January 2020 – Hillside, IL
The FINRA records of Jack David Stone , a former stockbroker who was last employed by Forest Securities, Inc. , disclose 4 regulatory events, 1 pending customer dispute, 2 prior customer disputes, a termination from employment and a bankruptcy.
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.
In 9/2019, FINRA Stone consented to the sanction and to the entry of findings that he refused to appear for FINRA on-the-record testimony in connection with an investigation into his securities activities , including possible misrepresentations to customers, use of discretion and unauthorized transactions. As a result, Stone was permanently barred from the securities industry by FINRA.
In 1/2013 a customer of his prior employer Birkelbach Investment Securities was paid $100,000 to resolve allegations that Stone made unsuitable investments and churned the customer’s account. FINRA Case 11-822
In pending FINRA case 17-2211 a customer of Forest Securities alleges that Stone churned his account, committed fraud ,churned the account and made unauthorized trades in the account. Damages alleged exceed $5,000.
In 5/2000 Stone was permitted to resign from Schwab Capital Markets following being barred from New York Stock Exchange membership for three years for violation of NYSE rules.
Stone discloses a pending Chapter 7 bankruptcy in the Bankruptcy Court for the Northern District of Illinois that was filed 9/2019.
Stone was employed by Forest Securities from 4/2012-8/2019.
If you have questions about an account handled by Jack D. Stone call for a no charge consultation .
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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