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Jonathan Turner Temporarily Suspended from FINRA

May 9, 2022 FINRA Fine

Jonathan Turner (CRD #: 4853469) has been suspended by FINRA, according to his BrokerCheck record, accessed on May 2, 2022. Read on if you want to know more about Jonathan Turner’s conduct as a broker.

Alleged Unauthorized Private Securities Transactions

An Acceptance, Waiver, and Consent (AWC) agreement filed on March 24, 2022, alleges Jonathan Turner violated FINRA Rules 3280 and 2010 by participating in private securities transactions without notifying his firm.

According to this filing, Jonathan Turner was hired as Chief Investment Officer at an unspecified firm in September 2019 while also employed by Ameriprise Financial Services, where he was employed as a broker. During this time, he allegedly recommended that two clients invest at the unspecified firm, including facilitating the liquidation of one client’s assets held by Ameriprise. Each client allegedly invested $100,000. 

The AWC alleges that Jonathan Turner failed to notify Ameriprise of these transactions and incorrectly claimed that he had not participated in private securities transactions on his annual compliance attestation.

FINRA Rules 3280 and 2010

FINRA Rule 3280 requires brokers to provide written notice to their employing firm before they participate in private securities transactions.

Violations of Rule 3280 and many other FINRA Rules may also be violations of Rule 2010, which requires brokers to maintain high standards of professional honor.

Sanctions

Following the filing of this action, Jonathan Turner faced the following sanctions:

  • $5,000 fine
  • Three-month suspension from FINRA

His suspension began on April 4, 2020, and will end on July 3, 2022. You can read the full AWC here.

Background Information

Jonathan Turner has passed the following exams:

  • Series 66 - Uniform Combined State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination

Jonathan Turner has not registered with any other firm besides Ameriprise Financial Services (CRD#:6363).

Kurta Law Can Help

If you worked with Jonathan Turner 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.