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FINRA Bars Former Cambridge Advisor After Refusal to Cooperate With Communications Probe

Posted on February 26th, 2026 at 3:35 PM
FINRA Bars Former Cambridge Advisor After Refusal to Cooperate With Communications Probe

From the desk of Jim Eccleston at Eccleston Law

A former advisor affiliated with Cambridge Investment Research has been barred from the securities industry after declining to comply with a regulatory investigation, according to the Financial Industry Regulatory Authority (FINRA).

Jay D. Zornes consented to FINRA's findings without admitting or denying them. ThinkAdvisor reports that he maintained registration with the firm as a securities representative from March 2014 through May 2025.

The firm permitted Zornes to resign while under investigation for allegedly communicating with clients through unapproved email addresses and an unauthorized text messaging number, as reflected in a termination filing.

According to ThinkAdvisor, FINRA requested documents and information as part of its review into potential off channel communications with customers. The regulator also required on the record (OTR) testimony. Zornes refused both requests.

Regulators continue to scrutinize electronic communications that occur outside firm supervised systems, including texting and messaging applications. The SEC has imposed significant penalties across the industry for similar violations in recent years, according to ThinkAdvisor.

 

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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