Jason Andrew Wilk (also known as Jason Andrew Wilks) of New York New York a stockbroker formerly registered with Worden Capital Management LLC has been charged by Financial Industry Regulatory Authority (FINRA) with failing to comply with an investigation into accusations of his excessive trading in customer accounts when he was registered with Worden Capital Management. Letter of Acceptance Waiver and Consent No. 2019060753502 (October 27, 2021).
According to the Complaint, an investigation into Wilk’s trading commenced in 2019, where FINRA sought to find out whether Wilk executed excessive trades in the account of a Worden Capital Management customer. FINRA alleged that from May of 2018 to March of 2019, Wilk’s trades caused the customer’s account to have a high turnover rate and cost-to-equity ratio.
The Complaint alleges that when Wilk was under investigation, he was asked to testify before FINRA regulators regarding his trading. But Wilk supposedly did not appear on July 27, 2021, and September 14, 2021. FINRA indicated that on September 22, 2021, that he wanted to testify. This resulted in FINRA providing additional dates for him to appear.
Wilk allegedly failed to contact FINRA regarding his availability. He failed to testify, according to the regulator. Wilk allegedly violated FINRA Rules 2010 and 8210 for this reason. The regulator seeks sanctions against him for obstructing the investigation into his potentially excessive trading.
FINRA Public Disclosure shows that Wilk has been identified in six customer initiated investment related disputes regarding accusations of his wrongdoing while employed by securities broker dealers, including Meyers Associates LP, Worden Capital Management, and National Securities Corp.
On September 7, 2016, a customer initiated investment related complaint concerning Wilk’s activities was resolved for $15,000.00 in damages founded on accusations of unauthorized and unsuitable transactions by Wilk while he was employed by National Securities Corp. Wilk is referenced in another customer initiated investment related written complaint that was settled for $15,000.00 on September 7, 2016, supported by allegations that over-the-counter equities trades were not suitable for the customer.
On June 12, 2018, a different customer initiated investment related FINRA securities arbitration claim regarding Wilk’s conduct was resolved for $14,999.99 in damages based upon accusations that over-the-counter equities transactions were not suitable for the customer. FINRA Arbitration No. 16-01526. The claim also alleges that Wilk effected unauthorized trades resulting in damages.
Wilk is also the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $162,500.00 in damages founded on allegations of negligence and breach of fiduciary duty between 2017 and 2018 during the period that Wilk was associated with Worden Capital Management. FINRA Arbitration No. 19-02607 (June 29, 2021). According to the claim, Worden Capital Management failed to supervise Wilk’s over-the-counter equities transactions. The claim also alleges that Wilk made misrepresentations regarding stocks. The customer had allegedly been defrauded.
Wilk was registered with Worden Capital Management between October 20, 2017, and April 17, 2019.
