Former Nashville Raymond James Representative Fails to Appear for Testimony Regarding Investment Advice on Securities Sold Outside Member FirmThursday, January 2, 2020
On December 6, 2019, the Financial Industry Regulatory Authority (FINRA) Department of Enforcement filed a complaint against Bryce Jenney, a former registered representative associated with Morgan Stanley (December 2015 to January 2018) and Raymond James & Associates, Inc. in Nashville, Tennessee.
According to the Complaint, Raymond James filed a Form U5 upon discharging Jenney, stating that Jenney “provid[ed] investment advice on a product not available through the firm.” Shortly thereafter, FINRA Department of Enforcement requested documents and information regarding these allegations, including all documents concerning his involvement with the security identified in the Form U5.
In response to FINRA’s request, Jenney provided a two-page statement denying that he sold any securities not offered by his member firm and that he did not possess any documents related to the relevant company.
FINRA Department of Enforcement then followed up with another request on July 15, 2019. In this request, FINRA staff asked Jenney to provide a statement describing his relationship with the company in which he denies providing investment advice and bank account statements, among other things. When Jenney did not provide the requested information, FINRA staff sent a letter requesting that he appear and provide testimony on October 16, 2019. The day before the scheduled testimony, Jenney, through an email sent by his counsel, stated that he would not appear for testimony. Another request was sent and Jenney again refused to appear for testimony, thus violating FINRA Rules 8210 and 2010.
FINRA Department of Enforcement is requesting relief to make findings of fact and conclusions of law that Bryce Jenney committed the violations alleged in the complaint and order that sanctions and fines be imposed under FINRA Rule 8310(a) and 8330.
Oftentimes brokerage firms can be held liable for the brokers’ misconduct if they failed to supervise them while registered at the firm. If you lost money due to broker misconduct, you may be able to recover from your broker or the brokerage firm where he was registered. Since 1998, the experienced attorneys at ChapmanAlbin LLC have been fighting for victims of investment fraud and broker misconduct. Call us today at 1-877-410-8172 for a free consultation.