Jeffrey Scott Nimmow of Merrimac, Wisconsin submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred for allegedly engaging in unapproved private transactions and for not possessing the proper registration in violation of NASD Rule 1031 and FINRA Rules 3280 and 2010.
From August 2015 to March 2018, Jeffrey Scott Nimmow was registered as an Investment Company Products/Variable Contracts Representative with Forest Securities Inc. (FSI). According to the FINRA findings, he engaged in the sale of promissory notes of more than $3 million to 18 different investors without the proper registration. The findings stated that Nimmow submitted a request to FSI to add sales of promissory notes to his outside business activities but failed to provide notice of each proposed transaction. In addition, FINRA stated that Nimmow sold $3,365,000 in the promissory notes and received approximately $177,937 in commissions without being qualified or registered to offer or sell promissory notes to his customers. Without admitting or denying FINRA’s findings, Nimmow consented to the sanctions and has been barred from association with any FINRA member in all capacities. Continue Reading