Did you lose money investing with Marc Jaffe (CRD# 2187547)?
Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Marc Jaffe. If you suffered losses investing with Marc Jaffe, 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 June 26, 2020, Marc Jaffe’s FINRA BrokerCheck Report contains the following:
Disclosure Events
34 Customer Dispute(s)
3 Regulatory Event(s)
3 Employment Separation After Allegations
1 Criminal Disclosure(s)
UPDATE 6/26/2020: According to FINRA’s June 2020 Disciplinary Actions: Integrity Brokerage Services, Inc. (CRD #117589, Oceanside, California), Joshua Nathan Helmle (CRD #2195760, Oceanside, California), Marc Nathan Jaffe (CRD #2187547, Carmel, Indiana) and Andrea Wood (CRD #2000589, Avon, Indiana) April 22, 2020 – The firm, Helmle, Jaffe and Wood were named respondents in a FINRA complaint alleging that Jaffe associated with the firm and engaged in its securities business despite being statutorily disqualified. The complaint alleges that during this time, the NAC rejected the firm’s MC-400 application to register Jaffe despite his disqualification, in part because of his improper association with the firm. Undeterred, Jaffe continued to improperly associate with the firm with the assistance of its owner and chief executive officer, Joshua Helmle, and firm registered representative Andrea Wood. The complaint also alleges that while not registered with FINRA in any capacity, Jaffe engaged in the firm’s investment banking or securities business. Jaffe performed functions of a General Securities Representative by, among other things, communicating with members of the public to determine their interest in making investments, communicating with customers in an effort to maintain their accounts at the firm, discussing the nature or details of particular securities or investment vehicles, recommending the purchase or sale of securities through Wood, and receiving compensation for, and in connection with, securities transactions of firm customers. The complaint further alleges that the firm and Helmle each permitted and enabled Jaffe to associate with the firm and engage in its securities business despite his disqualified status and without being appropriately registered. In addition, the complaint alleges that Wood took affirmative steps to permit and enable Jaffe’s continued association with the firm that disguised the actual nature of Jaffe’s continued association, including by entering into and amending an analyst agreement and office sharing agreement, and by paying Jaffe directly and indirectly in connection with the firm’s securities business through those agreements. Wood permitted and enabled Jaffe to improperly associate with the firm and engage in its securities business despite his disqualified status and without being appropriately registered. (FINRA Case #2018056436001)
Current and Previous Registrations
04/13/2010 – 09/18/2015 FINANCE 500, INC. (CRD#:12981) INDIANAPOLIS, IN
10/29/2004 – 03/30/2010 GUNNALLEN FINANCIAL, INC (CRD#:17609) INDIANAPOLIS, IN
03/20/2001 – 10/28/2004 MORGAN STANLEY DW INC. (CRD#:7556) PURCHASE, NY
12/17/1991 – 04/10/2001 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD#:7691) NEW YORK, NY
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 Marc Jaffe 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.
