Jon Thomas Nelson (CRD #346156) Has Regulatory, Customer Dispute, Criminal, and Employment Separation Disclosures on FINRA BrokerCheck

Jon Thomas Nelson (CRD #346156) was previously registered as a broker and has disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on March 24, 2026. It reflects one regulatory event, one customer dispute, one criminal matter, and one employment separation after allegations. If you invested with Jon Thomas Nelson and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Disclosures

Jon Nelson’s FINRA BrokerCheck report reflects one regulatory disclosure. A summary of that matter is below:

On October 21, 1980, the NASD initiated a regulatory action against Jon Nelson. Jon Nelson’s FINRA BrokerCheck report states that the case involved securities carried in customers’ joint margin account even though the securities were not the customers’ property. The report says the securities belonged to a third party whose identity was known to Nelson. The matter resolved by consent on May 27, 1981. BrokerCheck says Nelson was censured and fined $1,000.

Employment Separation After Allegations

Jon Nelson’s FINRA BrokerCheck report reflects one employment separation disclosure. A summary is below:

Stifel, Nicolaus & Company, Incorporated reported that it discharged Jon Nelson on January 8, 2026. Jon Nelson’s FINRA BrokerCheck report states that the firm cited a loss of confidence after inaccurate information was submitted in expense reports for reimbursement.

Investor Disputes / Customer Complaints

Jon Nelson’s FINRA BrokerCheck report reflects one customer dispute disclosure. A summary of the dispute is below:

On November 10, 2009, a customer alleged fraud, negligence, misrepresentation, breach of contract, and breach of fiduciary duty. Jon Nelson’s FINRA BrokerCheck report states that the customer also alleged unsuitable investment recommendations between 2007 and 2009 and sought $190,000 in damages. BrokerCheck lists the products as direct investment-DPP & LP interests and miscellaneous products. The matter settled for $43,000 on January 30, 2012. Nelson’s statement says the firm settled without admitting liability to avoid the expense and uncertainty of arbitration.

Criminal Charges

Jon Nelson’s FINRA BrokerCheck report reflects one criminal disclosure. A summary is below:

BrokerCheck states that in February 1961, Jon Nelson and two classmates were charged with petty larceny stemming from the theft of a six-pack of beer. The disclosure says all were charged, but only one was fined.

Rule Summary #1: FINRA Rule 2150 (Improper Use of Customers’ Securities or Funds)

FINRA Rule 2150 prohibits the improper use of a customer’s securities or funds. A disclosure about hypothecating securities can raise questions about whether customer assets were handled properly.

Rule Summary #2: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)

FINRA Rule 2010 requires brokers and firms to observe high standards of commercial honor and just and equitable principles of trade. A regulatory action involving customer assets can raise concerns about whether that standard was met.

Why This Matters to Investors (Regulation Best Interest (Reg BI))

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Jon Nelson:

Is not currently registered as a broker.

Has passed three principal/supervisory exams, four general industry/product exams, and two state securities law exams.

Was previously registered with firms that include Stifel, Nicolaus & Company, Incorporated, Ameriprise Financial Services, LLC, Wells Fargo Advisors, LLC, and A. G. Edwards & Sons, Inc.

Kurta Law Can Help

If you have worked with Jon Nelson and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | What Is Securities Fraud?

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.