The suspension is in effect from April 3, 2017, through April 2, 2018. (FINRA Case #2016048923201)
Jarred M. Lawson (CRD #6093454, Jacksonville, Florida) submitted an AWC (Accept, Waiver & Consent) in which he was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in any capacity for one year. Without admitting or denying the findings, Lawson consented to the sanctions and to the entry of findings that he made negligent misrepresentations or omissions regarding the sale of primarily Class A and C mutual funds during telephone conversations with customers at his member firm.
The findings stated that Lawson failed to discuss all share classes, fees associated with Class A and C shares, and breakpoint fees with the customers. In addition, Lawson made negligent misrepresentations regarding the fees associated with a managed account. By providing inaccurate and incomplete information, Lawson prevented his customers from fully evaluating the investments that he recommended.
The findings also stated that Lawson made misstatements in his firm’s internal system regarding what was discussed during the phone calls. Lawson misstated that he had discussed all share classes and the fees associated with the share classes, when he had not. Lawson also misrepresented the fees associated with a managed account and represented that he had discussed breakpoints or the availability of either investment, when he had not. Lawson’s inaccurate entries in his firm’s internal tracking system prevented the firm from properly supervising Lawson’s transactions. As a result, Lawson impeded the supervision of the transactions and caused his firm to have inaccurate books and records.
Lawson was discharged from Merril Lynch, Pierce, Fenner & Smith Incorporated in January 2016, due to FINRA allegations.
If you feel you have been misled or taken advantage by Jarred Lawson or any Broker and wish to discuss legal action, please contact Darren Blum at 1-877-786-2552 (1-877-STOCK LAW), www.stockattorneys.com for a free consultation.