FINRA Bars Wedbush Broker Jonathan Walter Way after Allegations of Sales Practice Violations  

 On June 26, 2023, the Financial Industry Regulatory Authority (FINRA), the self-regulator who oversees brokers and brokerage firms, reportedly barred Jonathan Walter Way (CRD#: 1126849) from the securities industry.   

 According to a Letter of Acceptance, Waiver and Consent, Way violated FINRA Rules 8210 and 2010 by refusing to provide documents in FINRA’s investigation. The regulator was reportedly reviewing a Form U5 filed by Wedbush Securities, which stated that Way was permitted to resign while under internal review for “potential sales practice violations.”   

A Wedbush customer reportedly filed a complaint against Way last December for allegations of “excessive, unauthorized, and unsuitable trading.” The damage amount requested was $1,000,000 and is still pending, according to his broker report.  

Jonathan Walter Way – 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.

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.    

According to Way’s broker check report, he has three customer complaints filed against him. Allegations include unsuitable investments, among others. Way was reportedly affiliated with Wedbush Securities in Napa, California from 2002 until August 2022. He was employed by ten other firms prior to his registration with Wedbush, according to his FINRA broker check profile.   

Failure to Supervise     

FINRA Rule 3110 (Supervision) requires a firm to establish and maintain a system to supervise the activities of its associated persons that is reasonably designed to achieve compliance with the applicable securities laws and regulations and FINRA rules.       

All broker-dealers have a responsibility to adequately supervise its employees.  Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses. If your broker has defrauded you, you may be able to file a FINRA claim against your brokerage firm.     

             
Broker Investigation – Jonathan Walter Way

The White Law Group is investigating potential securities claims involvingWedbush Securities and its alleged failure to supervise broker Jonathan Walter Way.     

When brokers violate securities laws, such as making unauthorized trades or misappropriating funds, 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.       

Hiring a FINRA Attorney          

The experienced FINRA attorneys at the White Law Group can help you with the arbitration process including evaluating the merits of your claim and determining whether you have a strong case for arbitration.            

After drafting a statement of claim that accurately reflects the allegations of fraud and the damages you are seeking, our attorneys will 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 Jonathan Walter Way, 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, whitesecuritieslaw.com.