Jeffrey Michael Frankos (CRD #4006785) Has a Customer Dispute Disclosure on FINRA BrokerCheck

Jeffrey Michael Frankos (CRD #4006785) is a broker with a customer dispute on FINRA BrokerCheck. We reviewed his BrokerCheck report on April 23, 2026. It reflects one pending customer dispute. If you invested with Jeffrey Frankos and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Jeffrey Frankos’ FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On February 25, 2026, a customer alleged Jeffrey Frankos made unsuitable investment recommendations and exercised discretion in investment accounts. Jeffrey Frankos’ FINRA BrokerCheck Report identifies J.P. Morgan Securities LLC as the employing firm when the activity occurred and states the activity dates were April 2021 through March 2023. BrokerCheck lists options and a managed account as the products involved. It shows alleged damages of $10,953,568.00 and marks the matter as a pending FINRA arbitration under docket number 26-00380.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a broker to have a reasonable basis to believe a recommendation is suitable for the customer. The rule focuses on the customer’s investment profile, including factors such as risk tolerance, liquidity needs, and investment objectives.

Rule Summary #2: FINRA Rule 3260 (Discretionary Accounts)

FINRA Rule 3260 limits discretionary trading in customer accounts. It requires prior written authorization before a registered representative exercises discretion, and it also requires firms to review discretionary activity.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Jeffrey Frankos:

Is currently registered with Raymond James & Associates, Inc.

Has passed the Securities Industry Essentials (SIE) exam. Jeffrey Frankos has also passed Series 7, Series 57TO, Series 65, Series 63, Series 9, and Series 10.

Was previously registered with firms that include J.P. Morgan Securities LLC, Thomas Weisel Partners LLC, and Citigroup Global Markets Inc.

Kurta Law Can Help

If you have worked with Jeffrey Frankos and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful Resources: Unsuitable Investments | Securities Attorney

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.