Jason Edward Seurer of Maple Plain, Minnesota, a stockbroker registered with Landolt Securities Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $100,000.00 in damages based upon allegations that Seurer made unsuitable investment recommendations of GWG L-bonds when Seurer was associated with Landolt Securities Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-01077 (November 29, 2022).
FINRA Public Disclosure shows that Seurer has been referenced in six other customer initiated investment related disputes concerning Seurer’s conduct while associated with securities broker dealers, including Edward Jones. On August 9, 2011, a complaint involving Seurer’s conduct was settled for $10,000.00 in damages based upon allegations that Seurer made unsuitable recommendations of over-the-counter equities.
Seurer was also referenced in a complaint that was settled on September 23, 2011, for $775,000.00 in damages based upon allegations that Seurer caused the customer to invest in Gibraltar Partners Inc. promissory notes resulting in losses.
On October 10, 2011, a complaint involving Seurer’s conduct was settled for $25,000.00 in damages resulting from the customer’s investment in Gibraltar Partners Inc. promissory notes.
FINRA Public Disclosure also shows that Seurer has been fined $10,000.00 and suspended for eighteen months from associating with any FINRA member in any capacity because Seurer engaged in private securities transactions or selling away. Letter of Acceptance, Waiver, and Consent No. 2011027116501 (August 30, 2012).
According to the AWC, during the time that he was associated with Edward Jones, Seurer referred customers to a private investment company without providing notice to (or receiving approval from) Edward Jones. FINRA states that Seurer solicited and recommended that customers invest in a private placement offering. Seurer had the customers invest $625,000.00, $300,000.00, and $500,000.00, respectively, in the private placements. Seurer earned $25,000.00 in commissions as a result of his services. Seurer failed to inform Edward Jones about his selling away activities. Therefore, Seurer violated FINRA Rule 2010 and NASD Rule 3040.
On January 20, 2017, Seurer was suspended as a securities agent for two years by South Dakota Division of Securities because Seurer engaged in private securities transactions.
On April 20, 2022, Seurer was fined $5,000.00 by South Dakota Division of Securities because Seurer failed to comply with a registration agreement and a consent order.
Seurer has been associated with Landolt Securities Inc. in Maple Plain, Minnesota, as a stockbroker since November 8, 2018, and as an investment advisor representative since February 12, 2021.