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Jon Pariser: FINRA Bars Pacific Grove, California Broker

A disciplinary action taken by the Financial Industry Regulatory Authority against former Pacific Grove, California broker Jon Pariser (CRD# 2755015) barred him after finding he failed to cooperate with an investigation into allegations he referred customers to an unregistered individual who may have recommended or sold unsuitable investments. A former representative of Independent Financial Group, Pariser was barred from acting as a broker or otherwise associating with a broker-dealer firm.

According to a Letter of Acceptance, Waiver and Consent (No. 2018058207401) dated October 2018, FINRA sent Jon Pariser a request for documents and information on August 14, in connection with allegations that he had referred customers to an unregistered person “who may have recommended or sold potentially unsuitable securities to them.” FINRA’s findings go on to say that Pariser indicated to FINRA via counsel on August 27, 2018 that he had received the request and would not provide at any time the requested documents and information. FINRA found this refusal constituted a violation of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, Jon Pariser was barred from association with any FINRA member in any capacity.

Jon Pariser’s disclosure records also describe several settled or pending customer complaints against him. A complaint filed in 2007, for instance, alleged that as a representation of LINSCO/Private Ledger Corporation he executed an unauthorized equities purchase. The complaint reached a settlement of $50,000. A 2006 complaint alleged that as a representative of LINSCO/Private Ledger Corporation, he purchased “improperly unsafe” corporate bonds without approval; the complaint reached a settlement of $50,000. A pending complaint filed in April 2019 alleged that as a representative of Independent Financial Group, he was liable for “investments [the claimants] made through an individual to whom rep sold his business”; the claimants allege damages of $1,268,000. A pending 2018 complaint alleges that Independent Financial Group failed to supervise him allowing him to recommend the claimants use the services of “two individuals who were not affiliated with IFG and who convinced them to take their money from the investments held through IFG” and invest in certain promissory notes; the claimants allege damages of $2,011,000.

Jon Pariser is currently not registered as a broker or investment adviser. His employment history includes Independent Financial Group in Pacific Grove, California, SWS Financial Services, LPL Financial, Edward Jones, and ML Stern & Company. He currently holds zero state licenses and has passed three securities industry qualification examinations.

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