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Investor Seeks $2.3 Million in Damages in Dispute with Cass Jenkins

May 20, 2022 Misrepresentation

Cass Jenkins (CRD #: 4304584), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is embroiled in a pending dispute, according to his BrokerCheck record, accessed on May 15, 2022. Keep reading if you have questions about Cass Jenkins’s conduct as a broker.

Investor Dispute

On March 8, 2022, an investor alleged Cass Jenkins recommended an unsuitable investment strategy and omitted material facts related to the sale of securities between February 2020 and March 2020. The client seeks $2,300,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that match an investor's profile. These profiles contain various investor characteristics, such as their risk tolerance, financial goals, and age.

  • High-risk investments may be unsuitable because of their likelihood to lose money.
  • Illiquid securities may be unsuitable because they are intended to be held for an extended period of time, and can be difficult and costly to cash out.
  • Securities can also be quantitatively unsuitable, meaning that the broker executed an excessively high number of trades.

Suitability also applies to overall investment strategies. For example, over-concentration in a particular stock or sector can be an unsuitable investment strategy because of its high level of risk.

Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits brokers from using manipulative, deceptive, and otherwise fraudulent practices to influence investors. This includes misrepresenting or omitting information about an investment’s risks, requirements, or potential returns.

Background Information

Cass Jenkins has passed the following exams:

  • Series 66 - Uniform Combined State Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination
  • Series 10 - General Securities Sales Supervisor - General Module Examination
  • Series 9 - General Securities Sales Supervisor - Options Module Examination

Cass Jenkins is a registered broker in all 50 states, as well as the District of Columbia, Puerto Rico, and the Virgin Islands. He is also a registered investment adviser in Texas.

He previously worked for Edward Jones (CRD#:250).

Kurta Law Can Help

If you worked with Cass Jenkins and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.