Jason Orsky Allegedly Violated Ohio State Regulations

Jason Orsky (CRD #: 5652030), a broker registered with Purshe Kaplan Sterling Investments, is the subject of a pending state regulatory action, according to his BrokerCheck record, accessed on March 23, 2023. Investors may have also engaged his services through Jason M Orsky Wealth Management. Read on if you have questions about his alleged conduct as a broker.

Regulation Action by State of Ohio

On February 15, 2023, the Ohio Division of Securities alleged that Jason Orsky violated the following regulations:

• Ohio Revised Code Sections 1707.19(A)(1)(A), 1707.19(A)(1)(F), and 1707.19(A)(1)(K)
• Ohio Administrative Code Rules 1301:6-3-15.1(E)(1)(B) and (F), as well as 1301:6-3-19(D)(8) and (9)

This regulatory action is currently pending.

Ohio Revised Code

Ohio Revised Code Section 1707.19(A)(1)(A) allows the state to deny or suspend the licenses of brokers and investment advisers if they are “not of good business repute.”

Section 1707.19(A)(1)(F) extends this to brokers and investment advisers who refuse to comply with orders or requirements of the Ohio Division of Securities.

Section 1707.19(A)(1)(K) allows the Division to deny or suspend the licenses of investment advisers who fail to furnish the Ohio Division of Securities with requested information.

Ohio Administrative Code

Ohio Administrative Code Rule 1301:6-3-15.1(E)(1)(B) requires investment advisers to keep accurate and up-to-date general and auxiliary ledgers documenting liability, capital, and income and expense accounts, among other records.

Rule 1301:6-3-15.1(E)(1)(F) specifically requires investment advisers to maintain records of all trial balances, quarterly financial statements, and internal audit working papers concerning their business.

Rules 1301:6-3-19 defines how the Ohio Securities Division determines whether or not a broker or investment adviser is of “good business repute.” Paragraphs (D)(8) and (9) specifically describe the following as considerations:

• Violations of paragraph (A) or (B) of this rule, which prohibit many forms of misconduct, including unauthorized trading, unsuitable investment recommendations or transactions, and charging unreasonable fees
• Engaging in forgery, embezzlement, manipulative or deceptive practices, and other conduct reflecting poorly on the individual’s honesty, integrity, and business competence

Tax Lien

On February 8, 2021, Jason Orsky became the subject of a tax lien of $11,588.44.

Background Information

Jason Orsky has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 99TO – Operations Professional Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Jason Orsky is a registered broker in six states and a registered investment adviser in Ohio.

He has also worked for the following firms:

• Wells Fargo Advisors (CRD#:19616)
• Edward Jones (CRD#:250)
• LPL Financial (CRD#:6413)

Kurta Law Can Help

If you worked with Jason Orsky 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.