BrokerCheck Report JORDAN ROSS BELFORT

Transcription

1 BrokerCheck Report JORDAN ROSS BELFORT CRD#

2 About BrokerCheck BrokerCheck offers information on all current, and many former, FINRA-registered securities brokers, and all current and former FINRA-registered securities firms. FINRA strongly encourages investors to use BrokerCheck to check the background of securities brokers and brokerage firms before deciding to conduct, or continue to conduct, business with them. What is included in a BrokerCheck report? BrokerCheck reports for individual brokers include information such as employment history, professional qualifications, disciplinary actions, criminal convictions, civil judgments and arbitration awards. BrokerCheck reports for brokerage firms include information on a firm s profile, history, and operations, as well as many of the same disclosure events mentioned above. Please note that the information contained in a BrokerCheck report may include pending actions or allegations that may be contested, unresolved or unproven. In the end, these actions or allegations may be resolved in favor of the broker or brokerage firm, or concluded through a negotiated settlement with no admission or finding of wrongdoing. Where did this information come from? The information contained in BrokerCheck comes from FINRA s Central Registration Depository, or CRD, and is a combination of: o information FINRA and/or the Securities and Exchange Commission (SEC) require brokers and brokerage firms to submit as part of the registration and licensing process, and o information that regulators report regarding disciplinary actions or allegations against firms or brokers. How current is this information? Generally, active brokerage firms and brokers are required to update their professional and disciplinary information in CRD within 30 days. Under most circumstances, information reported by brokerage firms, brokers and regulators is available in BrokerCheck the next business day. What if I want to check the background of an investment adviser firm or investment adviser representative? To check the background of an investment adviser firm or representative, you can search for the firm or individual in BrokerCheck. If your search is successful, click on the link provided to view the available licensing and registration information in the SEC's Investment Adviser Public Disclosure (IAPD) website at In the alternative, you may search the IAPD website directly or contact your state securities regulator at Are there other resources I can use to check the background of investment professionals? FINRA recommends that you learn as much as possible about an investment professional before deciding to work with them. Your state securities regulator can help you research brokers and investment adviser representatives doing business in your state. Using this site/information means that you accept the FINRA BrokerCheck Terms and Conditions. A complete list of Terms and Conditions can be found at brokercheck.finra.org For additional information about the contents of this report, please refer to the User Guidance or It provides a glossary of terms and a list of frequently asked questions, as well as additional resources. For more information about FINRA, visit Thank you for using FINRA BrokerCheck.

3 JORDAN ROSS BELFORT CRD# Report Summary for this Broker The report summary provides an overview of the broker s professional background and conduct. Additional information can be found in the detailed report. This individual is no longer registered with FINRA. The individual s registration with FINRA was terminated prior to August 1999 when the enhanced CRD system was implemented. As a result, since the individual was not required to update their CRD record via the submission of a Form U4 to CRD since August 1999, BrokerCheck contains only limited information about this individual. Broker Qualifications This broker is not currently registered with a FINRA firm. This broker has passed: 1 Principal/Supervisory Exams 1 General Industry/Product Exams 1 State Securities Law Exams Registration History This broker was previously registered with the following FINRA member firms: STRATTON OAKMONT INC. CRD# LAKE SUCCESS NY 06/26/1989 to 02/24/1994 STRATTON SECURITIES, INC. CRD# LAKE SUCCESS NY 04/03/1989 to 06/27/1989 INVESTORS CENTER, INC. CRD# GREAT NECK NY 02/19/1988 to 03/10/1989 F.D. ROBERTS SECURITIES, INC. CRD# 693 PARAMUS NJ 12/24/1987 to 3/22/1988 Disclosure of Regulatory Events This section includes details regarding final regulatory events reported by or about this broker to CRD as part of the securities industry registration and licensing process. Are there events disclosed about this broker? Yes The following type of disclosure was reported: Regulatory Event

4 D.H. BLAIR & CO., INC. CRD# 6833 NEW YORK NY 11/11/1987 to 01/09/1988 L. F. ROTHSCHILD & CO. INCORPORATED CRD# 501 NEW YORK CITY NY 09/22/1987 to 11/17/1987

5 Broker Qualifications Industry Exams this Broker has Passed This section includes all securities industry exams that the broker has passed. Under limited circumstances, a broker may attain a registration after receiving an exam waiver based on exams the broker passed and/or qualifying work experience. Any exam waivers that the broker has received are not included below. This individual has passed 1 principal/supervisory exams, 1 general industry/product exams, and 1 state securities law exam. Exam Class Exam Name Category Date Principal/Supervisory Exams General Securities Principal Examination Series 24 1/13/1989 General Industry/Product Exams General Securities Representative Examination Series 7 9/19/1987 State Securities Law Exams Uniform Securities Agent State Law Examination Series 63 10/6/1987 Additional information about the above exams or other exams FINRA administers to brokers and other securities professionals can be found at

