Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lisa Jones (Jones), currently associated with PFS Investments Inc., has at least 2 disclosable events. These events include 2 tax liens, alleging that Jones recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a pending customer complaint on December 18, 2024.
On November 4, 2024, Respondent entered into an Acceptance, Waiver, and Consent (“AWC) with FINRA wherein Respondent consented to a two-month suspension from associating with any FINRA member and to the payment of a fine in the amount of $5,000. According to the findings set forth in the AWC, which Respondent neither admitted nor denied, in August 2021, Respondent disclosed to her firm, PFSI, that she created an LLC to operate an ecommerce storefront and, to manage her storefront, used the services of a company owned and operated by three other PFSI registered representatives, a company whose sole line of business involved assisting customers with setting up and operating ecommerce storefronts. Between August 2021 and February 2023, without informing her firm, Respondent told other PFSI representatives about her e-commerce storefront and the services provided by the company she had engaged, and in return, Respondent was paid at least $16,000 in referral fees for referring five representatives to the company. During the same period, Respondent affirmed on three annual compliance questionnaires that she had completely and accurately disclosed her outside business activities to the Firm. Although Respondent had disclosed her LLC and personal e-commerce storefront, she had not disclosed the receipt of fees for referring others to the company.
