Jason Andrew Wilk (also known as Jason A. Wilks) of New York, New York, a stockbroker formerly registered with Worden Capital Management, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Wilk failed to testify in a FINRA investigation regarding allegations of his excessive trading at Worden Capital Management. Department of Enforcement v. Jason A. Wilk, Default Decision, Disciplinary Proceeding No. 2019060753502 (March 3, 2022).
FINRA investigated Wilk beginning in 2019 to identify if he engaged in excessive trading of a customer’s account. Department of Enforcement determined that the trades Wilk made in the customer’s account between May of 2018 and March of 2019 showed that he potentially engaged in excessive trading because of the account’s high turnover rate and cost-to-equity ratio.
Wilk failed to respond to FINRA’s investigation. He did not appear for testimony in 2021. FINRA then brought a Complaint against Wilk on November 26, 2021. The Complaint alleged that Wilk violated FINRA Rules 2010 and 8210 for failing to appear. The stockbroker failed to respond to the Complaint resulting in the Default Decision in which he was found to have violated FINRA Rules 2010 and 8210. Wilk was barred for obstructing the investigation.
FINRA Public Disclosure reveals that Wilk has been identified in six customer initiated investment related disputes regarding of his activities while employed by securities broker dealers, including Worden Capital Management, Meyers Associates LP, and National Securities Corp. Wilk is the subject of a customer initiated investment related arbitration claim which was resolved for $10,000.00 in damages based upon allegations of breach of fiduciary duty by Wilk at Meyers Associates LP. FINRA Arbitration No. 15-03305 (March 4, 2016). According to the claim, unauthorized and unsuitable transactions were made in the customer’s account.
On September 23, 2016, another customer initiated investment related complaint concerning Wilk’s activities was settled for $22,500.00 in damages supported by accusations that unauthorized transactions involving over-the-counter equities were executed in the customer’s account by Wilk when he was associated with National Securities Corp.
Wilk is referenced in a customer initiated investment related written complaint which was resolved for $15,000.00 on September 7, 2016, founded on allegations of Wilk making unsuitable trades in the customer’s National Securities Corp account. The Complaint also alleges unauthorized trading of over-the-counter equities.
On September 7, 2016, another customer initiated investment related complaint regarding Wilk’s conduct was settled for $15,000.00 in damages based upon accusations of unsuitable over-the-counter equities transactions while Wilk was registered with National Securities Corp.
Wilk is identified in a customer initiated investment related arbitration claim which was resolved for $162,500.00 in damages supported by allegations of negligence and failure to supervise by Worden Capital Management relating to common stock trades between 2017 and 2018. FINRA Arbitration No. 19-02607 (June 29, 2021). According to the claim, Wilk breached a fiduciary duty to the customer in reference to equity transactions. The claim also alleges fraud.
Wilk was employed by National Securities Corporation between August 14, 2015, and May 13, 2016, Windsor Street Capital LP between November 8, 2016, and January 4, 2017, Craft Capital Management LLC between May 11, 2017, and September 11, 2017, and Worden Capital Management between October 20, 2017, and April 17, 2019.
