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Forrest Jones Barred by FINRA for Allegedly Failing to Respond to Requests for Information

Forrest Jones (CRD #: 4880765), a broker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, was recently barred for allegedly failing to respond to FINRA requests for information, according to his BrokerCheck Record accessed on March 2, 2022.


FINRA Rule 9552 applies in situations where a brokerage firm or representative has failed to provide information or keep information current. FINRA Rule 9552 is a Notice of Suspension if corrective action is not taken. Since Forrest Jones failed to request termination of his suspension within three months of the date of the Notice of Suspension, he was automatically barred on February 28, 2022.

Employment Termination Details

On October 13, 2020, Merrill Lynch, Pierce, Fenner & Smith Incorporated fired Forrest Jones following a regulatory investigation and an alleged failure to disclose an outside business activity.

FINRA Rule 3270 requires that brokers provide written notice to their firms regarding their outside business activities. A violation of FINRA Rule 3270 also constitutes a violation of FINRA Rule 2010, which requires registered representatives to observe high standards of commercial honor and just and equitable principles of trade. 

Forrest Jones has no business listed in the Outside Business Activity of his detailed BrokerCheck report.

Civil Disclosure

According to the SEC allegations filed on May 13, 2021, Chris Lopez raised at least approximately $3.7 million in a scheme to invest funds from advisory clients and retail investors in at least five fraudulent securities offerings. Chris Lopez allegedly made false statements and omitted material facts. He also allegedly misappropriated funds and created false financial documents to inflate investor assets. 

FINRA Investigation

On June 24, 2020, Forrest Jones was the subject of an SEC investigation following allegations of misrepresentations and omissions in connection with the offer or sale of promissory notes and other private placements.

FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. This unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor. 

Customer Dispute

On May 26, 2020, Forrest Jones was involved in a customer dispute alleging unsuitable investments, misrepresentation, and fraud. The damages granted totaled $200,000. 

You can access the full arbitration details here.

Background Information

Forrest Jones 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

Besides Merrill Lynch, Pierce, Fenner & Smith Incorporated, Forrest Jones has also worked with the following firms:

  • Fortune Financial Services (CRD#:42150)
  • Mcnally Financial Services Corporation (CRD#:121196)
  • METLIFE Securities (CRD#:14251)
  • Next Financial Group (CRD#:46214)
  • First Command Financial Planning (CRD#:3641)
  • NYLIFE Securities (CRD#:5167)
  • Summit Brokerage Services (CRD#:34643)
  • Edward Jones (CRD#:250)

Kurta Law Can Help 

If you have been victimized by Forrest Jones as a broker, don’t hesitate to get in touch with us today at 877-600-0098 or for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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.