North Carolina broker Jason Likens suspended.
Jason Likens, a registered representative from Asheville, North Carolina, formerly with International Assets Advisory, LLC, was suspended from FINRA membership as a result of an investigation into his borrowing money from customers without obtaining firm approval, which is a violation of LPL and FINRA rules. Likens entered into an acceptance waiver and consent agreement with FINRA in which he neither admitted nor denied the findings but agreed to a suspension of 15 months and a fine of $10,000.
In July 2017, Jason Likens agreed to the suspension and FINRA published its findings that he borrowed $23,500 from a customer, which he did not start paying back until after the agreed upon deadline had passed and multiple petitions were made. FINRA also found that Likens misled International Assets Advisory, LLC when he submitted a compliance questionnaire in which he denied engaging in any loan transactions.
Jason Likens’ registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration.
Jason Likens was registered with International Assets Advisory, LLC from August 2016 to February 2017 and Oppenheimer & Co., Inc. from March 2009 to August 2016.
According to FINRA’s CRD disclosure report, Jason Likens has been the subject of three customer complaints, one regulatory investigation and two employment terminations.
FINRA is the primary regulator for broker dealers and registered representatives in the United States. FINRA’s role is to promulgate standards and practices for the brokerage industry and to ensure compliance with its rules by licensed entities and individuals.
FINRA has two primary means to ensure compliance with the securities laws; by means of an enforcement unit that investigates and disciplines wrongdoing, and through the establishment of an arbitration forum where investors can resolve disputes against broker dealers. FINRA’s arbitration forum, FINRA Dispute Resolution Inc. is the largest arbitration forum in the country for resolving investor disputes, and typically processes over 10,000 filings annually.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 24 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via unlawful and unsuitable investment transactions. During that time, we have recovered money for over one thousand individuals, pension plans, trusts, and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.