FINRA suspends Jonathan Russell Belden (CRD #5955909, Walnut Creek, California)
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As reported in InvestmentNews, three Raymond James entities have agreed to pay over $15 million to resolve an investigation by the SEC. The settlement and SEC order focused on Raymond James’s actions in improperly charging certain clients advisory fees when the...read more
April 12, 2018 – An AWC was issued in which Belden was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for 60 days. Without admitting or denying the findings, Belden consented to the sanctions and to the entry of findings that he effected securities transactions in customers’ accounts, pursuant to their verbal discretionary authority. However, he did not obtain written discretionary authority from the customers or his member firm’s acceptance of the accounts as discretionary. The findings stated that Belden mismarked order tickets for trades as unsolicited when, in fact, he solicited the trades. Belden thus caused his firm to maintain inaccurate books and records. Belden engaged in this conduct to facilitate transactions in a security on the firm’s restricted list. Because the firm’s electronic order system did not allow solicited orders in securities on the restricted list to be processed absent further firm review, Belden mismarked the orders as unsolicited.
If you or someone you know has lost money investing with Jonathan Russell Belden, call the experienced FINRA arbitration attorneys at Epperson & Greenidge at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-445-9261 now to speak to an attorney for free.