John Jacobs is Facing Allegations of Misappropriation

John Jacobs (CRD #: 1405497), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on March 13, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Dispute

On January 20, 2024, an investor alleged that John Jacobs misappropriated customer funds and engaged in unauthorized trading. 

Unauthorized Trading 

Unauthorized trading violates FINRA Rule 3260, which limits brokers to engaging in discretionary trading only in pre-authorized accounts. Both the firm and the client must approve an account before discretionary trading can occur.

High Standards of Commercial Honor 

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Misappropriation also violates this rule. 

Background Information 

John Jacobs 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 31 Futures Managed Funds 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 
• Series 24 General Securities Representative Examination 
• Series 8 General Securities Sales Supervisor – (Options Module & General Module) 

He is a registered broker in 50 states, D.C., Puerto Rico, and the Virgin Islands. He is also a registered investment adviser in New Mexico and Texas.

Kurta Law Can Help 

If you have worked with John Jacobs 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.