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Stephen Alan Jaffe with Oppenheimer & Co. Inc. Has 5 Customer Complaints For Alleged Broker Misconduct

Who is Stephen A. Jaffe with Oppenheimer & Co. Inc.?

Stephen Jaffe (CRD #1340770) who is currently registered with Oppenheimer & Co. Inc. and located in Fort Lauderdale, Florida is a subject of one of our many securities industry sales practice abuse investigations. Prior to Oppenheimer & Co. Inc., Stephen Jaffe was associated with 10 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Stephen Jaffe’s employers are not the only ones with regulatory problems. Mr. Jaffe himself was suspended by FINRA for exercising discretion in the customer’s accounts without written authorization is required under FINRA Rule 2510(B). As a result of this same misconduct, he was terminated by his employers at 2 different brokerage firms.

Oppenheimer & Co. Inc. Broker Misconduct

In his career, Stephen Jaffe has been the subject of 5 customer complaints that we know about, 2 of those complaints were filed in the last year to recover investment losses. One of the customer complaints resulted in arbitration proceeding which the investor won and was awarded $45,000. Two of Stephen Jaffe’s 5 customer complaints were settled in favor of investors. One of the customer complaints that was filed this year was denied by his employer, and to date, the customer is not brought any further action. There is currently one pending customer complaint filed against Stephen Jaffe’s current employer Oppenheimer & Co. Inc. for investment losses caused by his alleged misconduct.

Allegations Against Stephen Jaffe

A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:

  • Claimant alleged that the financial advisor advised her to sell her annuities in municipal bonds and reinvest the proceeds and unsuitable common and preferred stocks, unit investment trusts and corporate bonds. The firm settled those allegations for $275,000.
  • Claimant alleged that the financial advisor recommended unsuitable structured products linked to Lehman Brothers promissory notes.
  • Client alleged that unauthorized trading took place in her accounts and that the financial advisor misrepresented and made unsuitable investment recommendations.
  • Client alleged that the financial advisor made unsuitable investment recommendations to purchase variable annuities and unit investment trusts.

Stephen Jaffe Red Flags & Your Rights As An Investor

Of course, Stephen Jaffe did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Stephen Jaffe at Oppenheimer & Co. Inc. on alert to review carefully the activity and performance of their accounts and question whether Stephen Jaffe has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Oppenheimer & Co. Inc. about Stephen Jaffe also raises questions about its supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Oppenheimer & Co. Inc.

If you have questions about Oppenheimer & Co. Inc. and/or Stephen Jaffe and the management or performance of your accounts please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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