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Investor Alleges Jason Alford Executed Unauthorized Trades

Nov 17, 2022 Unauthorized Trading

Jason Alford (CRD #: 5724133), a broker registered with Davenport & Company, allegedly executed unauthorized trades, according to his BrokerCheck record, accessed on November 12, 2022. If you have questions about his conduct as a broker, keep reading.

Investor Dispute

On September 1, 2022, an investor alleged that Jason Alford executed unauthorized trades and used margin without authorization in a managed account. Margin accounts are risky and result in unexpected losses. The client seeks $94,355 in this pending dispute.

FINRA Rule 3260

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. Discretionary accounts must also be approved by the firm before this trading can occur.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Unauthorized trading and unauthorized use of margin violate FINRA Rule 2010. 

Background Information

Jason Alford has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Jason Alford is a registered broker in 18 states and a registered investment adviser in Virginia.

He has also worked for Morgan Stanley (CRD#:149777) and MML Investors Services (CRD#:10409).

Kurta Law Can Help

If you worked with Jason Alford and you have concerns about your investments, please contact us today at 877-600-0098 or 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.