Tim Jefferson Allegedly Misappropriated Funds

Tim Jefferson (CRD# 5004750[1]), formerly a broker registered with Aegis Capital, engaged in unethical business practices, according to a recent regulatory action. MDF Law is investigating the former Brentwood, Tennessee financial professional for similar conduct. If you have concerns about your investments, contact us for a free consultation.

To learn more about the allegations against Mr. Jefferson, continue reading this post. The information below is based on a September 16, 2024 review of his BrokerCheck record, a Financial Industry Regulatory Authority resource.

Tennessee Seeks Revocation, Penalty

On June 12, 2024, the Tennessee Securities Division undertook an enforcement action against Mr. Jefferson. According to a disclosure on his BrokerCheck report, the Division alleges that he “engaged in dishonest and unethical business practices as a broker-dealer agent.” More specifically, it alleges that he failed to provide the Division with information it requested. Regulators allege further that his failure to provide information constitutes a violation of FINRA Rule 8210. The Division seeks the revocation of his license, as well as a civil penalty, in the action, which is still pending.

FINRA Sanctioned Alleged Rule 8210 Violation

The above-described regulatory action is not the only one in Mr. Jefferson’s professional history. On June 24, 2024, FINRA announced an enforcement proceeding against him. Finding that he violated FINRA Rule 8210 by failing to respond to requests for information, the regulator suspended him from associating with any FINRA member firm in all capacities. As a disclosure on his BrokerCheck profile notes, if he fails to timely request termination of the suspension, it will automatically convert to a bar on September 27, 2024. 

Why Did Aegis and Ameriprise Fire Tim Jefferson?

Two of Mr. Jefferson’s former broker-dealer firms terminated his registration, according to his BrokerCheck profile. In October 2023, Ameriprise Financial Services fired him “for impermissible use of account login credentials for one client, his spouse.” Later, in May 2024, Aegis Capital fired him after receiving a written request for information from FINRA. As a disclosure states, he was “unresponsive to calls and emails from the firm as attempts to status his response.” 

Pending Dispute Alleges Misappropriation

In May 2024 a customer lodged a dispute involving Mr. Jefferson. The claimant, his spouse, alleged that he misappropriated funds from her account. The dispute, which is still pending, seeks an unspecified damages amount.

FINRA: Jefferson Last Based in Brentwood, Tennessee

Tim Jefferson launched his career as a broker in 2005. That year, he registered with MetLife Securities in Franklin, Tennessee. Over the subsequent years, he worked at firms including Ameriprise Financial Services and Aegis Capital. He was registered with Aegis’s office in Brentwood, Tennessee from February 2024 until his firing in May 2024. With 18 years of experience as a broker, he has completed five industry exams. 

Call MDF Law for a Free Consultation

Have you suffered losses investing in securities recommended by Tim Jefferson? You may be able to recover losses through the FINRA arbitration process. Call MDF Law at 800-767-8040 for a free consultation with one of our attorneys. MDF Law’s seasoned investor advocates take cases on a contingency basis, meaning you only pay a fee if you collect a recovery. Your time to file a claim may be limited, so please call today.