Jeffrey Broten, formerly with First Standard Financial Company, Barred by FINRA
Have you lost money with financial advisor Jeffrey Broten? We are looking into allegations made about Jeffrey A. Broten from Red Bank, New Jersey. FINRA (the Financial Industry Regulatory Authority) barred Broten from the securities industry. FINRA alleged that Broten has failed to respond to its investigation regarding allegations that he engaged in a pattern of excessive, unsuitable, and unauthorized trading in customer accounts while he was associated with First Standard Financial Company.
Jeffrey Broten was a financial advisor and registered representative of First Standard Financial Company from February 2018 to August 2019. Broten was also with National Securities Corp from 2009 to February 2018. He worked in a branch office in Red Bank, New Jersey. Broten has also been the subject of at least five customer complaints, and he also had his licensed revoked by the New Jersey Bureau of Securities.
Brokerage firms like First Standard Financial Company have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Seattle, Washington; Denver, Colorado; Ann Arbor, Michigan; and Phoenix, Arizona. We represent investors in FINRA arbitration proceedings in all 50 states, including throughout New Jersey. Our attorneys have represented over one thousand investors against many brokerage firms in the past.