Category Archives: Jones

Stockbroker Sanctioned for Unsuitable Sale of Private Placement Securities

July 21, 2015

John P. Jones  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he engaged in unsuitable trading in a customer account by recommending purchases of three speculative investments that were not consistent with the customers investment objectives or financial condition, resulting in an over concentration in the customer account.

According to the AWC, between January 2004 and December 2006 Jones recommended that the customer, who had a moderate risk tolerance and an investment objective of preservation of capital, invest a majority of her liquid net worth in five speculative private placements of securities, which collectively represented over 50% of  her liquid net worth.

AWC NO. 2013036960801

Jones   was fined $15,000 and suspended for six months. According to FINRA records he was registered with Maloney Securities from 3/2010-7/2015. Prior to that he was registered with First Legacy Securities and before that Jones, Byrd & Attkisson, Inc. 

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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