FINRA Revokes Jeffrey Delone’s Registration
Jeffrey Delone (CRD #: 1790207), a broker formerly registered with Chelsea Financial Services, has had his registration revoked by FINRA, according to his BrokerCheck record, accessed on December 14, 2022. If you want to learn more about his alleged conduct as a broker, read on.
Registration Revocation
On September 8, 2022, FINRA revoked Jeffrey DeLone’s registration for allegedly failing to pay fines/costs of $2,656.25 associated with a 2017 FINRA arbitration.
FINRA Suspension
On August 10, 2017, Jeffrey Delone consented to the entry of findings that he allegedly participated in private securities transactions without seeking or obtaining prior approval from his firm, FSC Securities Corporation.
A Letter of Acceptance, Waiver & Consent (AWC) alleged that Jeffrey Delone was part owner of a learning center franchise during the relevant period, June 2010 through September 2013. During this time, he allegedly recommended and facilitated investments in the franchise by six investors, three of whom were clients of FSC Securities. These clients allegedly invested a total of $310,000.
According to the AWC, Jeffrey Delone’s alleged failure to inform FSC Securities of his participation in these transactions or seek the firm’s approval violated NASD Rule 3040 and FINRA Rule 2010.
FINRA Rule 3280
FINRA Rule 3280 requires brokers to provide written notice to their firm before engaging in private securities transactions.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
Sanctions
Jeffrey Delone consented to the following sanctions:
- $10,000 fine
- 6-month suspension
His suspension ran from August 21, 2017, to February 20, 2018.
You can read the full AWC here.
Background Information
Jeffrey Delone has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- Series 6TO – Investment Company Products/Variable Contracts Representative Examination
- SIE – Securities Industry Essentials Examination
- Series 62 – Corporate Securities Limited Representative Examination
- Series 22 – Direct Participation Programs Representative Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
He previously worked for the following firms:
- Chelsea Financial Services (CRD#:47770)
- FSC Securities (CRD#:7461)
- Park Avenue Securities (CRD#:46173)
- Mony Securities Corporation (CRD#:4386)
- Cigna Securities (CRD#:145)
Kurta Law Can Help
If you worked with Jeffrey Delone 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.
Loading...
Reload document 
Open in new tab