Skip to main content

Exit WCAG Theme

Switch to Non-ADA Website

Accessibility Options

Select Text Sizes

Select Text Color

Website Accessibility Information Close Options
Close Menu
Carlson Law, P.A. Motto
  • Free Consultation
  • ~

Ex-Raymond James Rep Jeff Drost Barred by FINRA

The Financial Industry Regulatory Authority has barred former Victoria, Texas stockbroker Jeff Drost (CRD# 4489021) over findings he refused to comply with a FINRA investigation into his conduct. Formerly a representative of Raymond James Financial Services, Mr. Drost was barred from acting as a broker.

According to a Letter of Acceptance, Waiver and Consent (No. 2021071218701) issued on August 27, 2021, FINRA sent Jeff Drost a request on July 29, 2021 to provide documents and information connected to its investigation of his “potential unauthorized borrowing from customers.” The Letter states that he provided FINRA “a partial but incomplete response” on August 6, after which FINRA issued a second request for documents and information on August 19. He allegedly responded to this request with “another partial but incomplete response,” then informed FINRA on August 25 that he would not produce the outstanding documents or information.

FINRA’s findings state that his refusal to provide the documents or information violated FINRA Rules 8210 and 2010. FINRA Rule 8210 empowers FINRA to require persons under its jurisdiction to provide information and documents connected to matters under its investigation, while also forbidding associated persons from refusing to comply with such requests. FINRA Rule 2010, meanwhile, requires associated persons to observe high standards of commercial honor and just and equitable principles of trade. As a result of its findings, FINRA indefinitely barred Jeff Drost from associating with any member firm.

In addition to the above-described FINRA sanction, Jeff Drost’s BrokerCheck report shows that he was discharged from Raymond James Financial Services in April 2021 over allegations he obtained loans from clients without disclosure or prior firm approval.

According to the Financial Industry Regulatory Authority, Jeff Drost holds 19 years of securities industry experience. His previous registrations include Raymond James Financial Services (Victoria, Texas; 2017-2021), Ameriprise Financial Services (San Antonio, Texas; 2015-2017), Investment Professionals (San Antonio, Texas; 2005-2015), The Lincoln National Life Insurance Company (Fort Wayne, Indiana; 2002-2005), and Lincoln Financial Advisors Corporation (Fort Wayne, Indiana; 2002-2005). His credentials include the passage of four securities industry qualifying examinations: the Uniform Combined State Law Examination, or Series 66; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He presently holds no state licenses. (Information accessed on January 2, 2022.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

Facebook Twitter LinkedIn

By submitting this form I acknowledge that form submissions via this website do not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

Latest Blog Posts

Steven Hirata: FINRA Sanctions, Bars Ex-PFS Investments Advisor

Former Fresno financial advisor Steven Hirata (CRD# 1188927) was recently sanctioned by the Financial Industry Regulatory Authority for allegedly refusing to cooperate with an investigation into his conduct. FINRA records...

Read More

Rod Thomas: GPB Auto Complaint Against Former SCF Securities Advisor

Boca Raton financial advisory Rod Thomas (CRD# 4010563) recommended an unsuitable investment in GPB Automotive, according to a recent investor complaint against him. Financial Industry Regulatory Authority records show that...

Read More

Scott Brooks: GPB Capital Complaint Against Gold Coast Advisor

San Clemente, California financial advisor Scott Brooks (CRD# 3235252) recently received an investor complaint alleging he engaged in negligence and other forms of misconduct. Financial Industry Regulatory Authority records show...

Read More

By submitting this form I acknowledge that form submissions via this website do not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

Skip footer and go back to main navigation