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Jacqueline Jacobsen Subject of a 6-Month Washington State Suspension

Feb 15, 2022 Regulatory Action

Jacqueline Jacobsen (CRD #:2504257), a broker and investment advisor registered with Independent Financial Group, has been suspended by the state of Washington, according to her BrokerCheck Record accessed on February 2, 2022.  

State of Washington Allegations

According to the allegations filed on October 12, 2021, Jacqueline Jacobsen violated the Securities Act Of Washington Chapter 21.20.020 RCW (Unlawful acts of a person advising another).

Jacqueline Jacobsen consented to a six-month suspension from soliciting and accepting new clients who are residents of the State of Washington. 

State of Maryland Suspension

On May 5, 2020, Jacqueline Jacobsen was the subject of a 27-day suspension from the State of Maryland after consenting to a FINRA AWC.

FINRA Letter of Acceptance, Waiver, and Consent Agreement

According to an Acceptance, Waiver, and Consent agreement dated April 1, 2020, Jacqueline Jacobsen consented to the findings that she allegedly misused member firm funds by using funds from her AFG (Alternative Flexible Grid program) account at her Morgan Stanley in a manner inconsistent with Morgan Stanley's permitted use of the funds.

Through the AFG program, Morgan Stanley allows registered representatives to elect to reduce their compensation by a certain amount so that those funds are allocated to the registered representatives' AFG accounts. 

According to the FINRA findings, Jacqueline Jacobsen acknowledged to the firm in writing that she would use the funds only for those specified business-related expenses. She also acknowledged that any unused funds set aside in her account would be forfeited to the firm if they were not disbursed in accordance with firm policy. 

Jacqueline Jacobsen requested that the firm disburse $3,221.91, the amount remaining in her account, as a year-end bonus to a client service associate at the firm. However, without notice to or permission from the firm, she asked the client service associate to give approximately $1,200 of the account bonus funds to her. Jacqueline Jacobsen reportedly did not use these funds for any approved business-related purpose.

FINRA Rule 2010 requires associated persons to observe high standards of commercial honor and just and equitable principles of trade. By misusing her firm's funds in a manner not permitted by the firm, Jacqueline Jacobsen failed to observe high standards of commercial honor and just and equitable principles of trade, thus violating FINRA Rule 2010.

Sanctions

As part of the AWC, Jacqueline Jacobsen consented to the following sanctions.

  1. A six-month suspension from associating with any FINRA member in all capacities.
  2. A $5,000 fine

You can read the full copy of the AWC here.

Employment Termination Details

On August 23, 2018, Morgan Stanley fired Jacqueline Jacobsen after allegedly misusing firm funds by using funds from her AFG (Alternative Flexible Grid program) account in a manner inconsistent with Morgan Stanley's permitted use of the funds.

Background Information

Jacqueline Jacobsen has passed the following exams:

  • Series 65 - Uniform Investment Adviser Law Examination
  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 31 - Futures Managed Funds Examination
  • Series 7 - General Securities Representative Examination
  • Series 24 - General Securities Principal Examination

Jacqueline Jacobsen is a registered broker in 13 states. She is also a registered investment advisor in Texas and North Carolina.

She has also worked with the following firms:

  • UBS Financial Services (CRD#:8174)
  • Lincoln Financial Advisors Corporation (CRD#:3978)
  • The Lincoln National Life Insurance Company (CRD#:2580)
  • NYLIFE Securities (CRD#:5167)

Kurta Law Can Help 

If you have been victimized by Jacqueline Jacobsen as a broker, don't hesitate to get in touch with us today at 877-600-0098 or info@kurtalawfirm.com 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. Please contact us for any questions about how to proceed.