Jon Lake Cause Your Investment Losses?

Broker Jon Lake Suspended By FINRA, Terminated By Wells Fargo

Soreide Law Group is reviewing possible investor claims against securities broker Jonathan R. Lake [CRD#: 1385504, Westport, Connecticut]. Apparently, FINRA suspended the securities broker from November 11, 2019 to March 11, 2020. Not only that, but Wells Fargo Clearing Services terminated him and his clients complained about him. Here is a brief summary of the allegations against Lake:

FINRA Suspends Jon Lake In All Capacities

Notably, FINRA suspended Lake from November 11, 2019 to March 11, 2020 for failing to pay a FINRA arbitration award. It appears that FINRA also suspended him from March 8, 2018 to March 19, 2018 for similar circumstances. Particularly, Lake did not comply with the resolution of a dispute or that he did not provide compliance information to FINRA.

Wells Fargo Disaffiliates With Lake For Receiving Loan From Client

Apparently, Jon Lake worked for Wells Fargo Clearing Services between August 4, 2017 and December 2, 2019. Notably, Wells Fargo Clearing Services disaffiliated with Lake for cause. Supposedly, Lake received a loan from the securities firm's client when this was forbidden under firm policy. It is possible that the client complained about this loan.

Jon Lake Allegedly Asks Client To Improperly Sign, Date Documents

Moreover, on April 11, 2019, the executrix of a Wells Fargo Advisors client made a formal complaint about Jon Lake. Mainly, the executrix contended that Lake asked the client to sign and back-date documents that related to matured investments. However, this claim was denied by Wells Fargo Advisors on May 13, 2019.

Lake Allegedly Sells Unsuitable Investments To Morgan Stanley Smith Barney Client

Apparently, a client of Morgan Stanley Smith Barney contested Jon Lake’s securities recommendations or sales in a complaint dated November 7, 2017. Specifically, Lake's trades from 2014 to 2015 allegedly conflicted with the client's investment profile. Supposedly the stocks and bonds Lake recommended or sold had caused the client to experience losses. However, this dispute was denied by Morgan Stanley.

Losses From Wells Fargo Clearing Services Securities Broker Jon Lake?

Have you experienced losses by investing with securities broker Jon Lake? 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 like Lake and his employing brokerage firms.