The Financial Industry Regulatory Authority (“FINRA”) has issued a suspension and fine to securities broker Caleb A. Jamison (CRD#: 5645954, Little Rock, Arkansas) Not only that, but MassMutual terminated the securities broker for allegedly failing to tell his securities firm about outside business activities.
Apparently, securities brokers like Caleb Jamison are required under FINRA rules to provide written notice of private securities transactions to their employers which describes in detail the broker’s proposed transaction and their role. Notably, brokers who do not provide this notice typically violate FINRA Rule 3280. It appears that Jamison consented – or chose not to contest – FINRA’s position that he failed to comply.
Evidently, in Caleb Jamison’s case, he purchased securities valued at $15,000. It seems that this money went into a pooled real estate investment. Apparently, Jamison bought into an Arkansas-based company that was created to buy and maintain Florida vacation rental property. However, he did not make MML (MassMutual) aware of this. FINRA says that the securities broker even handed MML a falsely completed annual compliance questionnaire. Evidently, his suspension was effective through April 27, 2020.
Apparently, on Jamison’s record, another glaring disclosure exists. Namely, in June 2018, Jamison submitted a voluntary resignation from MassMutual. Evidently, he failed to disclose outside business activities. It appears that Jamison did not tell MassMutual whether and to what extent real estate transactions were connected to his official business as one of its securities brokers.
It is possible that Jamison sold you bad investments. Have you experienced losses by investing with him? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities brokers and financial advisors.
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