6 Registration History This broker previously was registered with FINRA at the following firms: Registration Dates Firm Name CRD # Branch Location 06/26/1989 to 02/24/1994 STRATTON OAKMONT, INC LAKE SUCCESS NY 04/03/1989 to 06/27/1989 STRATTON SECURITIES, INC LAKE SUCCESS NY 02/19/1988 to 03/10/1989 INVESTORS CENTER, INC GREAT NECK NY 12/24/1987 to 03/22/1988 F.D. ROBERTS SECURITIES, INC. 693 PARAMUS NJ 11/11/1987 to 01/09/1988 D.H. BLAIR & CO., INC NEW YORK NY 09/22/1987 to 11/17/1987 L. F. ROTHSCHILD & CO. INCORPORATED 501 NEW YORK CITY NY

7 Disclosure of Regulatory Events What you should know about reported disclosure events: 1. Disclosure events in BrokerCheck reports come from different sources: As mentioned at the beginning of the report, information contained in BrokerCheck comes from brokers, their employing firms, and regulators. When more than one source reports information for the same disclosure event, all versions of the event will appear in the BrokerCheck report. The different versions are separated with reporting source labeled. Disclosure Event Details This report provides the information exactly as it was reported to CRD and therefore some of the specific data fields contained in the report may be blank if the information was not provided to CRD.

8 Regulatory - Final This type of disclosure event involves a final, formal proceeding initiated by a regulatory authority (e.g., a state securities agency, self-regulatory organization, federal regulator such as the Securities and Exchange Commission, foreign financial regulatory body) for a violation of investment-related rules or regulations. Disclosure 1 of 3 ~ Entry 1 of 1 Reporting Source: Details: Regulator 1. Action Codes: REV CEN CDO 2. Action Date: 1/31/95 3. Proviso: Not Provided 4. Previously Reported: No 4a. Occurrence Number: Not Provided 5. Initiated by: STATE OF MICHIGAN, CORPORATION & SECURITIES BUREAU, DLB/BLC 6a. Docket/Case#: SA b. Court Name/Location: Not Provided 7. Allegations: NO 8. Results: AGENT HAD VIOLATED SECTION 204(a)(1)(F) OF THE MICHIGAN UNIFORM SECURITIES ACT BY BEING THE SUBJECT OF AN ORDER ISSUED BY SECURITIES AND EXCHANGE COMMISSION BARRING HIM FROM ASSOCIATION WITH THE BROKERAGE BUSINESS. CONSEQUENTLY, HIS LICENSE WAS REVOKED AFTER HE FAILED TO REQUEST A HEARING. 9. Subject Wanted for Prosecution: No 10. Summary: SEE ABOVE CONTACT: DEBORAH L. BROWN,

9 Disclosure 2 of 3 ~ Entry 1 of 1 Reporting Source: Details: 1. Action Codes: REV 2. Action Date: 4/07/94 3. Proviso: Not Provided 4. Previously Reported: No Regulator 4a. Occurrence Number: Not Provided 5. Initiated by: MARYLAND DIVISION OF SECURITIES 6a. Docket/Case#: A b. Court Name/Location: N/A 7. Allegations: THE DIVISION ALLEGED STATUTORY DISQUALIFICATION PURSUANT TO SEC (a) (4) OF THE MARYLAND SECURITIES ACT IN THAT BELFORT CONSENTED TO AN ORDER THAT PERMANENTLY ENJOINED HIM FROM VIOLATION OF THE ANTIFRAUD PROVISION OF THE ACT AND REQUIRED HIM TO PAY A CIVIL PENALTY OF $100, Results: AN ORDER TO SHOW CAUSE WITH INTENT TO REVOKE WAS ISSUED ON 3/16/94, GIVING BELFORT THE OPPORTUNITY TO REQUEST A HEARING. NO SUCH REQUESTG WAS RECEIVED AND A FINAL ORDER OF REVOCATION WAS ISSUED 4/7/ Subject Wanted for Prosecution: No 10. Summary: AGENT REGISTRATION REVOKED 4/7/94 CONTACT: ELLEN E. CHERRY, (410) Disclosure 3 of 3 ~ Entry 1 of 2 Reporting Source: Details: Regulator SECURITIES AND EXCHANGE COMMISSION NEWS DIGEST, ISSUE 94-22, DATE FEBRUARY 3, 1994 CIVIL ACTION DISCLOSES; "THE COMMISSION ACCEPTED THE OFFERS OF SETTLEMENT OF STRATTON OAKMONT, INC. JORDAN BELFORT, KENNETH GREENE AND DANIEL PORUSH, STRATTON WILL PAY DISGORGEMENT OF $1,537,146 PLUS PREJUDGMENT INTEREST OF $518,622, TO BE USED TO COMPLENSATE STRATTON CUSTOMERS, AND CIVIL PENALTIES OF $500,000. FURTHER, STRATTON CONSENTED TO AN ORDER THAT CENURES STRATTON AND ORDERS IT TO COMPLY WITH CERTAIN REMEDIAL UNDERTAKINGS. BELFORT WILL BE PERMANENTLY ENJOINED FROM VIOLAITONS OF THE ANTIFRAUD PROVISIONS AND REQUIRED TO PAY A CIVIL PENALTY OF $100,000. FURTHER, BELFORT CONSENTED TO AN ORDER THAT BARS HIM FROM ASSOCIATION WITH CERTAIN COMMISSION REQULATED ENTITIES. GREENE WILL BE PERMANENTLY ENJOINED FROM VIOLATONS OF THE ANTIFRAUD PROVISIONS

