September 2021- Houston, TX
According to his FINRA record Jason H. Poff , a financial advisor employed by Allstate Financial Services discloses a final regulatory investigation resulting in suspension and a prior customer dispute.
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.
Poff Alleged to Operate Vending Machine Company Without Company Approval
In 12/2020 FINRA initiated an investigation into an alleged outside business activity involving vending machines, operated by Poff while he was employed by LPL Financial.
According to the regulatory complaint Poff drafted consulting contracts between this outside business and his FINRA firm. The entity was to offer loans and process cashier’s checks . It was alleged that Poff falsely attested to his FINRA member firm that he was not involved in any outside business activities. In 5/2021 suspended Poff for three months beginning 6/7/2021.
In 2009, a customer of Poff’s then employer, Chase Investment Services was paid about $38,000 to resolve allegations that Poff failed to follow instructions relating to a variable universal life insurance policy.
Poff worked for Allstate Financial from 6/2018 until 5/2021 when he was discharged after the FINRA suspension and fine. Allstate alleged that Poff engaged in undisclosed and unapproved outside business actitivities while affiliated with a prior firm. Prior to working for Allstate Financial, Poff was employed by LPL Financial, Merrill Lynch and Chase Investment Services. Poff discloses a business affiliation with Ursus Financial Group located in Houston, TX.
If you have questions about an account handled by Jason Poff call for a no charge consultation with an experienced securities attorney.
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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