INVESTOR WARNING! Jeffrey Silverman of Scottsdale, Arizona Barred By SEC
Jeffrey Silverman Barred by SEC
Have you lost money with financial advisor Jeffrey A. Silverman of Scottsdale, Arizona? We are investigating allegations made by the Securities and Exchange Commission (SEC) against Jeffrey A. Silverman. The SEC barred Silverman from the securities industry related to allegations that he manipulated the market price of the common stock of Grandparents, a social media website.
The SEC alleged that Jeffrey Silverman and his father, Anthony Silverman, manipulated the price of Grandparents’ stock by timing the last trade of the day on several occasions to be at a considerably higher price than the previous trade with the intent to influence the closing price. This practice is known as marking the close. This practice creates the false appearance of a rising stock price and is often used to attempt to induce investors to purchase the shares. The SEC alleges that this violated the securities laws. Jeffrey Silverman was ordered to pay disgorgement of $40,000, interest of $5,659, and a civil penalty of $75,000.
Jeffrey Silverman was a financial advisor and registered representative of BMA Securities from June 2010 to August 2012. He was also affiliated with Wilson-Davis & Company from July 2012 to August 2013. Silverman worked at branch offices in El Segundo, California and Salt Lake City, Utah.
Brokerage firms like BMA 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, the Seattle area, Chicago, and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including numerous investors in Arizona and the Phoenix area in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Silverman, Jeffrey SEC ORDER
Click to view: Silverman, Jeffrey BrokerCheck 10.4.16
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Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.