Jon Richard Pariser of Pacific Grove California a stockbroker formerly registered with Independent Financial Group is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $1,202,739.63 in damages based upon accusations of Pariser having involved himself with people who persuaded the customer to invest in fraudulent promissory notes. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01799 (June 12, 2020). The claim alleges that the customer was scammed.
FINRA Public Disclosure confirms that Pariser has been referenced in nine additional customer initiated investment related disputes regarding allegations of his wrongdoing while associated with Independent Financial Group, Linsco Private Ledger Corp, and SWS Financial Services. On July 1, 2019, a customer initiated investment related FINRA securities arbitration claim involving Pariser’s activities was settled for $65,000.00 in damages founded on accusations that during the time that Pariser was associated with Independent Financial Group, he arranged for the customer to invest their variable annuity proceeds in promissory notes through an unregistered broker. FINRA Arbitration No. 18-02753.
Pariser is also the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $700,000.00 in damages supported by allegations of the customer buying promissory notes through unlicensed individuals who had been recommended by Pariser in 2017 and 2018. FINRA Arbitration No. 18-03885 (Nov. 19, 2019). According to the claim, Independent Financial Group failed to supervise Pariser which resulted in him steering the customer towards transferring their money from IFG into the promissory notes.
On February 13, 2020, another customer initiated investment related FINRA securities arbitration claim concerning Pariser’s activities was resolved for $346,500.00 in damages based upon accusations that the customer invested in bad promissory notes because of Pariser. FINRA Arbitration No. 18-02581. According to the claim, the customer had been sold unregistered promissory notes during the period that Pariser was associated with Independent Financial Group.
On May 5, 2020, a different customer filed an investment related FINRA securities arbitration claim regarding Pariser’s conduct in which the customer requested $98,491.68 in damages founded on allegations of the customers being convinced by Pariser to invest with those who operated a fraudulent investment scheme that resulted in the loss of the customers’ entire investment. FINRA Arbitration No. 20-01239. On May 13, 2020, another customer initiated investment related FINRA securities arbitration claim involving Pariser’s conduct was settled for $540,000.00 in damages supported by accusations of bad promissory notes being purchased through individuals who Pariser sold his business to. FINRA Arbitration No. 19-01079.
Pariser has been barred from associating with any FINRA member in any capacity based upon findings that he failed to comply with FINRA during the period that he was investigated for allegedly referring customers to unregistered individuals who potentially sold or recommended bad securities to them. Letter of Acceptance Waiver and Consent No. 2018058207401 (Oct. 4, 2018).
On August 14, 2018, Pariser was told by FINRA to hand over information and documents for purposes of the regulator’s investigation into his referrals. Pariser’s legal counsel told FINRA on August 27, 2018 that Pariser would not comply. FINRA determined that Pariser’s failure to comply constituted the violation of FINRA Rules 2010 and 2810.
Pariser was registered with Independent Financial Group between July 3, 2014 and May 24, 2018.
