug classes in 1999 to resolve criminal charges for possession of more than 20 grams of cannabis.
Grove discloses that In 8/2014 he was charged with two felonies: 1-Unlawful use of a two way communication device to commit a crime and 2-Conspiracy to traffic in oxycodone.
In 8/2014, Grove was discharged by Charles Schwab & Co. who made the following allegations: “Allegations regarding Mr. Grove’s purchases of unauthorized office equipment through the firm’s office supply channels.”
Grove was employed by Schwab from 7/1999-9/2014.
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.
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