• March 22, 2024
• Raymond James
• Raymond James & Associates Inc

Emily Jean Smith (CRD#: 6287728) was a previously registered broker and investment advisor.

 

Broker’s Background

She entered the securities industry in 2014 and previously worked with Morgan Stanley, and Raymond James Financial Services, Inc.

 

Allegations of Misconduct

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in March of 2023, without admitting or denying the findings, Emily J. Smith consented to the sanctions and to the entry of findings that she falsified documents by reusing customer signature pages and altering customer-signed documents causing her member firm to maintain inaccurate books and records. The findings stated that Between April and December 2022, Smith reused customer signature pages on seven firm documents—four customer agreements, two transfer forms, and a rollover election form—on behalf of six customers. In addition, between January and November 2022, Smith altered 18 documents, including account applications and transfer forms, by adding information such as account numbers, dates, and policy names to the documents after they were signed by nine customers. By reusing customer signature pages and altering customer-signed documents, Smith violated FINRA Rule 2010. In addition, by causing the firm to maintain inaccurate books and records, Smith violated FINRA Rules 4511 and 2010. Respondent also consents to the imposition of the following sanctions:

• A four-month suspension from associating with any FINRA member in all capacities and
• A $5,000 fine.

 

For a copy of Emily J. Smith’s Letter of Acceptance, Waiver, and Consent, click here.

 

In addition, Emily J. Smith has been the subject of two other disclosures which include the following:

• June 2023—Employment Separation After Allegations, “Individual alleged to have engaged in conduct that was inconsistent with the firm’s document integrity policies.” Raymond James Financial Services, Inc. discharged Emily J. Smith.
• July 2019— Employment Separation After Allegations, “Allegations regarding the representative’s making alterations and additions to client documents. The firm did not identify any client harm or determine that the alterations were inconsistent with the client’s wishes.” Emily J. Smith voluntarily resigned from Morgan Stanley.

 

For a copy of Emily J. Smith’s FINRA BrokerCheck, click here.

 

We Help Investors Recover Investment Losses

FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.

 

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.