10 AND REQUIRED TO PAY A CIVIL PENALTY OF $100,000. FURTHER, GREENE CONSENTED TO AN ORDER THAT BARS HIM FROM ASSOCIATION WITH CERTAIN COMMISSION REGULATED ENTITIES WITH A RIGHT TO REAPPLY AFTER FIVE YERS. PORUSH CONSENTED TO AN ORDER THAT SUSPENDS HIM FROM ASSOCIATION IN A SUPERVISORY CAPACITY WITH CERTAIN COMMISSION REGULATED ENTITES FOR A PERIOD OF 12 MONTHS AND ORDERS HIM TO PAY A PENALTY OF $100,000. THE COMPLAINT ALLEGED THAT THE DEFENDANTS ENGAGED IN FRAUDULENT SALES PRACTICES IN THE OPERATION OF A BOILER-ROOM BROKER-DEALER AN MANIPULATED THE MARKET PRICE OF THE SECURITIES OF NOVA CAPITAL, INC. [SEC. V. STRATTON OAKMONT, INC. ET AL., CIVIL ACTION NO (JES)] (LR-13955) SECURITIES AND EXCHANGE COMMISSION NEWS DIGEST, ISSUE 94-56, DATED MARCH 25, 1994 ENFORCEMENT PROCEEDINGS DISCLOSES; THE SAME INFORMATION AS SEC NEWS DIGEST WITH THE LITIGATION RELEASE NUMBER BEING (LR SECURITIES AND EXCHANGE COMMISSION DOCKET VOLUME 56, NO. 6, DATED APRIL 5, 1994, PAGE 822, DISCLOSES; ORDER BARRING RESPONDENT BELFORT FROM ASSOCIATION WITH ANY BROKER, DEALER, INVESTMENT COMPOANY, INVESTMENT ADVISER OR MUNICIPAL SECURITIES DEALER IS DATED AND EFFECTIVE MARCH 17, Disclosure 3 of 3 ~ Entry 2 of 2 Reporting Source: Firm Details: JDS ; Form U5; Full; BROKER/DEALER Questions: 13A Update: Not Provided 3. Initiated by: U.S. SECURITIES & EXCHANGE COMMISSION 4. Type of Event/Proceeding: CIVIL 5. Date Initiated: 3/20/92 6. Docket/Case#: 92-CIV-1993(JES) 7. Allegations: THE SECURITIES AND EXCHANGE COMMISSION INJUNCTIVE COMPLAINT ALLEGES FRADULENT AND MANIPULATIVE SALES PRACTICES IN REFERENCE TO A NUMBER OF SECURITIES, PARTICULARLY NOVA CAPITAL INC. (ALSO VISUAL EQUITIES, INC.) AGAINST STRATTON OAKMONT, INC., ITS PRINCIPALS AND AGENTS, INCLUDING JORDAN BELFORT. THE CLAIMS ALLEGE BOTH PRIMARY AND SECONDARY LIABILITY CLAIMS. JORDAN BELFORT, AS A CONTROLLING PERSON OF STRATTON OAKMONT, INC., WAS NAMED IN THE COMPLAINT. 8a. Current Status: SETTLED 8b. Status Date: ON OR ABOUT 2/28/94 8c. Results: JORDAN BELFORT CONSENTED, WITHOUT ADMITTING OR DENYING THE COMPLAINT'S ALLEGATIONS, TO ADMINISTRATIVE BAR FROM THE SECURITIES BUSINESS. IT SHOULD BE UNDERSTOOD THAT THE CONSENT JUDGMENT DOES NOT HAVE ANY PRECLUSIVE OR BINDING EFFECT ON ANY OTHER LEGAL PROCEEDING. 9. Summary: Not Provided 10. Attachments:

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