Jamie John Worden of New York New York the Owner and CEO of Worden Capital Management LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he failed to comply with FINRA’s investigation into a private placement offering of pre-IPO securities through Worden Capital Management between 2019 and 2020. Letter of Acceptance Waiver and Consent No. 2019064746501 (October 14, 2021).
According to the AWC, on September 27, 2021, Worden was instructed by FINRA to hand over documents and information in the investigation. Worden’s lawyer told FINRA on September 29, 2021, that Worden understood the request and did not plan to cooperate with it. Worden refused to turn over the information and documents that FINRA asked for. He violated FINRA Rules 2010 and 8210 for this reason.
This is not the first time that FINRA has sanctioned Worden. He has been fined $15,000.00 and suspended from associating with any FINRA member in any capacity supported by findings that he failed to create and implement a supervision system that would comply with rules relating to suitability and excessive trading and had hampered customers’ requests to relocate their accounts. Letter of Acceptance Waiver and Consent No. 2017056432601 (December 31, 2020). He violated FINRA Rules 2010, 3110, and 2140.
FINRA Public Disclosure shows that Worden has been identified in fourteen customer initiated investment related disputes containing allegations of his improper actions when associated with Worden Capital Management. On April 28, 2021, a customer filed an investment related FINRA securities arbitration claim concerning Worden’s activities. They requested $31,944.00 in damages founded on accusations of Worden’s failure to supervise as it pertained to stock and over-the-counter equities trades effected in the customer’s account. FINRA Arbitration No. 21-01101.
Worden is the subject of a different customer initiated investment related FINRA securities arbitration claim in which the customer sought $653,700.00 in damages based upon allegations of negligent supervision between August of 2017 and December 2019, resulting in unsuitable over-the-counter equities and stock trades for the customer’s Worden Capital Management account. FINRA Arbitration No. 21-01521 (July 7, 2021).
On July 8, 2021, another customer filed an investment related FINRA securities arbitration claim concerning Worden’s conduct. They requested $330,113.00 in damages based on accusations of failed supervision by Worden relating to stock trades between 2016 and 2020 at Worden Capital Management. FINRA Arbitration No. 21-01716.
Worden is also referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer sought $1,277,631.00 in damages founded upon allegations of a breach of fiduciary duty and breach of contract relating to securities transactions. FINRA Arbitration No. 21-01931 (August 9, 2021). According to the claim, the Worden Capital Management stockbroker made misrepresentations and omissions and made unsuitable and excessive trades. The allegations also include failure to supervise, churning, and fraud.
On August 24, 2021, an additional customer filed an investment related FINRA securities arbitration claim concerning Worden’s activities. They requested $30,133.13 in damages supported by allegations of fraudulent transactions and churning of their Worden Capital Management account. FINRA Arbitration No. 21-02174. The claim alleges omissions and misrepresentations about stock trading. The claim also alleges the breach of both a contract and fiduciary duty. Worden allegedly failed to supervise the activities of the stockbroker.
Worden is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $185,000.00 in damages founded upon accusations that from September of 2017 to May of 2021, their account was exposed to unsuitable trading and churning of common and preferred stock and over-the-counter equities. FINRA Arbitration No. 21-02184. The claim alleges negligent supervision and failure to supervise by Worden. Transactions were allegedly misrepresented and executed in breach of contract.
On August 25, 2021, another customer filed an investment related FINRA securities arbitration claim involving Worden’s conduct. They requested $3,145,266.85 in damages based on allegations of churning, fraud, unsuitable trading, breach of fiduciary duty, misrepresentation, and negligent supervision between February of 2016 and April of 2021. FINRA Arbitration No. 21-02186.
Worden was associated with Worden Capital Management between February 18, 2009, and October 14, 2021.