According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Winslow (Winslow), previously associated with Edward Jones, has at least one disclosable event. These events include one regulatory event, alleging that Winslow recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on March 14, 2025.
The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against John S. Winslow (‘Respondent’). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement which the Commission has determined to accept. The commission finds that On December 6, 2022, a final judgment was entered by consent against Respondent, ordering him to cease and desist from violating RCW 21.20.010, the anti-fraud section of the Securities Act of Washington, as set forth in the judgment entered in the administrative action entitled In the Matter of Determining Whether There Has Been a Violation of the Securities Act of Washington by John Scott Winslow, Order Number S-21-3243-22-CO02 (the ‘Washington Order’) by the State of Washington Department of Financial Institutions, Securities Division. The Washington Order found that from 2013 to 2021, Winslow was a securities salesperson and investment adviser representative for a retired senior citizen (the ‘Client’). It further found that between 2017 and 2020, the Client transferred more than $550,000 to Winslow’s personal bank account and to one of his personal businesses after Winslow told the Client that he needed money to buy a house and that he would repay the Client more than she made on her Edward Jones investments. The Washington Order found that Winslow did not provide the Client with a written agreement for the alleged loan and that Winslow did not repay the Client. The Washington Order also found that Winslow liquidated annuities that were held by the Client and caused the Client to incur nearly $4,000 in surrender charges, and that a resulting $370,000 was paid out of the Client’s account to purchase gold coins through an online account using Winslow’s email address, $360,000 of which were shipped to Winslow’s post office box. Further, the Washington Order found that in connection with the sale of securities in the Client’s accounts, Winslow made false and misleading statements in the Client’s account records regarding certain of the transactions. The Washington Order barred Winslow from making an application for or being granted a broker-dealer, securities salesperson, investment adviser, and/or investment adviser representative license, based on its finding that Winslow had violated RCW 21.20.010, the antifraud section of the Securities Act of Washington, by employing a device, scheme, or artifice to defraud; making an untrue statement of a material fact or omitting to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or engaging in an act, practice, or course of business which operated or would operate as a fraud or deceit upon another person.
Brokers are required to adhere to the SEC’s Regulation Best Interest (Reg BI) standard of care under the Securities Exchange Act of 1934 which establishes a ‘best interest’ standard for broker-dealers and associated persons. This Reg BI standard of care applies to registered representatives making recommendations to customers in the purchase, sale, or exchange of securities or the implementation of investment strategies involving securities and non-securities. The rule also applies to the handling of opening accounts such as account transfers and types of accounts being recommended to be opened. Reg BI is drawn from fiduciary principles that include an obligation to act in the retail investor’s best interest and the broker is prohibited from placing their own interests ahead of the investor’s interest.
There are several different aspects of the rule that brokers must comply with. One of which is the care obligations which requires brokers to form a reasonable belief that their investment advice and recommendations are in the retail investor’s best interest. The care obligations includes three components. First, the advisor must have an understanding of the potential risks, rewards, and costs associated with a product, investment strategy, account type, or series of transactions. Next, the advisor must have a reasonable understanding of the specific retail investor’s investment profile. The customer’s profile information generally includes an investor’s financial situation and needs; investments; assets and debts; marital status; tax status; age; investment time horizon; liquidity needs; risk tolerance; investment experience; investment objectives and financial goals; and any other information the retail investor may disclose in connection with the recommendation or advice. The associated person must then apply both their reasonable diligence into various investment options as well as the information gathered as to the investor’s specific needs when considering the investment recommendation. The broker must explore various alternative investment options available to address these needs and determine that there is a reasonable basis to believe that the recommendation or service being recommended is in the retail investor’s best interest.
In addition to specific investments being recommended, under Reg BI, a broker must also understand the type of account that their client would need in order to meet their care obligations. The SEC has stated that the type of securities account an investor has can greatly affect a customers’ costs and overall investment returns. Further, different account types can offer and support different features, products, securities, or services, and account type would not be appropriately applied in a one size fits all manner.
Winslow has been in the securities industry for more than 23 years. Winslow has been registered as a Broker with Edward Jones since 2013.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.