Jeffrey Pickett Ordered to Cease and Desist by State of Ohio

Jeffrey Pickett (CRD #: 1464524), a broker formerly registered with Prudential Securities, was the subject of a recent state regulatory action, according to his BrokerCheck record, accessed on May 24, 2023. If you have questions about his alleged conduct as a broker, keep reading.

Ohio Regulatory Action

On February 28, 2023, the Ohio Division of Securities alleged that Jeffrey Pickett violated Ohio Revised Code Sections 1707.44(A)(1) and (C)(1) by selling unregistered securities in the form of structured cash flows issued by Future Income Payments, LLC, as an unlicensed broker.

The Division further alleged that he engaged in practices defined as illegal, fraudulent, or prohibited under Ohio Revised Code Section 1707.44(G).

The Division ordered Jeffrey Pickett to cease and desist from violations of these sections of the Ohio Revised Code.

The Ohio Revised Code

Ohio Revised Code Section 1707.44(A)(1) prohibits brokers from selling securities in the state without a license.

Section 1707.44(C)(1) prohibits brokers from knowingly selling unregistered securities or securities not exempt from registration.

Section 1707.44(G) forbids anyone involved in purchasing or selling securities from knowingly engaging in practices defined by this section as illegal, fraudulent, or prohibited.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Jeffrey Pickett has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

He previously worked for the following firms:

• Prudential Securities (CRD#:7471)
• Kemper Securities Group (CRD#:19616)
• Carillon Investments (CRD#:14646)
• Prescott, Ball & Turben (CRD#:7656)
• WRP Investments (CRD#:7365)

Kurta Law Can Help

If you worked with Jeffrey Pickett 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.