Securities Arbitration Lawyers Blog
FINRA Bars Jon Pariser After Allegations Of Customer Referrals To Unregistered Individual
Our attorneys currently represent customers of Jon Pariser against Independent Financial Group for losses related to First Nationle Solution. Jon Richard Pariser (CRD #2755015) is a former registered broker whose last employer was Independent Financial Group, LLC (CRD #7717) of Pacific Grove, CA. His previous employers include SWS Financial Services, INC. (CRD #17587) and LPL Financial LLC (CRD #6413), also of Pacific Grove, CA. No current employment information is available. He has been in the industry since 1996.
Pariser is barred in all capacities after he failed to provide requested information to FINRA for an investigation. The documentation relates to allegations that he referred some of his customers to an individual who was not a registered FINRA broker. This unregistered individual and may have recommended to or actually sold these customers “potentially unsuitable” securities. Pariser violated FINRA Rules 8210 and 2010 by refusing to provide this requested documentation, which led to him being barred. He signed an Acceptance, Waiver & Consent (AWC) letter consenting to the sanctions, and he is barred effective 10/04/2018.
His next disclosure is an employment separation from SWS Financial Services on 6/20/2014, which is connected by a closed customer dispute filed four days earlier, involving “unauthorized discretion.” The allegations state that “during the course of normal e-mail correspondence review, firm supervisors discovered an e-mail message from the customer containing language indicating that the representative may have engaged in unauthorized discretionary trading.”
Abramowitz has three disclosures in his record, all customer disputes. The most recent, on 7/30/2018, alleges “breach of contract, negligence, unsuitability, breach of fiduciary duty.” The client is requesting damages of $100,000. No additional information is available.
OptionSellers.Com, operated by James Cordier and Michael Gross, promoted themselves as expert options traders able to manage money for retail investors promising they can produce consistent returns with limited risk. From offices in Tampa, Florida, Cordier and Gross touted their book “The Complete Guide to Options Selling” claiming to know “how selling options can lead to stellar returns in bull and bear markets.”
Silver Law Group and The Law Firm of David R. Chase have filed their second FINRA arbitration claim against Independent Financial Group alleging its broker recommended the services of an individual who was running a Ponzi scheme.
Bracy is the subject of one disclosure, filed on 7/31/2018. In it, the client claims that when she invested in Future Income Payments, LLC in December of 2017, Bracy misrepresented this as a safe, conservative investment with a 7.5% annual return for ten (10) years. The client is requesting damages of $142,697.27. Bracy denies the allegations.