Financial Advisor Jeffrey Broten (CRD# 1006678) Barred by FINRA – New Jersey

FINRA has permanently barred Jeffrey A. Broten from the securities industry. Jeffrey Broten was a financial advisor and registered representative at the following firms:

• Newbridge Securities Corporation (affiliated with Black River Wealth Management LTD), Morristown, NJ (August 2019 to December 2019);
• First Standard Financial Company LLC, Red Bank, NJ (February 2018 to August 2019); and
• National Securities Corporation, Titan Falls, NJ (December 2009 – March 2018).

FINRA alleged that Jeffrey Broten failed to cooperate with its investigation regarding allegations of unsuitable and unauthorized trading while employed at First Standard Financial Company LLC in Red Bank, New Jersey.

Earlier this year, the New Jersey Bureau of Securities sanctioned Jeffrey Broten $100,000 and revoked his license after concluding an investigation into whether Mr. Broten, while employed at First Standard Financial Company LLC, engaged in a pattern of excessive, unsuitable, and unauthorized trading activity in customer accounts. The New Jersey regulator alleged that the excessive, unsuitable, and unauthorized trading resulted in large financial losses in customers’ investment accounts and generated large commissions and fees for Jeffrey Broten and First Standard Financial Company LLC.

Jeffrey Broten has also been the subject of at least five customer complaints.

Brokerage firms like Newbridge Securities Corporation, First Standard Financial Company LLC, and National Securities Corporation have a duty to properly supervise financial advisors and customer accounts. Brokerage firms must also establish and maintain a reasonably designed system to supervise account activity to ensure compliance with securities laws and industry regulations. When a brokerage firm fails to adequately supervise their financial advisors or the investment account activity, they may be liable for investment losses sustained by customers.

If you have lost money with financial advisor Jeffrey Broten, contact New York securities arbitration attorney August Iorio of Iorio Law PLLC. August Iorio can be reached at info@iorio.law or toll-free at (646) 330-4624 for a free and confidential review of your legal rights.

About Iorio Law PLLC

Iorio Law PLLC is a securities arbitration law firm located in New York, NY. We represent investors nationwide and vigorously pursue FINRA arbitration claims on behalf of investors to recover investment losses.

We have over 15 years of experience as securities arbitration lawyers and have helped investors recover investment losses in over 800 cases. The firm will file a FINRA securities arbitration claim on your behalf on a contingency fee basis to try to recover your losses. If we do not obtain a recovery, you do not owe us a legal fee.

This blog was published by August Iorio when he was a Partner at his previous firm and has been updated to reflect Iorio Law PLLC’s new contact information. To evaluate any potential claims, contact securities arbitration lawyer August Iorio for a free consultation contact Iorio Law PLLC at info@iorio.law or (646) 330-4624.