In a recent disciplinary action announcement, FINRA announced that Jay John Soojian (CRD #2768599, Wayne, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Soojian consented to the sanction and to the entry of findings that he fraudulently omitted material facts in connection with his sales of $775,000 of an entity’s limited partnership interest securities to investors. The findings stated that among other things, while soliciting investors and referring them to the entity to invest in the limited partnership interests, Soojian failed to disclose material facts to those investors concerning the civil disciplinary and criminal history of one of the entity’s principals. Soojian also failed to disclose material facts regarding his compensation for those referrals. As a result of his conduct, Soojian willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, and FINRA Rules 2010 and 2020. The findings also stated that Soojian participated in private securities transactions for compensation without giving prior written notice to, or receiving prior written approval from, his member firm.
For the full FINRA findings, see FINRA case #2012034353601.
According to his FINRA Broker Report, Soojian was employed by Park Avenue Securities from September 2011 through October 2012 and New England Securities from 2000 through August 2011.
The foregoing information, which is all provided on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
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