Securities Arbitration Lawyers BlogFormer Alexander Capital, L.P. Broker Peyton Nelson Jackson is No Longer Registered in the Securities Industry
The New York-based broker is under investigation for alleged unsuitability, negligence, and financial fraud, among numerous other charges.
During the course of a Financial Industry Regulatory Authority (FINRA) investigation into his potential misconduct as a securities broker, Peyton Nelson Jackson reportedly failed to provide information to the regulatory agency. The investigation was prompted by allegations made by several former customers who complained that Jackson and his former member firms violated numerous industry rules. While this investigation continues, Jackson’s status is considered “Previously Registered,” which means he is not currently licensed to act as a broker or investment adviser.
According to his FINRA BrokerCheck report, Jackson’s 25-year career included 15 disclosures (a disclosure includes any customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings, or any civil or criminal proceedings in which the broker was involved), including two regulatory actions. In May 2016, Jackson was suspended in all capacities from the securities industry for a period of six months and was fined $20,000 for allegedly failing to disclose that he performed business outside his member firm’s knowledge.
His FINRA report also includes five customer complaints that have been settled thus far, with damages granted exceeding $300,000. The allegations in the settled cases include:
- Unsuitable advice
- Churning
- Mismanagement
- Omission of material facts in margin trading
- Breach of contract
- Breach of fiduciary duty
- Fraud
Eight customer complaints against Jackson are still pending and the damage amounts requested exceed $2 million dollars. The allegations in the pending cases include:
- Breach of contract, breach of fiduciary duties
- Fraud, securities fraud
- Misrepresentation
- Negligent misrepresentation
- Violation of the Securities Exchange Act of 1934 and Rule 10b-e
Prior to his employment with Alexander Capital, L.P. in New York, NY from December 2012 to April 2015, Peyton Nelson Jackson was employed by seven firms, most recently:
- Legend Securities, Inc. in New York, NY from March 2011 to December 2012
(NOTE: FINRA expelled this firm in April 2017)
- Dawson James Securities, Inc. in Baltimore, MD from January 2010 to April 2011
- McKim Capital, Inc. in Alexandria, VA from May 2002 to February 2010
If you were one of Peyton Nelson Jackson’s clients and you lost money investing with him, you may be able to recover lost funds through FINRA arbitration.
The attorneys at the Silver Law Group are leaders in the field of securities arbitration. We represent individual and institutional investors across the United States who have lost money at the hands of a trusted financial advisor. Scott Silver is currently the chairman of the American Trial Lawyers Association, Securities, and Financial Fraud Group and routinely represents investors in arbitration claims.
Call us at 800-975-4345 or fill out our online form to get in touch. We work on a contingency basis, so there is no fee unless you recover money.