Wells Fargo Stockbroker Sanctioned For Selling Away
Jason Nicholas Dukas of Clearwater Florida a stockbroker formerly registered with Wells Fargo Clearing Services has been fined $15,000.00 and suspended for nine months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he engaged in unapproved private securities transactions during the time that he was associated with Wells Fargo. Letter of Acceptance Waiver and Consent No. 2017055028101 (May 15, 2020).
According to the AWC, from October of 2016 to December of 2016, Dukas took part in private securities transactions which he failed to disclose to Wells Fargo. The AWC stated that a customer of Wells Fargo invested in a motion-analytics company with Dukas’ help. The customer was approached by Dukas to make the investment and had been steered towards meeting with Dukas about the company. FINRA indicated that the customer was also provided promotional materials relating to the investment.
In November of 2016, a promissory note and related investment documentation had been provided to the customer by Dukas. The customer wired $1,500,000.00 to the motion-analytics company in response. FINRA determined that Dukas’ failure to furnish written notification to Wells Fargo about his involvement in the private transaction constituted the violation of FINRA Rules 2010 and 3280.g