Jay Riley Subject of Investor Dispute

Jay Riley (CRD #: 1096019), a broker registered with Ameriprise Financial Services, was involved in an investor dispute, according to his BrokerCheck record, accessed on October 30, 2024. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On August 22, 2204, an investor alleged that Jay Riley negligently failed to prevent the unauthorized depletion of an account by its joint owner between April 27, 2018, and September 18, 2020. This dispute was denied by the firm.

Investors should be aware that firms can deny disputes without an external review. It’s still possible to recoup losses following a denial by seeking out FINRA arbitration.

What is Broker Negligence?

Negligence covers a variety of broker misconduct, including failure to supervise and unsuitable investment recommendations. Investors who believe their losses are the result of broker negligence may be able to recover their funds by pursuing FINRA arbitration.

Massachusetts Regulatory Action

On October 29, 2020, Jay Riley entered a consent agreement with the Commonwealth of Massachusetts. He consented to heightened supervision for a period of either two years from the entry of the consent agreement or until the satisfaction of his IRS tax lien.

Tax Lien

On March 23, 2019, Jay Riley incurred an $81,450.75 IRS tax lien.

Background Information

Jay Riley 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 3 – National Commodity Futures Examination
• Series 7 – General Securities Representative Examination

Jay Riley is a registered broker in 24 states and a registered investment adviser in California, New Hampshire, and Texas.

He has also worked for the following firms:

• Wells Fargo Clearing Services (CRD#:19616)
• Morgan Stanley Smith Barney (CRD#:149777)
• Citigroup Global Markets (CRD#:7059)
• Morgan Stanley DW (CRD#:7556)
• PaineWebber (CRD#:8174)
• Kidder, Peabody & Company (CRD#:7613)

Kurta Law Can Help

If you worked with Jay Riley 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 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.