FINRA investigated Eskenazi’s alleged misconduct in order to determine the scope of his failure to disclose information to his customers. According to FINRA, between January and March 2014, Eskenazi helped two customers to liquidate variable annuities and transfer funds from another firm to Edward Jones. FINRA alleges Eskenazi failed to inform the two customers that there would be a surrender charge for the liquidation of the variable annuities, which amounted to $10,492.34 and $5,000, respectively. Further, FINRA asserted Eskenazi provided false and misleading to Edward Jones in connection with its internal investigation surrounding Eskenazi’s communications with the customers regarding the variable annuity surrender charges.
Eskenazi’s alleged misconduct violated FINRA Rule 2010 requires members to comply with “high standards of commercial honor and just and equitable principles of trade.” Here, Eskenazi consented to an AWC, without admitting or denying the findings, that he failed to inform the two customers that there would be a surrender charge for the liquidation of the variable annuities, and as consequence, violated financial industry rules and regulations.
Lufrano Law, LLC is a national securities litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. If you suffered investment damages investing with Eskenazi through Edward Jones, you may be able to recover your losses through FINRA arbitration. Our firm only receives a fee if you recover money. Please contact one of our attorneys at (800) 627-2179 to schedule a free consultation.