Former Wells Fargo Advisor Accepts Industry Bar Amidst Misuse of Client Funds Allegations
From the desk of Jim Eccleston at Eccleston Law
A former advisor with Wells Fargo Advisors Financial Network (FiNet) in Chicago, Jayson R. Pocius, has agreed to accept an industry bar rather than cooperate with a Financial Industry Regulatory Authority (FINRA) investigation into allegations of misusing client funds. According to AdvisorHub, the settlement culminates from a termination notice issued by FiNet in May 2023, citing Pocius's admission during a review that he utilized funds from a client's account for personal benefit.
Pocius declined to participate in FINRA's probe, which the Acceptance, Waiver, and Consent (“AWC”) reflects as a violation of industry rules mandating cooperation and adherence to high standards. As reported by AdvisorHub, following his discharge from Wells Fargo, Pocius transitioned to Great Point Capital in Chicago, a firm specializing in retail and proprietary day trading.
Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.
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