January 6, 2014 Comments (0) Blog, Securities Fraud

Illinois Secretary of State Suspends Broker Jeffrey Brian Meyer

(Last Updated On: July 17, 2015)

Have you suffered losses as a result of your dealings with Jeffrey Brian Meyer? If so, The White Law Group may be able to help you recover your investment losses.

According to the Illinois Secretary of State, Mr. Meyer has been suspended by the Securities Department for selling unregistered investment notes in an oil and gas company. The Final Order of Suspension and Prohibition alleges that Meyers was an executive of K&M Oil Company, Inc and sold notes totaling more than $50,000 to Illinois residents. At the time, Mr. Meyer was a registered representative of the brokerage firm WRP Investments. The K&M Oil Fund was allegedly not an an approved investment product by either brokerage firm.

According to the Financial Industry Regulatory Authority (FINRA), Mr. Meyer worked with WRP Investments from September 2009 through August 2012, and with Waddell & Reed from January 2006 through September 2009. Mr. Meyer was terminated from WRP for failure to disclose his outside activities to the firm.

Brokerage firms have a supervisory responsibility to monitor the activity of their employees and protect their clients from fraudulent investment products. When a broker, like Meyer, conducts business outside the scope of the brokerage firm he is registered with the act is considered “selling away.” If a broker “sells away” from his firm, the brokerage firm may be liable for negligent supervision and responsible for investment losses. In addition, brokerage firms can be liable for investment losses resulting from unsuitable recommendations and misrepresentation made by their employees.

If you made investments with Jeffrey Brian Meyer and have suffered investment losses, please call the securities attorney of The White Law Group to discuss your litigation options at (312)238-9650 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

To learn more about The White Law Group, visit www.WhiteSecuritesLaw.com.

 

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