The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Jill Cody. According to her publicly available FINRA BrokerCheck report, Jill Cody has been the subject of multiple customer disputes.

Jill Cody was a New Jersey based securities broker. She worked in the securities industry for fourteen years. During her career, she was registered with five different securities firms. She is no longer working as a registered securities broker in any fashion.

Her Registrations

  • Merrill Lynch (2001-2006)
  • Park Avenue Securities (2007-2008)
  • Columbia Management Distributors (2008-2012)
  • Westminster Financial Securities (2012-2013)
  • Concorde Investment Services (2013-2016)

The Allegations

  • In December 2016, a customer alleged that Jill Cody committed fraud, made material misrepresentations and managed their account negligently. This case was settled for $190,000 in damages.
  • In March 2017, customers alleged that Jill Cody managed their account negligently, breached her fiduciary duty, recommended unsuitable investments, and churned their account. This case was settled for $75,000 in damages.
  • In August 2017, a customer alleged that Jill Cody committed fraud, engaged in deceitful behavior, and overall mismanaged their accounts. This case went to arbitration where the customer was awarded $286,096 in damages. Jill Cody received an identical complaint also in August 2017. This case was settled for $62,500 in damages.
  • In September 2017, a customer alleged that Jill Cody engaged in fraud and unauthorized trading. This case was settled for $56,000 in damages.

Unauthorized Trading

Securities brokers are prohibited from executing trades on behalf of investors without first obtaining the investor’s authorization.  There is however a practice known as discretionary trading that allows a securities broker to execute trades in a client’s account without obtaining authorization for each one, but the broker must first obtain written authorization from the investor first.  This written authorization is necessary as it keeps the investor involved in the process and helps protect them against potential unsuitable investments made without their knowledge.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Jill Cody, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.