The Rosca Scarlato LLC law firm attorneys are investigating alleged conduct related to Joshua Helmle, Marc Jaffe and Andrea Wood that led to suspension of Andrea Wood, a bar of Marc Jaffe , and a subsequent bar of Joshua Helmle by the Financial Industry Regulatory Authority (“FINRA”).
Investor rights attorney Alan Rosca of the Rosca Scarlato LLC law firm and his colleagues are investigating conduct related to previously registered brokers Joshua Nathan Helmle, Marc Nathan Jaffe and Andrea Friederike Wood. Investors who are concerned about their investments with Helmle, Jaffe and Wood may contact attorney Alan Rosca or his colleagues for a free, no-obligation consultation and discussion of potential options, or to provide any useful information. Call 888-998-0530, via email at arosca@rscounsel.law, or complete the contact form on this webpage.
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FINRA Has Barred Marc Jaffe and Joshua Helmle and Suspended & Fined Andrea Wood
FINRA filed a complaint in April 2020 against Jaffe, Wood, Joshua Helmle, and Integrity Brokerage Services (IBS). The complaint alleges former broker Marc Jaffe engaged in securities business with IBS despite being statutorily disqualified.
Jaffe’s application of registration was allegedly rejected by FINRA’s National Adjudicatory Council which disqualified his registration to properly associate with IBS. Jaffe reportedly disregarded his disqualification and continued to improperly associate with IBS with the alleged assistance from Joshua Helmle and Andrea Wood, as alleged in the complaint.
In addition to broker Marc Jaffe’s disqualification, he allegedly facilitated securities activities in his former customers’ accounts while disqualified.
The Complaint further alleges Jaffe actively engaged in activities at IBS requiring registration such as communicating with IBC customers regarding their investments and receiving commissions under the disguise of the “analyst” agreement considered by the NAC.
Joshua Helmle, the owner and CEO of IBS, allegedly allowed Jaffe to partner with Andrea Wood to conduct her securities business at IBS. In addition, Wood reportedly paid Jaffe a fixed fee representing about 40% of her combined revenue from brokerage commissions and investment advisory fees, as stated in the complaint.
As a result of Marc Jaffe’s alleged misconduct, he agreed to a bar from associated with any FINRA member firm in all capacities. Without admitting or denying the allegations, Jaffe consented to the sanction and to the entry of findings that he associated with a member firm and engaged in its securities business despite being statutorily disqualified.
As a result of Andrea Wood’s alleged misconduct, she accepted a sanction including a suspension from associating with any FINRA member firm in all capacities and a civil and administrative penalty to the tune of $15,000. The suspension will be in effect until December 5, 2021.
On July 23, 2021, by a decision of Extended Hearing Panel, FINRA barred Helmle from associating with any FINRA member firm in any capacity and ordered IBS to pay a fine of $44,938. According to Regulator’s statement, the decision became final on September 9, 2021.
Over 30 Customer Disputes Instituted Against Marc Jaffe
Jaffe’s FINRA Brokercheck page reveals that as of the date of this article he has over 25 customer disputes instituted against him on multiple allegations between 2001 and 2012 that ended in settlement, in addition to eight disputes that closed without action and one $450,000 award in favor of the customer.
The multitude of customer disputes displayed on Marc Nathan Jaffe’s Brokercheck page allege unsuitable investment recommendations, churning, mismanagement, excess commissions, breach of fiduciary duty, breach of contract, excessive trading, negligence, among many others.
Jaffe investors were reportedly paid over $2 million in settlements for the alleged misconduct, as reported on his Brokercheck page.
Investors who are concerned about their investments with Jaffe may contact attorney Alan Rosca by calling 888-998-0530 or via email at arosca@rscounsel.law for a free case evaluation and discussion of potential options.
Joshua Nathan Helmle Involved in a Customer Dispute Alleging Investment Losses
On September 1, 2021, an IBS customer filed a dispute requesting $489,862 in alleged damages for investment losses since 2015, his FINRA Brokercheck report discloses. The case is reportedly filed with FINRA as as of the date of this article the dispute is shown as pending.
Helmle was involved in another customer dispute back in 2010. The customer alleged failure to supervise and requested $80,000 in damages and agreed to conclude the dispute for $22,500 in settlement.
Recent Employment History of Joshua Helmle, Marc Jaffe and Andrea Wood
Joshua Helmle was registered with FINRA for 24 years, during which he was employed by 7 firms. Helmle has been registered with Intergity Brokerage, LLC in Monterey Park, CA, between February 2002 and December 2020. According to his Brokercheck report, on Decemebr 17, 2020 Helmle was permitted to resign during an “internal investigation into performance of supervisory responsibilities, potential breach of firm procedures, unauthorized representation of firm in disciplinary proceeding and prior alleged conduct in an enforcement proceeding”.
Marc Jaffe was registered with FINRA for 23 years and switched employers four times. He was most recently employed with Finance 500 located in Indianapolis, Minnesota from April 2010 until September 2015, according to his Brokercheck page.
In addition, Andrea Wood was registered with FINRA for 18 years and switched employers four times. She was most recently employed with Integrity Brokerage located in Indianapolis, Minnesota from December 2015 until December 2020, according to her Brokercheck page.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Potential Options for Joshua Helmle, Marc Jaffe and Andrea Wood Investors
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or broker misconduct and is currently investigating Joshua Helmle, Marc Jaffe and Andrea Wood’s alleged misconduct leading to FINRA’s sanctions.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Joshua Helmle, Marc Jaffe and Andrea Wood’s alleged misconduct may contact attorney Alan Rosca or his colleagues for a free, no-obligation evaluation of their case by calling 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
