Jim Turpin, USA Financial Broker, Involved in Theft Allegations
Jim Turpin (CRD# 5937001), formerly a broker registered with USA Financial Securities Corporation, committed forgery and theft, according to an investor dispute. MDF Law is investigating the former Haddonfield, New Jersey-based financial professional for similar conduct. Investors who suffered losses in their accounts should contact us for a free consultation.
To learn more about Mr. Turpin’s professional history, keep reading. This post is based on a February 20, 2025 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record.
FINRA Suspended, Barred Broker
On October 11, 2024, FINRA filed a disclosure regarding its disciplinary action against Mr. Turpin. According to the disclosure, the action stemmed from allegations that he failed to respond to requests for information. As a result, FINRA suspended him from associating with any FINRA member in any capacity. When he failed to request termination of his suspension, it converted to a bar on January 14, 2025.
Pending Dispute Alleges Forgery, Theft
On September 24, 2024, an investor lodged a dispute involving Mr. Turpin. In this claim, the investor alleged that he committed forgery and theft. The seek unspecified alleged damages in the dispute, which is still pending.
What Is FINRA Rule 2150?
As you may be aware, securities industry rules forbid brokers like Mr. Turpin from misappropriating client funds. Perhaps one of the most important standards is FINRA Rule 2150. This rule prohibits firms and their employees from making “improper use of a customer’s securities or funds.” It also states that brokers, with some exceptions, cannot share in profits or losses in client accounts, whether directly or indirectly. Another relevant standard is FINRA Rule 2010, under which brokers must observe high standards of commercial honor. It also requires them to observe just and equitable principles of trade.
USA Financial Fired Jim Turpin in 2024
On June 7, 2024, USA Financial Securities Corporation filed a disclosure regarding its termination of Mr. Turpin. According to the disclosure, it fired him following allegations “allegations of theft from a client account.” The disclosure does not provide any additional context regarding the allegations.
FINRA: Broker Last Based in Haddonfield, New Jersey
Mr. Turpin started working as a broker when he registered with BCG Securities in 2012. In 2014, he left the firm for United Planners’ Financial Services, which he departed in 2016. One year later, in 2017, he joined USA Financial Securities. Until his firing in 2024, he was based at its branch office in Haddonfield, New Jersey. Boasting 11 years of securities industry experience, he has completed three industry exams, including the Series 6 and the Series 63.
Investment Complaints? Call MDF Law Today
Are you a former client of Jim Turpin who suffered losses in your accounts? MDF Law may be able to help you get it back. Contact our dedicated investment fraud attorneys for a free consultation today. Our clients only pay a fee if they recover lost funds, and we offer free consultations across the US. You may have a limited window to pursue losses, so we urge you not to delay: contact MDF Law at 800-767-8040 today.