John Sherman Jumper, of Memphis, Tennessee, a former chief executive officer, chief compliance officer, and chief financial officer of Alluvion Securities, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he obstructed a FINRA investigation into allegations that Jumper misappropriated funds of a pension. Letter of Acceptance, Waiver and Consent, No. 2017052704401 (Feb. 1, 2017).
According to the AWC, Jumper was sent a letter from FINRA on January 12, 2017, based on FINRA Rule 8210, which called upon Jumper to provide recorded testimony before FINRA personnel on January 27, 2017, in reference to allegations that he misappropriated pension assets and utilized the monies for both his personal benefit and for the firm’s capital accumulation needs.
The AWC stated that Jumper made an appearance for FINRA personnel; however, he failed to complete the required testimony. Counsel for Jumper stated to FINRA during Jumper’s testimony that Jumper would not be cooperating further with FINRA personnel at any point. Jumper then departed prior to the completion of the testimony session. Consequently, FINRA found that Jumper’s conduct was violative of FINRA Rules 2010 and 8210, leading to his permanent bar.
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