Enforcement Actions
Financial Industry Regulatory Authority (FINRA)
CASES OF NOTE
2011
NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.
December 2011 - View all for this month
Jason Sean Harrison
AWC/2009018648901
Harrison engaged in private securities transactions without providing notice, written or otherwise, to his member firm. 
Harrison facilitated investments in bonded life contracts an entity issued to his firm’s customers by bringing the investment opportunity to the customers’ attention and referring them to the entity’s salesperson. The customers subsequently invested a combined total of $150,000 with the entity, and Harrison received fees in the amount of $18,000 from the entity for the referrals, which were paid in the form of checks made payable to Harrison’s relative. Prior to referring his firm’s customers to the entity, Harrison had been told that the firm had prohibited its registered representatives from offering and selling the entity’s products due to concerns that the firm had about the products. Harrison ignored the prohibition, made several customer referrals to the entity, and collected undisclosed referral fees. The entity’s investment subsequently defaulted and all of the customers’ funds were lost.

Harrison engaged in an outside business activity in that he received $2,500 in undisclosed compensation for a customer referral to a life settlement issuer business, without having provided notice to his firm.
Jason Sean Harrison : Fined $15,000; Suspended 1 year
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