Marquardt Law Office LLC is interested in speaking with individuals who suffered losses while investing with Ron Jason Ison. On February 28, 2018, the Financial Industry Regulatory Authority, Inc. (FINRA) barred the former J.P. Morgan Securities LLC broker from associating with firms registered with FINRA. FINRA registers and regulates securities brokers and brokerage firms.
In a Letter of Acceptance, Waiver and Consent (AWC), FINRA stated it barred Shklyar because he declined to produce requested documents during FINRA’s investigation. FINRA reported it was investigating Shklyar for “potential private securities transactions.”
Pavel Shklyar first registered with a FINRA member firm in 1998 and worked as a broker for several firms. He became a General Securities Representative beginning in August 2012 and was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated from August 2012 through January 2015 and with J.P. Morgan Securities LLC from January 2015 through February 2018.
Options to Recover Losses
A brokerage firm must scrutinize and approve all securities that its brokers may offer or recommend to their clients. “Private securities transactions” occur when brokers sell or promote transactions involving securities that are not on their firm’s list of preapproved securities.
Brokers must obtain approval from their firms before participating in private securities transactions, and failure to do so is a securities violation known as “selling away.” Selling away often involves risky, illiquid investments, sometimes even fraud.
A firm may be liable for losses caused by its broker selling away, even if the firm is unaware of it. Firms have a duty to supervise private securities transactions and to implement procedures to detect and prevent selling away. Additionally, firms must investigate red flags of selling away.
If you suffered losses while investing with Pavel Shklyar, contact Marquardt Law Office LLC to receive a free phone consultation with a securities attorney. You may be able to recover your losses.
Marquardt Law Office LLC is a securities law firm located in Chicago, IL that represents clients nationwide who have suffered losses due to misconduct such as fraud and negligence.