Victim of Financial Fraud? Call Now

Jason Wolter Subject of a $5,000 FINRA Fine

Jason Wolter (CRD #: 2934037), a broker registered with Morgan Stanley, is the subject of a FINRA fine. This is according to his BrokerCheck record, accessed on May 13, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations

On March 28, 2024, Jason Wolter entered into an Acceptance, Waiver, and Consent agreement (AWC) in which he consented to the findings that he exercised discretion without written authorization from the customers and without seeking his member firm’s approval. According to the AWC, his client asked him to communicate with the customer’s son about transactions in his accounts and granted his wife and son Power of Attorney. Jason Wolter allegedly did not obtain a copy of the POA, nor did he inform his member firm of the POA.

Terms of the AWC 

As part of the terms of the AWC, Jason Wolter consented to a $5,000 fine and a 10-day suspension. You can read a copy of the AWC here.

Investor Dispute

On October 22, 2019, an investor alleged that Jason Wolter engaged in unauthorized trading regarding a municipal bond, a mutual fund, a structured product, and ETF investments. The dispute was settled for $260,000. 

Unauthorized Trading

FINRA Rule 3260 limits discretionary trading by brokers to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm. Discretionary trading that takes place in an account that has not been approved is unauthorized.

Background Information 

Jason Wolter has passed the following exams:

  • Series 66 Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination 
  • Series 31 Futures Managed Funds Examination 
  • Series 7 General Securities Representative Examination 

He is a registered broker in 12 states and is a registered investment adviser in Connecticut. 

During his 26 years of experience, Jason Wolter has registered with five firms: 

  • Morgan Stanley (CRD #: 149777) 
  • JP Morgan Securities (CRD #: 79) 
  • Deutsche Bank Securities (CRD #: 2525) 
  • UBS Services (CRD #: 8174) 
  • Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 

Kurta Law Can Help 

If you have worked with Jason Wolter and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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 that 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. Do not let securities fraud go unchecked. Start your recovery process today.

 

Loader Loading...
EAD Logo Taking too long?

Reload Reload document
| Open Open in new tab