JONATHAN M TURNER Fined and Suspended by FINRA

JONATHAN MICHAEL TURNER (JONATHAN M TURNER, CRD#: 4853469), previously with Ameriprise Financial Services, LLC, of Hershey, Pennsylvania, has been fined and suspended by the Financial Industry Regulatory Authority (FINRA) for allegedly failing to notify his firm of private business transactions. Turner was fined $5,000.00 and suspended for three months, 4/4/2022 - 7/3/2022.
According to the FINRA Acceptance, Waiver & Consent (AWC), without admitting or denying FINRA’s findings, JONATHAN M TURNER consented to the sanctions and to the entry of findings that he allegedly participated in private securities transactions without providing prior written notice to his member firm.
FIRNA’s findings stated that in September of 2019, JONATHAN M TURNER accepted a position as chief investment officer for a credit card processing service, with his employment to start in 2020. According to FINRA, as the company’s chief investment officer, Turner was responsible for, creating new investment vehicles and raising investor capital.
FINRA alleges that in December of 2019, while associated with the firm, JONATHAN M TURNER directed two firm clients to the company’s website, recommended they invest, and supplied them with certain forms needed to purchase the company’s securities.
According to the FINRA report, one client invested $100,000 and funded the investment with cash from a personal bank account and the other client invested $100,000, using the proceeds of stock liquidations from an account at the firm that Turner facilitated. Turner received no commissions or other compensation regarding these transactions.
FINRA states that JONATHAN M TURNER did not provide written notice to his firm prior to participating in the clients’ private securities transactions with the company. Also, FINRA alleges that Turner incorrectly certified in the firm’s annual compliance that he had not engaged in any private securities transactions that were not previously cleared by the firm.
According to FINRA’s BrokerCheck, JONATHAN M TURNER, has been in the securities industry for 10 years.  Turner was previously registered both as a broker and as an investment adviser, and is not currently registered with any firm.  According to FINRA, he was previously listed with the following firm:
03/22/2010 - 04/06/2020  AMERIPRISE FINANCIAL SERVICES LLC  -  HERSHEY PA
If you’ve suffered investment losses due to the actions or recommendations of the former Ameriprise Financial Services, LLC, of Hershey, Pennsylvania, broker/investment adviser, JONATHAN M TURNER, contact Soreide Law Group and speak to an experienced securities lawyer at no cost to you regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis and represents our clients nationwide before FINRA.