Jay Dee Jordan of Oklahoma City, Oklahoma, a stockbroker with WFG Investments, Inc., is the subject of a pending customer initiated investment related arbitration claim filed on July 13, 2016, in which the customer requested $42,000.00 in damages based upon allegations that Jordan of effected unsuitable and unauthorized investment transactions in the customer’s securities account.
FINRA Public Disclosure records also reveal that on April 20, 2016, Jordan became the subject of a customer arbitration claim, in which the customer requested $90,000.00 in damages based upon allegations that Jordan failed to abide by the customer’s instructions to impose stop losses, and failing to properly monitor the investment strategy that was selected for the customer.
Jordan settled a customer dispute for $175,000.00 in damages on September 21, 1995, after the customer alleged that Jordan breached his fiduciary duties to the customer, churned the customer’s account, made misrepresentations to the customer concerning investments, and effected unsuitable investment practices.
On June 25, 2001, Jordan settled a customer dispute for $86,500.00 after the customer alleged that Jordan excessively traded in the customer’s investment account, and effected unsuitable transactions. On July 23, 2002, Jordan settled a customer dispute for $500,000.00 amid allegations against Jordan of effecting trades in a customer’s account without having proper authorization, as well as making investment recommendations that were not suitable for the customer.
On November 29, 2002, Jordan settled a customer dispute for $160,000.00 basd upon customer allegations that Jordan made unauthorized and unsuitable trades in the customer’s investment portfolio. On July 31, 2015, a customer requested $164,644.83 in damages again based upon allegations that Jordan effecting unauthorized trades in the customer’s account.
WFG Investments, Inc. terminated or fired Jordan on March 31, 2016, because Jordan failed to follow the firm’s supervisory procedures, which included Jordan failing to report to his firm regarding a customer complaint, as well as misstating outside business activities to his firm which Jordan was involved in.
Guiliano Law Group
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