FINRA Issues Suspension To Theodore Serure

Soreide Law Group is investigating possible investor claims against securities broker Theodore M. Serure (CRD: 419023, New York, New York). Evidently, FINRA sanctioned the securities broker, who worked for Jefferies LLC. Allegedly, Serure borrowed client funds in violation of FINRA rules. Here is a brief summary of FINRA’s allegations against Serure.

FINRA Suspends Theodore Serure For Client Loan

Particularly, on November 9, 2022, FINRA issued Acceptance, Waiver, and Consent No. 2019063945301 sanctioning Theodore Serure for infractions. Specifically, Serure was suspended for four months as a securities broker and fined $20,000. Serure, without admitting or denying the findings, agreed to the sanctions. The findings reveal that he borrowed around $7.3 million from his clients. He did so without informing them or obtaining approval from his member firms.

Loan Amounts and Repayment

Notably, FINRA’s findings state that Serure's indebtedness to his clients never exceeded $2 million. He utilized a portion of the borrowed funds to settle previous client loans. Ultimately, Serure repaid all of the loans from his clients. 

Wealthy and Sophisticated Clients 

Supposedly, all of the individuals from whom Serure borrowed money were affluent and financially knowledgeable. For instance, one of them is a billionaire, another is a Nobel Prize laureate, and a third is a former CEO of a significant financial institution.

Serure Employment Information

• Serure has worked for Jefferies LLC in New York, New York, as a securities broker since September 13, 2019.
  
• Serure worked for J.P. Morgan Securities LLC in New York, New York, as a securities broker from November 15, 1975, to September 16, 2019.

Damages Resulting From Jefferies LLC Securities Broker Theodore Serure?

Have you incurred damages due to Theodore Serure? If so, contact Soreide Law Group at (888) 760-6552 and speak with a securities attorney about a potential recovery of your losses. Soreide Law Group, who has successfully recovered money for hundreds of investors throughout the United States, represents clients on a contingency fee basis and advances all costs. Serure and brokerage firms Serure worked for deny any and all allegations of sales practice violations.