Jennifer Lillian Basey

(CRD #4730054, Lehigh Acres, Florida)

May 29, 2026 – An AWC was issued in which Jennifer Lillian Basey was fined $10,000 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Basey consented to the sanctions and to the entry of findings that she paid two customers a total of more than $1,300 to settle complaints without her member firm’s knowledge or consent on three different occasions. The findings stated that the firm was initially unaware of these complaints or payments because Basey did not report them. Instead, Basey falsely stated in a firm compliance questionnaire that she had not received any customer complaints in the past 12 months. The findings also stated that Basey failed to report the customer complaints she received to her firm and communicated about securities-related business using a communication channel that was not approved or captured by her firm. Basey exchanged text messages with the complaining customers through her personal mobile phone. These communications discussed securities-related business, such as investment recommendations, customer orders and trades, the customers’ complaints and Basey’s undisclosed payments to the customers. By using an unapproved communication channel, Basey caused the firm to fail to capture or maintain these communications. By failing to report the customer complaints she received to the firm, Basey caused the firm to fail to keep a record of those complaints. In addition, Basey falsely attested on firm compliance questionnaires that she did not use text messaging on her personal device for business purposes. Basey also confirmed in the annual employee certifications that she understood business-related texting was prohibited.

The suspension is in effect from June 19, 2026, through September 18, 2026. (FINRA Case #2023080557601)

If you have suffered losses as a result of Jennifer Lillian Basey’s act and/or actions, we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Jennifer Lillian Basey. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-330-6707 or email Matthew Schwartz directly at mschwartz@tslfirm.com.