Jason Jaynes-Former Merrill Lynch Advisor-Settles Customer Disputes for $4.85 Million-Plano, Texas

Jason Jaynes-Former Merrill Lynch Advisor-Settles Customer Disputes for $4.85 Million-Plano, Texas

Jason Jaynes-Former Merrill Lynch Advisor-Settles Customer Disputes for $4.85 Million-Plano, Texas 150 150 Robert Rex, Esq.

Jason R. Jaynes Investigation

January 2024-Plano, TX

According to publicly available records Jason R. Jaynes  ,  a  stockbroker who was previously registered with Merrill Lynchdiscloses settlement of a customer dispute which is sought damages of $18 million.

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 1/2021 a customer of Merrill Lynch filed FINRA Case 21-172 alleging that Jaynes made unsuitable recommendations and misrepresentations involving futures commodities, from 2/2013-12/2019, caused damages  of $18,000,000. The matter was settled in 10/2022 for $2,850,000.

In 8/2020 a customer of Wells Fargo filed FINRA case 20-2353, alleging that Jaynes made unsuitable recommendations and neglected to reduce the over-concentrated and over-leveraged nature of their account causing damages of $13 million. In 4/2022 the case was settled for $2 million.

Investigations involving Over-Concentration

Jason Jaynes was employed by Merrill Lynch from 10/2011=12/2019. . He has been employed by Wells Fargo since 12/2019.

If you suffered losses in an account handled by Jason Jaynes, call for a no charge consultation with an experienced securities attorney to discuss your options for recovery of damages.

Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)

Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.  FINRA Rule 2111- suitability

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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Rex Securities Law

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