Johnnie Jones Suspended By FINRA, Involved In NSC Investor Disputes

Securities Broker Johnnie Jones Suspended By FINRA, Involved In Investor Disputes

Soreide Law Group has new information to share with you concerning securities broker Johnnie Melvin Jones (CRD#: 2705042, Syosset, New York). Evidently, Jones worked for National Securities Corporation (2013 to 2016) and Network 1 Financial Securities Inc. (2016 to 2021). According to Financial Industry Regulatory Authority (FINRA), on July 22, 2021, it suspended Jones as securities broker. Not only that, but FINRA reports that Jones has a history of client disputes, liens and judgments, and an employment separation. Let’s take a closer look at these disclosures.

FINRA Suspends Johnnie Jones As Securities Broker

Notably, FINRA suspended Jones, meaning that he cannot associate with a FINRA-member broker-dealer. The suspension commenced August 16, 2021. It comes as a result of Jones failing to respond to a request by FINRA for information relating to an investigation into Jones’s activities. FINRA rules call for brokers to cooperate with investigations including the regulator’s requests for information and documents. Failing to comply with those requests typically results in FINRA’s suspension or bar (expulsion) of the securities broker. Notably, the regulator might bar Jones if he doesn’t cooperate by October 24, 2021.

Johnnie Jones Sanctioned By FINRA In 2019

Also, in 2019, FINRA suspended Johnnie Jones given accusations of him failing to comply with an arbitration award or settlement. However, it appears that FINRA lifted that suspension in October 2019.

John Thomas Financial Client Alleges Breach Of Fiduciary Duty In Dispute About Johnnie Jones

Evidently, a client of John Thomas Financial disputed Johnnie Jones’s sales practices in March 2017. Notably, this client alleged misrepresentation, unsuitable investments, and a breach of fiduciary duty. According to FINRA, the client sought damages in the amount of $112,000. Ultimately the matter settled through John Thomas Financial paying the client $25,000.

National Securities Corp Client Alleges Negligence

Moreover, in 2015, a client of National Securities Corporation took issue with Johnnie Jones’ sales practices. This June 2015 FINRA Arbitration Claim contains allegations of breach of fiduciary duty and negligence. It appears that Jones caused damages to this client. Because of this, the client received $10,000 in a settlement.

John Thomas Client’s Dispute Contains Allegations Of Misrepresentation By Johnnie Jones

Additionally, a 2013 FINRA Arbitration Claim, the client alleged misrepresentation, suitability, and breach of fiduciary duty relating to Jones’ over-the-counter equities transactions. Evidently, John Thomas Financial settled with this client in 2016.

Losses By Investing In Securities Through Jones?

Apparently, Johnnie Jones denies allegations of sales practice violations. Have you experienced investment losses because of 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 compensation for many US clients who have experienced losses because of their securities brokers and financial advisors.