Ron Jason Ison of Little Silver New Jersey a stockbroker formerly registered with Buckman Buckman and Reid Inc. was 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 of Ison effecting unsuitable and unauthorized trades in customer accounts. Letter of Acceptance Waiver and Consent No. 2017053698501 (Apr. 13, 2018).
According to the AWC, on January 22, 2018, FINRA sent Ison a letter requesting that Ison provide recorded testimony before FINRA personnel in reference to accusations against him of effecting unsuitable and unauthorized transactions. The AWC stated that on March 15, 2018, Ison made an appearance before FINRA personnel, where he was asked by FINRA personnel to make additional appearances for his testimony on March 27 to March 28 of 2018.
Evidently, Ison’s counsel reached out to FINRA personnel on March 26, 2018, revealing that Ison understood FINRA’s request but would not be testifying further for FINRA personnel in reference to its investigation into his activities. FINRA found Ison’s failure to cooperate to be violative of FINRA Rules 2010 and 8210, resulting in his permanent bar.
FINRA Public Disclosure confirms that Ison has been referenced in six customer initiated investment related disputes containing allegations of Ison’s wrongful conduct during the time that he was associated with Mercer Capital Ltd. In particular, a customer filed an investment related complaint concerning Ison’s activities where the customer sought $20,000.00 in damages based upon accusations of unauthorized and unsuitable stock transactions in the customer’s account.
Subsequently, a customer initiated investment related arbitration claim that pertained to Ison’s conduct was settled for $90,000.00 in damages founded on allegations that Ison failed to supervise equities transactions that were executed in the customer’s account. FINRA Arbitration No. 09-02510 (June 21, 2011). Ison is also subject of a customer initiated investment related arbitration claim in which the customer was awarded compensatory damages according to an arbitration claim where Ison was found liable on the customer’s claims of misconduct concerning the recommendation and purchase of notes, stock and private placements in companies which included Third Dimension, Nucon, and U.S. Dry Cleaning. FINRA Arbitration No. 10-00417 (Oct. 24, 2011).
Thereafter, Ison was referenced in a customer initiated investment related arbitration claim in which the customer was awarded $19,000.00 in damages according to an arbitration claim where Ison was found liable on the customer’s claims of misconduct relating to the customer’s options, mutual funds and equities portfolio. FINRA Arbitration No. 09-01871 (July 25, 2016). Thereafter, a customer filed an investment related civil action involving Ison’s conduct in which the customer requested $131,000.00 in damages supported by accusations of failure to supervise, misrepresentation, excessive trading, negligence, suitability, breach of fiduciary duty, breach of contract and fraud. Civil Action No. 27-CV-11-1225 (Dec. 1, 2016).
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