roker Jason Wilk Possibly Made Unsuitable Trades
Financial Industry Regulatory Authority (“FINRA”) BrokerCheck reveals quite troubling information in regard to securities broker Jason Andrew Wilk (CRD#: 6072438, New York, New York). Evidently, FINRA suspended Wilk as a securities broker between 2019 and 2020 for non-compliance with a request for information. Not only that, but no less than five investors complained about Wilk’s sales practices. It seems from these disputes that Wilk caused investor losses by recommending or selling unsuitable securities. Read on for a summary of Wilk’s disclosures:
FINRA Suspends Wilk As Securities Broker
First of all, between November 25, 2019 and February 21, 2020, FINRA suspended Wilk in his capacity as a securities broker. It appears that the financial industry watchdog asked Wilk for information in 2019 but Wilk refused or ignored the request. In fact, FINRA was planning on barring Wilk by February 3, 2020 if he did not request a termination of his suspension. Notably, FINRA’s sanctions come after six or more investors brought complaints about Wilk. Therefore, FINRA’s inquiry possibly focused on his sales practice violations.
Worden Capital Management Client Indicates That Jason Wilk Breached A Fiduciary Duty
Evidently, on October 28, 2019, a client of Worden Capital Management brought FINRA Arbitration Action #: 19-02607 about Jason Wilk. First of all, the client suggested that Wilk misrepresented facts in connection with the customer’s 2017-2018 investments in OTC equities and stocks. Secondly, Wilk supposedly breached a fiduciary duty, placing his interests ahead of the client’s interests with respect to those transactions. Thirdly, the client suggested that Wilk was negligent. Finally, Worden Capital Management supposedly failed to supervise Wilk. For this reason, the client demanded between $100,000 and $500,000 in compensation. Currently, this matter is ongoing.
Wilk Allegedly Sells Unsuitable Investments To National Securities Corp Client
Apparently, a National Securities Corp client took aim at Wilk by making a complaint on June 3, 2016. Namely, the client indicated that Wilk engaged in unsuitable trading of OTC equities. It seems that Wilk failed to take into account the client’s investment objectives, risk tolerance or some other suitability factors. Evidently, National Securities Corp resolved this matter through making a $15,000 payment to the client on or about September 7, 2016.
National Securities Corp Client Suggests That Jason Wilk Made Unauthorized Trades
Evidently, a client of National Securities Corp contested Jason Wilk’s actions via a complaint dated July 20, 2016. Similar to the other investors who filed disputes about Wilk, this client suggested that Wilk made unsuitable trades. However, Wilk also allegedly made equities trades which the client did not know about or otherwise authorize. It appears that National Securities Corp settled this unauthorized and unsuitable trading dispute through a $15,000 payment to the customer on September 7, 2016.
Losses From Jason Wilk?
Have you experienced losses by investing with Jason Wilk? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel in regard to possibly recovering your investment losses. Soreide Law Group represents clients on a contingency fee basis and will advance all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of financial advisors and securities brokers like Wilk.