FINRA Bars Voya Broker Jay Jaroensabphayanont after Allegations of Unsuitable Investments
According to public documents, the Financial Industry Regulatory Authority (FINRA) has barred financial advisor Jay Jaroensabphayanont (CRD #5393272) from the securities industry. FINRA is the self-regulator that oversees brokers and brokerage firms.
On February 8, 2023, Jaroensabphayanont reportedly failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning his compliance. According to FINRA, while affiliated with Voya Financial Advisors, Jaroensabphayanont was named in a customer complaint that alleged violation of the Securities Act of Washington; violation of the Washington Unfair Business Practices – Consumer Protection Act; breach of fiduciary duty; unsuitable investment recommendations; and negligence.
According to the self-regulator, the suspension became a bar when Jaroensabphayanont reportedly failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning his compliance.
Jay Jaroensabphayanont – FINRA BrokerCheck Profile
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
BrokerCheck provides investors with detailed information about the professional history, qualifications, and regulatory actions of brokers and brokerage firms. Investors can use the tool to verify whether a broker or brokerage firm is registered with FINRA, as well as to review their employment history, licensing status, and any regulatory actions or complaints filed against them.
Jay Jaroensabphayanont was reportedly affiliated with the following firms during his career:
05/29/2008 – 11/13/2019, VOYA FINANCIAL ADVISORS, INC. (CRD#:2882), BELLEVUE, WA,
B, 03/05/2008 – 05/28/2008, INTERSECURITIES, INC. (CRD#:16164), REDMOND, WA
According to his BrokerCheck profile, Jaroensabphayanont has 2 customer disputes and three regulatory disclosures. Regulatory actions taken against a broker may include fines, suspensions and restitution, among others. They can have serious consequences for a broker’s profile and reputation.
In 2021, a customer filed a complaint alleging Jaroensabphayanont sold them multiple “structured investment products” in which they invested $48,000 between November 2015 and September 2019. “The purchases were conducted away from the Firm and claimants allege their investment is now gone and the money taken by the representative,” according to his broker record.
FINRA Attorneys to Recover Investment Losses
When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. FINRA arbitration is generally a faster and less expensive alternative to traditional litigation.
If your broker has defrauded you, you may be able to file a claim with FINRA to seek resolution through arbitration. FINRA arbitration can be a complex and technical process, and having an experienced attorney who is knowledgeable about securities law can greatly increase your chances of success.
The FINRA attorneys at the White Law Group can help you with many aspects of the arbitration process including evaluating the merits of your claim and determining whether you have a strong case for arbitration.
The White Law Group can assist you in drafting a statement of claim that accurately reflects the allegations of fraud and the damages you are seeking. They will also represent you at the arbitration hearing, present evidence and make arguments on your behalf. They may be able to negotiate a settlement for you before going to arbitration.
If you have suffered losses investing with Jay Jaroensabphayanont , the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.
Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.
With over 30 years of securities law experience, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions attempt to recover their investment losses. For more information, please visit our website, www.whitesecuritieslaw.com.
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