Jefferies Investment Advisers Llc

Allegations: WITHOUT ADMITTING OR DENYING THE FINDINGS, SERURE CONSENTED TO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT HE BORROWED A TOTAL OF APPROXIMATELY $7.3 MILLION FROM HIS CUSTOMERS WITHOUT PROVIDING NOTICE TO AND RECEIVING PRE-APPROVAL FROM HIS MEMBER FIRMS. THE FINDINGS STATED THAT SERURE WAS NEVER INDEBTED TO HIS CUSTOMERS AT ANY TIME FOR MORE THAN $2 MILLION SINCE HE USED SOME OF THE LOAN PROCEEDS TO PAY OFF EARLIER CUSTOMER LOANS. SERURE REPAID ALL OF THE CUSTOMER LOANS, AND NONE OF THE CUSTOMERS COMPLAINED. ALL OF THE CUSTOMERS FROM WHOM SERURE BORROWED MONEY WERE WEALTHY AND FINANCIALLY SOPHISTICATED. FOR EXAMPLE, ONE IS A BILLIONAIRE, ANOTHER IS A NOBEL PRIZE WINNER, AND A THIRD IS THE FORMER CEO OF A MAJOR FINANCIAL INSTITUTION. SERURE HAD BEEN CLOSE FRIENDS WITH EACH CUSTOMER FOR DECADES, SOME SINCE CHILDHOOD. Status: Final Sanction Detail: AS A REGISTERED REPRESENTATIVE OF JEFFERIES LLC, MR. SERURE WAS SUSPENDED IN ALL CAPACITIES FROM 12/5/2022 THRU 4/4/2023. THE SUBJECT PAID MONETARY FINE AMOUNT OF 20000. Summary: SUSPENSION START DATE: 12/5/2022 SUSPENSION END DATE: 4/4/2023