Jonathan Arthur Mayer (also known as Jonathan Mayer), of Westport, Connecticut, a stockbroker formerly registered with Crito Capital LLC, has been fined $5,000.00 and suspended for three months by Financial Industry Regulatory Authority (FINRA) because Mayer engaged in undisclosed outside business activities. Letter of Acceptance, Waiver, and Consent No. 2020068717401 (January 5, 2024).
According to the AWC, between December of 2019 and September of 2021, Mayer owned and operated a separate business as a consultant without notifying Crito Capital. Notably, Mayer’s activities went undetected initially as he failed to provide any written notice to the securities broker dealer, contrary to the firm’s supervisory procedures which required disclosure and prior approval for any outside business activities.
On December 18, 2020, Mayer ultimately disclosed his outside business activities to Crito Capital, which initially approved them. However, approximately five weeks later, on January 25, 2021, the securities broker dealer rescinded its approval. Despite this rescission, Mayer continued his consulting work, receiving compensation through September 2021. In total, Mayer received approximately $90,000.00 from these consulting activities, involving market research, strategic planning, financial modeling, and business advice.
Mayer was found to have violated FINRA Rules 3270 and 2010.
FINRA Public Disclosure also shows that on January 12, 2021, a customer initiated investment related complaint involving Mayer’s conduct was settled for $5,000.00 in damages based upon allegations that the customer was induced into loaning funds to Mayer and that Mayer made misrepresentations of material fact during the time that he was associated with Crito Capital LLC.
Mayer was associated with Profors Advisors in Rye Brook, New York from November 17, 2022, to December 7, 2023. Previously, he was associated with Crito Capital LLC in Westport, Connecticut from December 3, 2019, to January 10, 2022.
