Edward Jones Advisor Barred by FINRA Over Allegations of Unauthorized Account Changes

Posted on February 12th, 2025 at 11:16 AM
Edward Jones Advisor Barred by FINRA Over Allegations of Unauthorized Account Changes

From the desk of Jim Eccleston at Eccleston Law

FINRA has barred Gwendolyn J. Hayes, a former Edward Jones advisor in Oregon after allegations surfaced that she altered client account information without authorization. According to AdvisorHub, Hayes declined to cooperate with FINRA’s investigation, triggering the automatic sanction.

The investigation, initiated in December, centered on accusations that Hayes had changed client investment objectives, mismarked transactions as unsolicited, and accepted trading instructions from unauthorized individuals. FINRA launched its review following Edward Jones’ decision to terminate Hayes in April. AdvisorHub also reports that the firm cited violations of its policies regarding "fictitious or misleading account or system information" and annual advisory reviews as reasons for her dismissal.

Hayes accepted the FINRA bar through an Acceptance, Waiver, and Consent (“AWC”), without admitting or denying the findings.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, finra

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