UPDATE! Jeffrey Nimmow of Forest Securities BARRED – Merrimac, WI
Jeffrey Nimmow, formerly with Forest Securities, Barred by FINRA for Selling Woodbridge
Have you lost money with financial advisor Jeffrey Nimmow of Merrimac, Wisconsin? You may be able to recover your losses. The Law Firm of Israels & Neuman is continuing to look into allegations made against Jeffrey Nimmow. FINRA (the Financial Industry Regulatory Authority) barred Nimmow from the securities industry after he was alleged to have sold investments in the Woodbridge Group of Companies (Woodbridge).
In 2019, the Wisconsin Department of Financial Institutions made allegations against Jeffrey Scott Nimmow alleging that he sold about $3.5 million in investments in the Woodbridge investments. Unfortunately, Woodbridge has filed for bankruptcy, and investors may suffer considerable losses in these investments. As a result of this investigation, Nimmow was barred for 48 months from the securities industry.
Jeffrey Nimmow was a financial advisor and registered representative of Forest Securities from August 2015 to March 2018. He worked at a branch office Merrimac, Wisconsin. Nimmow was also terminated by Forest Securities for selling Woodbridge.
Brokerage firms like Forest Securities 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 Denver, Colorado; Ann Arbor, Michigan; and Seattle, Washington. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Wisconsin. Our attorneys have represented over one thousand investors against many brokerage firms in the past.