Jonathan Micheal Gervaise of Radnor, Pennsylvania, a stockbroker associated with Lincoln Financial Distributors Inc., has been barred permanently from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Gervaise failed to respond to FINRA requests for information. FINRA Case No. 2023037892501 (May 2, 2024).
FINRA initiated an investigation into Gervaise’s activities and requested information from him. Despite the requests, Gervaise did not provide the required information. FINRA issued a Notice of Suspension on January 29, 2024, followed by a Suspension from Association letter on February 22, 2024.
FINRA Rule 9552(h) states that if an individual does not request termination of their suspension within three months, they will be automatically barred. Gervaise did not comply within this timeframe, leading to his permanent bar in all capacities, effective May 2, 2024.
FINRA Public Disclosure additionally shows that on September 28, 2020, a customer filed an investment related complaint involving Gervaise’s conduct in which the customer requested $6,000.00 in damages based upon allegations that Gervaise did not properly explain tax consequences of variable annuity withdrawals when Gervaise was associated with Lincoln Financial Distributors Inc. This complaint was closed with no further action taken by the customer.
Gervaise was associated with Jackson National Life Distributors LLC in Franklin, Tennessee from January 19, 2023, to May 31, 2023; Pruco Securities LLC. in Webster, New York from April 5, 2022, to December 16, 2022; and Lincoln Financial Distributors Inc. in Radnor, Pennsylvania from September 9, 2019, to April 1, 2022.
