There are options for clients of barred former Wedbush Securities Inc. broker Jonathan Way (CRD# 1126849) who suffered investment losses due to unsuitable investment recommendations. He was registered with Wedbush Securities Inc. in Napa, California, from 2002 to 2022.
In May 1999, the Ohio Division of Securities denied his salesman license application, alleging, “not of good business repute.”
In June 2023, FINRA barred him after he “consented to the sanctions and to the entry of findings that he refused to provide documents and information requested FINRA in connection with an investigation. The findings stated that this matter originated from FINRA’s review of a Form U5 filed by Way’s member firm, that stated that he was permitted to resign while under internal review for potential sales practice violations. Way responded to FINRA’s initial request, however, he ultimately refused to produce the information and documents requested.”
Jonathan Way Customer Complaints
He has been the subject of three customer complaints between 1989 and 2022, according to his CRD report. The most recent complaint was regarding:
December 2022. “Allegations consist of excessive, unauthorized, and unsuitable trading.” The customer is seeking $1 million in damages, and the case is currently pending. The complaint was regarding equity OTC losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Wedbush Securities Inc. may be liable for investment or other losses suffered by Jonathan Way’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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