Lisa Jones Suspended by FINRA for Alleged Undisclosed OBA

Lisa Jones (CRD #: 3044272), a broker registered with PFS Investments, has been suspended by FINRA, according to her BrokerCheck record, accessed on December 12, 2024. If you have questions about her alleged conduct as a broker, keep reading.

FINRA Suspension

On November 4, 2024, Lisa Jones consented to the entry of findings that she allegedly engaged in an outside business activity between August 2021 and February 2023 without providing prior written notice to PFS Investments.

A Letter of Acceptance, Waiver & Consent (AWC) alleged that Lisa Jones disclosed to the firm in August 2021 that she had created an LLC to operate an e-commerce business. She allegedly used management-related services purchased from a company owned and operated by three other brokers from PFS Investments.

During the relevant period, Lisa Jones allegedly received at least $16,000 in referral fees from this company for referring five PFS Investments brokers to the company. However, the AWC alleged that she did not inform the firm of this activity.

Lisa Jones allegedly claimed on three annual firm compliance questionnaires that she had fully and accurately disclosed her outside business activities.

The AWC concluded that these allegations constituted violations of FINRA Rules 3270 and 2010.

FINRA Rule 3270

FINRA Rule 3270 requires brokers to seek approval from their firm before engaging in outside business activities.

FINRA Rule 2010

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

Sanctions

Lisa Jones consented to the following sanctions:

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

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

Outside Business Activities

Lisa Jones’ detailed BrokerCheck report discloses the following outside business activities:

• President of Jones Jewels and Associates
• Member of the Board of Directors for Primerica’s African American Leadership Council
• Author of several books
• Owner of Skylimits, a company providing design services

It also states that she may also receive compensation from Primerica Mortgage for sales of loan products, and from Primerica Client Services for referrals of home security and automation products and home-related services.

Tax Liens

From 2015-2021, Lisa Jones incurred a total of $338,557.27 in tax liens.

Background Information

Lisa Jones has passed the following exams:

• Investment Company Products/Variable Contracts Principal Examination – Series 26
• Securities Industry Essentials Examination – SIE
• Investment Company Products/Variable Contracts Representative Examination – Series 6
• Uniform Securities Agent State Law Examination – Series 63

Lisa Jones is a registered broker in 19 states and the District of Columbia.

Kurta Law Can Help

If you worked with Lisa Jones 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.