Did you lose money investing with Jollene Austin (a/k/a Jollene Flemmer) (CRD# 2997663)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Jollene Austin (a/k/a Jollene Flemmer). If you suffered losses investing with Jollene Austin (a/k/a Jollene Flemmer), then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
As of September 16, 2020, Jollene Austin (a/k/a Jollene Flemmer)’s FINRA BrokerCheck Report contains the following:
Disclosure Events
1 Customer Dispute(s)
1 Regulatory Event(s)
See FINRA Letter of Acceptance, Waiver and Consent No. 2018056845801
1 Employment Separation After Allegations
3 Financial Disclosure(s)
UPDATE 9/16/2020: According to FINRA’s October 2019 Disciplinary Actions: “Jollene Jill Austin (CRD #2997663, Westport, Connecticut) August 8, 2019 – An AWC was issued in which Austin was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for six months. Without admitting or denying the findings, Austin consented to the sanctions and to the entry of findings that she borrowed a total of $665,000 from a customer of her member firm without obtaining prior written approval to engage in the transactions from the firm. The findings stated that Austin entered into a seller-financed mortgage agreement with the customer through which she purchased the customer’s house for $635,000 and was to repay the loan in installments. Austin borrowed another $30,000 from the same customer. The findings also stated that Austin transferred the deed and title back to the customer in full satisfaction of the two loans. The suspension is in effect from August 19, 2019, through February 18, 2020. (FINRA Case #2018056845801)
Current and Previous Registrations
07/31/2017 – 05/29/2018 WYNSTON HILL CAPITAL, LLC (CRD#:103811) BRONX, NY
10/29/2016 – 08/29/2017 REVERE SECURITIES LLC (CRD#:14178) NEW YORK, NY
05/26/2017 – 05/31/2017 SW FINANCIAL (CRD#:145012) MELVILLE, NY
03/25/2016 – 11/01/2016 ROTHSCHILD LIEBERMAN LLC (CRD#:10030) New York, NY
02/02/2015 – 04/05/2016 NEWPORT COAST SECURITIES, INC. (CRD#:16944) NEW YORK, NY
FINRA expelled the firm on 06/25/2018
06/27/2013 – 01/15/2015 SECURITIES AMERICA, INC. (CRD#:10205) MILLS RIVER, NC
06/18/2013 – 06/25/2013 COMMONWEALTH FINANCIAL NETWORK (CRD#:8032) MILLS RIVER, NC
07/05/2011 – 06/24/2013 LPL FINANCIAL LLC (CRD#:6413) MILLS RIVER, NC
01/02/2003 – 07/08/2011 EDWARD JONES (CRD#:250) MILLS RIVER, NC
08/20/2002 – 12/20/2002 UBS PAINEWEBBER INC. (CRD#:8174) WEEHAWKEN, NJ
04/17/2002 – 08/16/2002 SALOMON SMITH BARNEY INC. (CRD#:7059) NEW YORK, NY
09/18/1998 – 02/08/2002 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD#:7691) NEW YORK, NY
08/20/1998 – 10/13/1998 AMERICAN EXPRESS FINANCIAL ADVISORS INC. (CRD#:6363) MINNEAPOLIS, MN
08/20/1998 – 10/13/1998 IDS LIFE INSURANCE COMPANY (CRD#:6321) MINNEAPOLIS, MN
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Due Diligence Requirement
FINRA requires broker’s to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. FINRA Rule 2111(a) states that “a member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile. A customer’s investment profile includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance, and any other information the customer may disclose to the member or associated person in connection with such recommendation.”
Rule 2111 is composed of three main obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability. Brokers and the brokerage firms they work for that fail to conduct adequate due diligence on investments they recommend or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
Request a Free Consultation with a Securities Attorney
If you suffered losses investing with Jollene Austin (a/k/a Jollene Flemmer) and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.
