Jeffrey John Kartheiser of Sun City Center Florida a stockbroker formerly registered with Raymond James Financial Services has been ordered by Florida Office of Financial Regulation to pay a $20,000.00 fine, to cease and desist violating securities laws or rules in Florida, and to refrain from any supervisory or managerial duties in the securities industry based on findings of Kartheiser failing to supervise stockbrokers at Raymond James. Case No. 69581a-S (Mar. 11, 2020).
Kartheiser has been identified in two customer initiated investment related disputes regarding accusations of his harmful conduct while employed by Raymond James. FINRA Public Disclosure states that a customer filed an investment related complaint involving Kartheiser’s activities in which the customer sought $43,312.55 in damages founded on allegations that unauthorized transactions were executed in their account when Kartheiser was associated with Raymond James Associates. According to the complaint, the Raymond James stockbroker also effected unsuitable over-the-counter equities trades.
Kartheiser is the subject of a different customer initiated investment related written complaint where the customer requested $66,567.00 in damages based on accusations of their account being churned at Raymond James. The complaint alleges that excessive commissions were charged to the customer and that trades were made without their consent.
Kartheiser was associated with Raymond James Associates as a stockbroker and investment adviser representative between April 12, 1990 and January 17, 2017. He was discharged by the securities broker dealer supported by allegations of his failure to properly supervise employees of the branch and for failing to manage risks properly. On March 3, 2017, Kartheiser became associated with Stifel Nicolaus Company Incorporated as a stockbroker and investment adviser representative.