Investor Alleges Rule Violation by Shmuel Maya Led to Loss

Shmuel Maya (CRD #: 6043845), a broker registered with J.P. Securities, was the subject of a recent dispute, according to his BrokerCheck record, accessed on August 27, 2022. Keep reading if you want to know more about Shmuel Maya’s conduct as a broker.

Investor Dispute

On July 8, 2022, an investor alleged that Shmuel Maya engaged her in a securities transaction outside of his relationship with his firm, J.P. Morgan Securities, resulting in a loss for the client. The investor alleged this activity took place between July 9, 2020, and January 21, 2021. The client sought $75,000 but was denied by the firm.

However, investors should know that firms don’t need to allow an external review before denying disputes. Investors can still seek out FINRA arbitration after a denial and may be able to recover their losses.

FINRA Rule 3270

FINRA Rule 3270 requires brokers to seek and receive firm approval before participating in securities transactions outside of the firm. 

FINRA Rule 2010

Violations of this and other FINRA Rules frequently qualify as automatic violations of FINRA Rule 2010, which requires brokers to uphold high standards of commercial honor and just and equitable principles of trade.

Background Information

Shmuel Maya has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Shmuel Maya is a registered broker in 17 states and Puerto Rico. He is also a registered investment adviser in California, Florida, and Texas.

He previously worked for Chase Investment Services (CRD#:25574).

Kurta Law Can Help

If you worked with Shmuel Maya 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.