Broker Investigation: Jonathan Sweeney

Jonathan Sweeney (CRD#: 4914852) is a previously registered investment advisor. Most recently, Mr. Sweeney was employed as a broker at Navy Federal Brokerage Services, based out of an office in San Diego, California (2011-2016). Before that, this broker was a representative for USAA Financial Advisors in Phoenix, Arizona.

On May 16th, 2018, the Financial Industry Regulatory Authority (FINRA) permanently barred Jonathan Sweeney from the securities industry. Here, our investment fraud lawyers review the complaint against Mr. Sweeney. For full details on this case, please refer to Disciplinary Proceeding No. 2016050142601.

FINRA Disciplinary Action: Jonathan Sweeney

According to FINRA, Jonathan Sweeney made material misrepresentations and material omissions to his customers. Due to his unsuitable investment recommendations, these customers then surrendered variable annuities, and used the proceeds to purchase a similar product when it made no financial sense to do so. Affected customers both incurred additional costs and lost some key benefits. Further, FINRA contends that Mr. Sweeney attempted to conceal the misconduct by falsifying documents.

The misconduct, in this case, is alleged to have occurred in 2015, while Mr. Sweeney was employed as a securities representative at Navy Federal Brokerage Services. Without admitting to or denying any of FINRA’s finding, Jonathan Sweeney consented to the proposed penalties, which include a permanent bar from the securities industry. 

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