Investors Allege Jeffrey Noard Violated Wisconsin Uniform Securities Law
Jeffrey Noard (CRD #: 1983392), a broker registered with Emerson Equity, allegedly violated state law and FINRA Rules, according to his BrokerCheck record, accessed on March 29, 2023. Read on if you want to learn more about his conduct as a broker.
Pending Investor Dispute
On March 2, 2023, multiple investors filed a dispute naming Jeffrey Noard in allegations of the following:
- Violations of the Wisconsin Uniform Securities Law
- Failure to conduct sufficient due diligence and to act in clients’ best interest
- Misrepresentation and omission of material facts
- Breach of contract
- Violations of FINRA Rules 3110, 2090, 2020, and 2010
The clients seek $100,000 in this pending dispute.
Regulation Best Interest
Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.
FINRA Rule 3110
FINRA Rule 3110 requires that firms establish supervisory systems to ensure their compliance with securities regulations. Firms must appoint supervisors and provide them with Written Supervisory Procedures (WSPs) to follow.
FINRA Rule 2090
FINRA Rule 2090 requires firms to retain certain facts about every client relating to their accounts and individuals authorized to act on a client’s behalf.
FINRA Rule 2020
FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. The misrepresentation or omission of material facts violates this rule.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
What are blue sky laws?
Blue sky laws like the Wisconsin Uniform Securities Law are state-level regulations that provide an additional layer of protection against securities fraud. They frequently also define what investments qualify as securities in the state.
On July 13, 2022, multiple investors named Jeffrey Noard in a dispute alleging that Cabot Lodge and its employees recommended and sold the clients more than $1.1 million in unsuitable investments that were illiquid, high-commission, and high-risk. The investors sought $100,000 and received a settlement of $200,000.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must take into account the information contained in the investor’s profile, such as their risk tolerance, tax status, and other investments.
Investors who rely on their broker for recommendations may be able to recoup their losses by seeking out FINRA arbitration.
Jeffrey Noard has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 – Futures Managed Funds Examination
- Series 7 – General Securities Representative Examination
Jeffrey Noard is a registered broker in 11 states and a registered investment adviser in Wisconsin.
He has also worked for the following firms:
- Cabot Lodge Securities (CRD#:159712)
- CL Wealth Management (CRD#:134922)
- Allied Beacon Partners (CRD#:46227)
- American Beacon Wealth Management (CRD#:152752)
- American Beacon Partners (CRD#:15791)
- Wells Fargo Advisors (CRD#:19616)
- Morgan Stanley & Company (CRD#:8209)
- Morgan Stanley DW (CRD#:7556)
- Stifel, Nicolaus & Company (CRD#:793)
- Dain Rauscher (CRD#:31194)
- Dain Rauscher (CRD#:7600)
- Everen Securities (CRD#:19616)
- Blunt Ellis & Loewi (CRD#:7580)
Kurta Law Can Help
If you worked with Jeffrey Noard and you have concerns about your investments, please contact us today at 877-600-0098 or email@example.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.