FINRA Issues Indefinite Bar To Jonathan Way

Soreide Law Group is currently investigating potential claims on behalf of investors who may have suffered financial losses due to the actions of Jonathan Walter Way (also known as Way Walter Jonathan) (CRD: 1126849, Napa, California). Notably, he was employed with Wedbush Securities Inc. from September 23, 2002, to August 18, 2022. Evidently, Way has faced allegations of unauthorized and excessive trading from Wedbush Securities Inc. clients, and he has also been sanctioned by FINRA for refusing to provide requested documents and information.

FINRA Sanctioned Way For Refusal To Provide Documents

Specifically, on June 29, 2023, FINRA issued Case: 2022076025501 sanctioning Jonathan Way for regulatory infractions. Notably, FINRA alleged that Way refused to furnish requested documents and information in connection with an inquiry that originated from a Form U5 filed by his employing firm, Wedbush Securities Inc. This employer stated that Way was allowed to resign while under internal scrutiny for potential sales practice violations. Way initially responded to FINRA's preliminary request but eventually declined to provide the required documents and information. Consequently, Way accepted the sanctions via an Acceptance, Waiver, and Consent (AWC), which resulted in a permanent bar.

Wedbush Securities Inc. Investor Accused Jonathan Way Of Unauthorized And Excessive Trading

Also, on December 23, 2022, a Wedbush Securities Inc. client filed FINRA Arbitration: 22-02793 about Jonathan Way. Additionally, the client accused Way of engaging in unauthorized, unsuitable, and excessive trading. Because of this activity, the client reportedly incurred damages on investments in equities. Therefore, the client has sought $1,000,000 in compensation either from Wedbush Securities Inc. or Way. Evidently, this arbitration is still pending resolution.

Way Disclosed Unauthorized Trading And Churning Allegations By Smith Barney Client

Further, a client of Smith Barney contested Jonathan Way’s sales practices, according to a complaint from 1995. Specifically, Way faced allegations of lack of suitability, unauthorized trading, and churning in connection with various stock investments. As a result, the client claimed damages amounting to $150,000. Smith Barney chose to settle the matter on April 3, 1996, by compensating the client with $85,000, without admitting or denying liability.

Take Action Regarding Your Investment Losses With Jonathan Way

Did you experience losses because of Jonathan Way? If so, reach out to Soreide Law Group online or at (888) 760-6552 and speak with a securities attorney concerning a potential recovery. Soreide Law Group has successfully recovered money for investors throughout the United States, operates on a contingency fee basis, and advances all costs. Way and brokerage firms he has worked for deny accusations of sales practice violations.