Updated: February 2025
Austin, Texas
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
According to FINRA records, Theodore M. Jenkin , formerly a broker with Kestra Investment Services, discloses that :
- he was discharged by Investacorp, Inc. in 9/2015. Investacorp, Inc. alleged that the termination was due to “failure to follow rules and firm policy regarding approved investments”. The subject investment was a conservation easement.
- in 2009 a customer of Ameriprise, his prior employer, was paid $81,202 to resolve allegations that Jenkins made an unsuitable bond recommendation.
- in 2023 a customer of KEstra Investments filed a FINRA arbitration alleging that Jenkins recommended and misrepresented an investment in a conservation easement. Damages of $100,000 are sought in this pending matter.
- Jenkins is not currently registered as a broker.
Jenkin was been registered with Kestra Investment Services from 9/2015- 8/2023. He was registered with Investacorp from 8/2008-9/2015.
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090) Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
FINRA Rule 2111- suitability -Regulation Best Interest
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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