- August 1, 2022
- Raymond James
Jermaine Benjamin (CRD#: 6152653) is a previously registered Broker and Investment Advisor.
He entered the securities industry in 2013 and previously worked for Raymond James Financial Services, Inc.; and Pruco Securities, LLC.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in May 2022, a customer dispute was filed against Jermaine Benjamin. The allegation states, “Customer Alleges unauthorized transactions and misappropriation/defalcation.” The customer dispute remains pending.
Defalcation refers to theft from a customer account. This overs when a broker gains access to a customer accounts and unlawfully withdraws funds for an improper and unauthorized purpose.
For a copy of Jermaine Benjamin’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.
In addition, to the extent a Financial Advisor converts client assets during the course and scope of his employment and/or registration with the brokerage firm, that brokerage firm may be held liable for any attendant losses.
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 firstname.lastname@example.org.