- January 23, 2023
Theodore Serure (CRD#: 419023) is a formerly registered Investment Adviser and a registered Broker at Jefferies, LLC in New York, NY.
He entered the securities industry in 1969 and previously worked for J.P. Morgan Securities, LLC; Bear, Stearns & Co., Inc.; and Merrill Lynch, Pierce, Fenner & Smith, Inc.
Current And Past Allegations Of Conduct Leading To Investment Loss
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in November 2022, FINRA sanctioned Theodore Serure with a civil and administrative penalty/fine of $20,000, and a suspension from all capacities for four months beginning December 5, 2022 and ending April 4, 2023. The FINRA sanction states, “Without admitting or denying the findings, Serure consented to the sanctions and to the entry of findings that he borrowed a total of approximately $7.3 million from his customers without providing notice to and receiving pre-approval from his member firms. The findings stated that Serure was never indebted to his customers at any time for more than $2 million since he used some of the loan proceeds to pay off earlier customer loans. Serure repaid all of the customer loans, and none of the customers complained. All of the customers from whom Serure borrowed money were wealthy and financially sophisticated. For example, one is a billionaire, another is a Nobel Prize winner, and a third is the former CEO of a major financial institution. Serure had been close friends with each customer for decades, some since childhood.”
For a copy of the FINRA sanction, click here.
In addition, Theodore Serure has been the subject of one employment disclosure:
- September 2019 — “ALLEGATIONS RELATED TO THE REGISTERED REPRESENTATIVE’S USE OF A PERSONAL EMAIL ADDRESS TO CONDUCT FIRM AND CLIENT-RELATED BUSINESS.” Theodore Serure was discharged by J.P. Morgan Chase Bank.
For a copy of Theodore Serure’s FINRA BrokerCheck, click here.
We Help Investors Recover Investment Losses
Financial Advisers have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisers’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm, P.A. represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., 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.