Former Illinois Broker, JAY R WEISER, Barred by FINRA

JAY R WEISER (CRD#: 1511042) was barred by the Financial Industry Regulatory Authority (FINRA) on January 17, 2019, from acting as a broker or otherwise associating with a broker/dealer firm following allegations that he failed to cooperate with FINRA's requests for documents and for on-the-record testimony related to its investigation into his conduct regarding the sale of Promissory Notes and interests. FINRA was conducting an investigation to determine whether Jay R Weiser engaged in unapproved private securities transactions.
According to the Letter of Acceptance, Waiver and Consent, in November of 2018, FINRA initiated an investigation into JAY R WEISER's conduct regarding the sale of Woodbridge Promissory Notes and interests in Future Income Payments, LLC, to determine whether Weiser engaged in unapproved private securities transactions. On November 20, 2018, FINRA staff sent Weiser a request for documents and for on-the-record testimony related to its investigation, pursuant to FINRA Rule 8210. By refusing to produce required documents and/or appear for on-the-record testimony as requested pursuant to FINRA Rule 8210, Weiser allegedly violated FINRA Rules 8210 and 2010.
According to FINRA’s BrokerCheck, JAY R WEISER, has 3 Disclosures on his report.  One of these Disclosures is an “Employment Separation After Allegations.” Weiser was discharged from Des Pain Financial Corporation of Collinsville, Illinois, on June 22, 2018, following allegations that his, “Clients allege Weiser sold Regulation D Products & Life Insurance to them that were not suitable to their situation.” There is also a pending ”Customer Dispute” filed in May of 2018 alleging that, Jay Weiser mismanaged retirement assets. The client is seeking damages of $498,047.00.
Weiser had been in the securities industry for 31 years and was listed with 4 firms, the most recent listed below:
06/21/2000 - 06/22/2018  DES PAIN FINANCIAL CORPORATION - COLLINSVILLE, IL 
If you experienced losses due to the actions, recommendations, or the possible failure to supervise former Des Pain Financial Corporation of Collinsville, Illinois, broker, JAY R WEISER, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of you investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group represents clients nationwide before FINRA.  We operate on a contingency fee basis, no fee to you if no recovery.