Jeffrey Russell is Facing a FINRA Suspension
Jeffrey Russell (CRD #: 2516610) is the subject of a FINRA suspension. This suspension appears on his BrokerCheck record, accessed on February 14, 2024. Keep reading if you have questions regarding his alleged conduct.
FINRA Suspension
On November 16, 2023, Jeffery Russell consented to the entry of findings that he effected 657 unauthorized purchases of a mutual fund in 610 of his customers’ brokerage firm accounts. He also allegedly made six purchases of a mutual fund that was invested in mortgage-backed securities. These MBS transactions allegedly generated $2,999 in commissions.
Jeffrey Russell entered into an Acceptance, Waiver, and Consent agreement (AWC) in order to settle with FINRA. As part of the terms of the AWC, he consented to a six-month suspension, a $5,000 fine, and a disgorgement payment of $2,999 plus interest.
You can read a copy of the AWC here.
Employment Termination
On May 26, 2021, Morgan Stanley Smith Barney fired Jeffrey Russell following allegations that he affected certain transactions without obtaining client authorization. He also allegedly failed to escalate a customer complaint in a timely manner.
Background Information
Jeffrey Russell 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 7TO General Securities Representative Examination
- Series 3 National Commodity Futures Examination
- Series 7 General Securities Representative Examination
- Series 10 General Securities Sales Supervisor – General Module Examination
- Series 9 General Securities Sales Supervisor – Options Module Examination
Jeffrey Russell has registered with two firms during his 26 years of experience:
- Morgan Stanley (CRD #: 149777)
- Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
Kurta Law Can Help
If you have worked with Jeffrey Russell and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or 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.
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