Jordan Allen Suspended by FINRA for Alleged Private Securities Transactions

Jordan Allen (CRD #: 6672861), formerly registered with Fidelity Brokerage Services, has been suspended by FINRA. This disclosure appears in his BrokerCheck record, accessed on December 17, 2024. Keep reading for details concerning his alleged conduct as a broker.

FINRA Suspension

On November 8, 2024, Jordan Allen consented to the entry of findings that he allegedly participated in private securities transactions between February and June 2023 by placing trades in a client’s account held at another member firm.

According to a Letter of Acceptance, Waiver & Consent (AWC), Jordan Allen allegedly had a personal relationship with Customer A, who was also a client of his firm, Fidelity Brokerage Services. Customer A allegedly provided Jordan Allen with his log-in credentials to execute transactions in an outside brokerage account held at another firm.

Jordan Allen allegedly executed a total of 1,507 trades, including options transactions, totaling $726,585 in gross value. The AWC alleged Jordan Allen did not receive compensation for these transactions.

However, Jordan Allen allegedly did not provide prior written notice to Fidelity Brokerage Services before participating in these transactions. The AWC alleged that he also misled the firm at first and stated that he had only conducted paper trades in Customer A’s account.

The AWC concluded that these allegations constitute violations of FINRA Rules 3280 and 2010.

FINRA Rule 3280 

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

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 3280 are automatic violations of FINRA Rule 2010. 

Sanctions

Jordan Allen consented to the following sanctions:

• 8-month suspension from associating with FINRA members
• $10,000 fine

His suspension began on November 18, 2024, and will end on July 17, 2025.

You can access the full AWC here.

Resignation from Fidelity Brokerage Service

On July 6, 2023, Jordan Allen voluntarily resigned from Fidelity Brokerage Services following allegations that he executed trades in an account outside the firm. 

Background Information 

Jordan Allen has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination
• Series 57TO Securities Trader Exam 
• SIE – Securities Industry Essentials Examination 
• Series 7TO General Securities Representative Examination 

Jordan Allen has registered with Fidelity Brokerage Services (CRD #: 7784) and Credit Suisse Securities (USA) (CRD #: 816). 

Kurta Law Can Help

If you worked with Jordan Allen 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. The firm only earns a fee if our securities attorneys recover money on your behalf.