FINRA fined securities broker Jennifer Lillian Basey (also known as Jennifer Lillian Hilliard) [CRD: 4730054, McDonough, Georgia], and investors complained about her, based on publicly available information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Hilliard worked for Stifel Nicolaus from January 13, 2020, through November 24, 2023, Edward Jones from January 13, 2004, through December 24, 2019, and has been associated with American Global Wealth Management Inc. since November 16, 2023. Read on to learn more about disclosures involving Hilliard.
FINRA Sanctioned Basey For Alleged Failure To Disclose Investor Complaints
Notably, on May 29, 2026, FINRA issued Case No. 2023080557601 sanctioning Jennifer Basey. Specifically, Basey was suspended from associating with any FINRA member in all capacities for three months and fined $10,000. Notably, FINRA alleged that Basey settled client complaints without firm approval, failed to report complaints to her firm, and used unapproved communications methods for securities-related business.
According to FINRA, Basey compensated two clients between July 2021 and June 2023 to resolve complaints without Stifel's knowledge or consent. FINRA also alleged that she exchanged hundreds of securities-related text messages with clients through an unapproved personal device, causing the firm to maintain incomplete records. In addition, FINRA stated that Basey inaccurately completed compliance questionnaires regarding client complaints and business-related text messaging. FINRA alleged violations of Rules 2010, 4511, and 4513.
Jennifer Basey Disclosed Misrepresentation And Unauthorized Trading Allegations By Stifel Client
Additionally, a client of Stifel Nicolaus contested Basey's sales practices through a written complaint. Allegedly, Basey made misrepresentations by assuring clients that investments were safe. The client also alleged that Basey effected preferred stock transactions without the client’s authorization. The complaint also alleged that cash payments were made after clients complained. It appears that Basey allegedly caused the client to experience damages linked to structured notes and stocks. Therefore, Stifel Nicolaus agreed to settle the matter on December 20, 2023, by compensating the client in the amount of $25,000.
Edward Jones Client Accused Basey Of Misrepresentation
Also, a client filed a complaint about Jennifer Basey. Mainly, the client alleged that Basey made misrepresentations by stating that an investment would earn more interest than alternatives while failing to disclose that it could decline in value. Because of this, the client allegedly experienced damages connected to mutual funds. As a result, on October 23, 2013, Edward Jones settled this matter by paying the client $5,501.62.
Were You Impacted By Securities Broker / Financial Advisor Jennifer Basey?
Do you need guidance on any investment losses relating to Jennifer Basey? Get in touch with Soreide Law Group at (888) 760-6552 or online and consult with a securities attorney regarding a potential recovery of your investment losses. Soreide Law Group has recovered losses for many clients throughout the US. Also, our securities lawyers work on a contingency fee basis and advance all costs. Basey and brokerage firms Basey worked for deny allegations of sales practice violations.
