Thomas Jandt Involved in Dispute Alleging Reg BI Violation

Thomas Jandt (CRD #: 2332028), a broker registered with WestPark Capital, is involved in a pending dispute, according to his BrokerCheck record, accessed on June 15, 2023. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On May 4, 2023, an investor named Thomas Jandt in allegations of failure to supervise, breach of contract, negligence, negligent misrepresentation, and violation of Regulation Best Interest.

The client identified four periods of alleged misconduct: 2015, February 2017, February 2018, and January 2019. They seek $50,000 in damages in this pending dispute

In a dispute filed on May 15, 2019, an investor alleged that Thomas Jandt engaged in churning, misrepresentation, and violation of the suitability rule. The client sought $1,027,983 and received a settlement of $825,000.

FINRA Rule 3110

Failure to supervise violates FINRA Rule 3110, which requires that firms establish systems of supervision to ensure their compliance with securities regulations. Firms must appoint supervisors and provide them with Written Supervisory Procedures (WSPs) to follow.

FINRA Rule 2010

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

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, or otherwise fraudulent tactics to influence the purchase and sale of securities. This includes the misrepresentation or omission of information, such as an investment’s potential returns, fees, or risks.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile, which describes their risk tolerance, age, and other characteristics.

Excessive trading (also called churning) violates the need for quantitative suitability and generates trading fees and commissions that cut into clients’ returns.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

What is broker negligence?

Brokers may act in many negligent ways, including misrepresenting or omitting facts and recommending unsuitable investments.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by pursuing FINRA arbitration. 

Tax Lien

On June 26, 2019, Thomas Jandt incurred a $114,309.97 tax lien.

Background Information

Thomas Jandt has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• Series 79TO – Investment Banking Registered Representative Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

Thomas Jandt is a registered broker in 32 states and a registered investment adviser in ten states.

He has also worked for the following firms:

• Newport Coast Asset Management (CRD#:16944)
• Newport Coast Securities (CRD#:16944)
• Newport Coast Asset Management (CRD#:170311)
• AIS Financial (CRD#:41462)
• Integrity Brokerage Services (CRD#:117589)
• Finance 500 (CRD#:12981)     
• Tradeway Securities Group (CRD#:29794)
• Thomas James Associates (CRD#:15609)
• Chatfield Dean & Company (CRD#:14714)

Kurta Law Can Help

If you worked with Thomas Jandt 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.