Jayanth Hebbar (CRD #5244889, Bridgewater, New Jersey)

March 1, 2022 – An AWC was issued in which Hebbar was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for six months. Without admitting or denying the findings, Hebbar consented to the sanctions and to the entry of findings that he did not obtain his member firm’s prior written consent before opening, or continuing to maintain, outside brokerage accounts in which securities transactions could be effected and in which he had a beneficial interest. The findings stated that prior to his association with the firm, Hebbar had opened or otherwise established nine outside brokerage accounts. Hebbar disclosed one of those nine accounts on the firm’s New Hire Compliance Questionnaire. However, Hebbar did not obtain the firm’s written consent to maintain the remaining eight of those accounts within 30 days of becoming associated with the firm or at any other time. Hebbar also opened three outside brokerage accounts after his association with the firm without obtaining its prior written consent to open the accounts. On account opening forms for one of the accounts, Hebbar misrepresented his employer and occupation and failed to disclose his association with the firm. In addition, for 10 of the 11 undisclosed outside brokerage accounts, Hebbar did not notify in writing the financial institutions at which he held the accounts that he was associated with the firm. Furthermore, Hebbar executed trades in securities on the firm’s Expanded Watch List and in securities on its Restricted List in violation of firm policies. Hebbar further violated the firm’s policies by not pre-clearing transactions in the undisclosed outside brokerage accounts and by not adhering to required holding periods. The findings also stated that Hebbar signed and submitted compliance questionnaires in which he improperly attested he had disclosed all outside employee and employee-related accounts. On the questionnaires, Hebbar disclosed one brokerage account held at another FINRA member firm but did not disclose the existence of the other outside brokerage accounts. The suspension is in effect from March 7, 2022, through September 6, 2022. (FINRA Case #2021070239501)