Jeremy Joseph Cook of Lafayette, Louisiana submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred for failing to provide documents to FINRA in violation of FINRA Rules 8210 and 2010.
From 2014 through 2019, Jeremy Joseph Cook was registered with UBS Financial Services as a General Securities Representative. According to the FINRA findings, a form U5 was received from UBS disclosing Jeremy Joseph Cook’s termination for allegedly administering commissions to his personal ID number rather than the team trading ID number that would split commissions with the co-brokers. In 2019, FINRA began an investigation concerning whether Jeremy Joseph Cook breached FINRA’s rules by performing the stated misconduct. Following the investigation on April 2, 2020, FINRA sent a request for on-the-record testimony in pursuant to Rule 8210. In addition, Jeremy Joseph Cook received a call and follow-up-email from FINRA at which point he allegedly acknowledged and refused to appear at any given time.
FINRA Rule 8210 authorizes FINRA, in the course of its investigations, to require persons over whom FINRA possesses jurisdiction to “provide information orally, in writing, or electronically and to testify at a location specified by FINRA staff with respect to any matter involved in the investigation” FINRA Rule 2010 provides that “[a] member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.”
Without admitting or denying the FINRA findings, Mr. Cook consented to the sanction and was barred from association with any FINRA member in all capacities.
Stockbrokers have been known to engage in many practices that may violate industry and firm rules, practices, and procedures. In order to protect investors from stockbroker misconduct, FINRA rules require brokerage firms to establish and implement a supervisory system. The implementation of these industry rules requires supervisors to monitor their employees to ensure compliance with federal and state securities laws, securities industry rules and regulations, and the brokerage firm’s own policies and procedures. If broker-dealers and/or their supervisors fail to establish and implement these protective measures, they may be liable to investors for damages which flow from the broker’s misconduct. Therefore, investors who have suffered losses stemming from misconduct by their broker can file claims to recover damages against broker-dealers, like UBS Financial Services, which should consistently oversee its brokers’ activities in order to prevent the above-described misconduct.
Have you suffered losses in your UBS Financial Services account due to misconduct by your broker? Was Jeremy Joseph Cook your stockbroker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against UBS Financial Services stockbrokers who may have engaged in broker misconduct and caused investors’ losses.
The most important of investors’ rights is the right to be informed! This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 40 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors’ rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at email@example.com for answers to any of your questions about this blog post and/or any related matter.