FINRA assessed Jason Daniel Sayles a deferred fine of $15,000 and suspended him for 10 months.

Furgison Law Group investigates claims against Jason Daniel Sayles

The securities fraud lawyers at Furgison Law Group are currently investigating claims against Jason Daniel Sayles, NFP Securities, Inc., and Cetera Financial Specialists, LLC. The arbitration specialists at Furgison Law Group are investigating claims involving allegations of breach of fiduciary duty, failure to supervise, misrepresentations, omissions of material facts, conflict of interests, violations of state and federal securities laws, along with other broker misconduct.

FINRA fined and suspended Jason Daniel Sayles

FINRA assessed Jason Daniel Sayles (CRD #4140191, St. Petersburg, Florida) a deferred fine of $15,000 and suspended him from association with any FINRA member in any capacity for 10 months. Sayles consented to the sanctions and to the entry of findings that he exceeded the scope of the permission he was given by his member firms to engage in the business of a CPA firm as an outside business activity. The findings stated that though Sayles was required to notify his firms of his involvement with the CPA firm in writing, in accordance with the firms’ procedures, he failed to do so for four years. When Sayles updated his outside business activity form to include the CPA firm, his firms approved his involvement. Through the CPA firm, Sayles assisted customers in opening and administering self-directed IRAs. Some customers opening self-directed IRA accounts were also customers of Sayles’ firms. Some of these customers transferred a total of nearly $1.8 million in cash and assets from their firm accounts to their self-directed IRA accounts, and many of the customers held securities in their accounts. Sayles continued to engage in this business for approximately three months after his firms directed him to cease. The findings also stated that Sayles was involved with other outside business activities that he was obligated to disclose to his firms in writing, as WSPs required, but failed to do so. Sayles also failed to properly disclose his involvement with outside business activities to a new member firm upon association. The findings also included that Sayles participated in private securities transactions effected in customers’ self-directed IRAs totaling more than $2.3 million that were done away from his firms. Sayles was required to notify his firms in writing of his participation prior to participating, but he failed to do so. The suspension is in effect from February 1, 2016, through November 30, 2016. (FINRA Case #2013037390601)

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered loses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages.

Can I recover my investment losses?

If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Jason Daniel Sayles, NFP Securities, Inc., and Cetera Financial Specialists, LLC., please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.