Jessica Jung Suspended by FINRA Over Alleged Ticket Mismarking

Jessica Jung (CRD #: 4922155), a broker registered with Aegis Capital Corporation, has been suspended by FINRA, according to her BrokerCheck record, accessed on December 11, 2024. Read on if you want to know more about her alleged conduct as a broker.

FINRA Suspension

On November 7, 2024, Jessica Jung consented to the entry of findings that she allegedly mismarked 39 order tickets in January and February 2021.

According to a Letter of Acceptance, Waiver & Consent (AWC), Jessica Jung allegedly incorrectly marked 39 order tickets for 21 separate customer accounts in LPL Financial’s electronic order entry system.

These tickets allegedly related to the purchase and/or sale of a certain speculative security, transactions which the AWC alleges would not have been permitted if the tickets had been marked correctly. The AWC also alleged that Jessica Jung caused LPL Financial to maintain inaccurate books and records.

The AWC concluded that these allegations constitute violations of FINRA Rules 4511 and 2010.

FINRA Rule 4511

FINRA Rule 4511 requires that firms maintain accurate books and records.

FINRA Rule 2010

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

Sanctions

Jessica Jung consented to the following sanctions:

• 1-month suspension from associating with FINRA members
• $5,000 fine

Her suspension began on December 2, 2024, and will end on January 1, 2025. You can access the full AWC here.

Investor Dispute

On May 5, 2021, an investor alleged that Jessica Jung made misrepresentations and unsuitable recommendations of various alternative investments between 2011 and 2013. The client alleged that the investments were unsuitable given their risk tolerance. They seek $147,000 in damages in this pending dispute.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence the purchase and sale of securities. Misrepresenting an investment’s potential returns, risks, fees, or other features violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must consider the information in the investor’s profile, such as their tax status, age, investing experience, and risk tolerance.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

Termination from LPL Financial

On March 22, 2021, Jessica Jung was fired from LPL Financial following allegations that, though she had written discretionary authority to execute transactions in certain securities in client accounts, she executed transactions in securities not covered by this discretionary authority.

FINRA Rule 3260

FINRA Rule 3260 limits brokers trading discretion to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm.

Background Information

Jessica Jung has passed the following exams:

• Investment Banking Registered Representative Examination – Series 79TO
• Securities Industry Essentials Examination – SIE
• Futures Managed Funds Examination – Series 31
• General Securities Representative Examination – Series 7
• Uniform Combined State Law Examination – Series 66

Jessica Jung is a registered broker in sixteen states and a registered investment adviser in fourteen states.

She has also worked for the following firms:

• LPL Financial (CRD#:6413)
• Morgan Keegan & Company (CRD#:4161)
• AmSouth Investment Management Company (CRD#:111757)
• AmSouth Investment Services (CRD#:15692)
• Morgan Stanley (CRD#:7556)

Kurta Law Can Help

If you worked with Jessica Jung 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.