Broker Barred by FINRA for Misappropriation of Client's Funds

This information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, August, 2013,” by Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552.

Jon Eric Guay (CRD #2837453, Registered Representative, San Jose, California)

was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Guay consented to the described sanction and to the entry of findings that he received a approximately $225,000 from clients after making representations, which were not true, that he would use their funds to open a futures trading account or to invest in a company where the funds would earn 3 percent annually. Guay instead deposited the funds into a bank account under his control and made improper use of the funds, which included payment of personal expenses and trading in his personal futures accounts.
Jon Guay participated in a brokerage client’s securities transaction involving a $300,000 investment in a mutual fund. Guay failed to provide his firm with written notice about his plans to recommend and facilitate the mutual fund purchase, his role in doing so, or anticipated compensation he expected to receive.
(FINRA Case #2013035577901)

Jon Eric Guay was previously registered with FINRA at the following brokerage firms according to FINRA's BrokerCheck:

WUNDERLICH SECURITIES, INC.
CRD# 2543
MEMPHIS, TN
02/2011 - 01/2013

QA3 FINANCIAL CORP.
CRD# 14754
WALNUT CREEK, CA
05/2008 - 02/2011

CUNA BROKERAGE SERVICES, INC.
CRD# 13941
CONCORD, CA
10/2000 - 05/2008

This ends the information from FINRA’s website.

Please call Soreide Law Group for a free consultation with an attorney on how to potentially recover your losses: 888-760-6552.

This information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, August, 2013,” by Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552.

Jon Eric Guay (CRD #2837453, Registered Representative, San Jose, California)

was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Guay consented to the described sanction and to the entry of findings that he received a approximately $225,000 from clients after making representations, which were not true, that he would use their funds to open a futures trading account or to invest in a company where the funds would earn 3 percent annually. Guay instead deposited the funds into a bank account under his control and made improper use of the funds, which included payment of personal expenses and trading in his personal futures accounts.
Jon Guay participated in a brokerage client’s securities transaction involving a $300,000 investment in a mutual fund. Guay failed to provide his firm with written notice about his plans to recommend and facilitate the mutual fund purchase, his role in doing so, or anticipated compensation he expected to receive.
(FINRA Case #2013035577901)

Jon Eric Guay was previously registered with FINRA at the following brokerage firms according to FINRA's BrokerCheck:

WUNDERLICH SECURITIES, INC.
CRD# 2543
MEMPHIS, TN
02/2011 - 01/2013

QA3 FINANCIAL CORP.
CRD# 14754
WALNUT CREEK, CA
05/2008 - 02/2011

CUNA BROKERAGE SERVICES, INC.
CRD# 13941
CONCORD, CA
10/2000 - 05/2008

This ends the information from FINRA’s website.

Please call Soreide Law Group for a free consultation with an attorney on how to potentially recover your losses: 888-760-6552.