SEC News

SEC Charges Dallas-Based Trader With Front Running May 24, 2013
FOR IMMEDIATE RELEASE2013-93 Washington, D.C., May 24, 2013 — The Securities and Exchange Commission today announced fraud charges and an asset freeze against a trader at a Dallas-based investment advisory firm who improperly profited by placing his own trades before executing large block trades for firm clients that had strong potential to increase the stoc […]
SEC Charges Institutional Shareholder Services in Breach of Clients' Confidential Proxy Voting Information May 23, 2013
FOR IMMEDIATE RELEASE2013-92 Washington, D.C., May 23, 2013 — The Securities and Exchange Commission today charged a Rockville, Md.-based proxy adviser for failing to safeguard the confidential proxy voting information of clients participating in a number of significant proxy contests. Additional Materials SEC Order An SEC investigation found that an employe […]
SEC Charges City of South Miami with Defrauding Investors About Tax-Exempt Status of Municipal Bonds May 22, 2013
FOR IMMEDIATE RELEASE2013-91 Washington, D.C., May 22, 2013 — The Securities and Exchange Commission today charged the City of South Miami, Fla., with defrauding bond investors about the tax-exempt financing eligibility of a mixed-use retail and parking structure being built in its downtown commercial district. Additional Materials SEC Order An SEC investiga […]
SEC Charges Chicago-Area Father and Son Conducted Cherry-Picking Scheme at Investment Firm May 16, 2013
FOR IMMEDIATE RELEASE2013-90 Washington, D.C., May 16, 2013 — The Securities and Exchange Commission today charged a father and son and their Chicago-area investment advisory firm with defrauding clients through a cherry-picking scheme that garnered them nearly $2 million in illicit profits, which they spent on luxury homes, vehicles, and vacations. Addition […]
SEC Names Keith F. Higgins as Director of Division of Corporation Finance May 15, 2013
FOR IMMEDIATE RELEASE2013-89 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today named Keith F. Higgins as the new director of the agency’s Division of Corporation Finance. Mr. Higgins comes to the SEC from the law firm of Ropes & Gray LLP where he is a partner in its Boston office with 30 years of experience advising public com […]

TAG | Not properly registered broker

Dec/11

30

Did you Invest with Jason May?

Comments off · Posted by Securities Lawyer in FINRA

Former Ameriprise broker, Jason May (CRD# 4255401), in Delray Beach and Boynton Beach, Florida, has been barred for life by FINRA for failing to respond to FINRA requests for information after he was suspended for 60 days.

Our investigation has uncovered that Mr. May may have encouraged his clients to take out loans through a friend of his at Wachovia. It has been alleged that Mr. May then invested the proceeds in options trading at Options Express. Ameriprise may be liable for the losses sustained by May’s clients at Options Express.

In addition, May failed to sit for the Series 63 or 66 state licensing exams. As a result, May was not properly registered in the state of Florida during his tenure with Ameriprise. Accordingly, Ameriprise may be held liable for any losses sustained, or fees, commissions, or costs paid by those clients to Ameriprise. It is believed that Ameriprise failed to disclose to May’s clients that he wasn’t properly registered. Instead Ameriprise advised clients that May had changed positions with the firm, which happened to be a non-registered paraplanner.

After May continued acting in a registered capacity, our investigation has uncovered that Ameriprise failed to fully report the reasons for May’s departure from the firm on May’s CRD. Due to May’s improper registration, May’s clients at Ameriprise may be entitled to recovery for losses sustained. Furthermore, clients suffering losses through May at Options Express may also be entitled to recovery from Ameriprise for May’s selling away

If you had dealings with former Ameriprise broker Jason May please contact Soreide Law Group for a free consultation at (888) 760-6552 or locally at (954) 760-6552 or visit us on the web at http://www.securitieslawyer.com

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