Connecticut regulators barred Lemaire after finding she borrowed $140,000 from a client and accepted $947,000 in gifts.
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A financial adviser who worked at a Raymond James branch in Glastonbury has been permanently barred from the securities business in Connecticut after state regulators found she borrowed about $140,000 from a client and accepted $947,000 in cash gifts from two others.
Banking Commissioner Jorge L. Perez entered a consent order Aug. 7 against Jayme Frances Lemaire, of Colchester. Lemaire agreed to pay a $30,000 administrative fine and acknowledged the allegations in the order.
The order bars Lemaire from transacting business in or from Connecticut as a broker-dealer, agent, investment adviser or investment adviser agent, as well as from any other activity requiring a license from the commissioner.
Lemaire was registered as a broker-dealer agent and investment adviser agent with various firms from July 2001 through July 2025, according to the order.
Most recently, she worked for Raymond James Financial Services. The firm discharged her July 2, 2025, citing conduct inconsistent with its policies on borrowing from clients.
The Connecticut Department of Banking’s Securities and Business Investments Division said Lemaire borrowed about $140,000 from a brokerage client, violating a state regulation prohibiting dishonest or unethical business practices as well as FINRA Rule 3240, which restricts brokers from borrowing from customers.
State securities regulators also found that Lemaire accepted $947,000 in cash gifts from two brokerage clients. The amount exceeded the $300 limit on gifts and gratuities under FINRA Rule 3220, according to the order.
Nine days after Raymond James discharged her, Lemaire was hired by Lincoln Investment and filed a Form U4 seeking registration in Connecticut. She answered “no” to a question asking whether she had ever been discharged after allegations that she violated investment-related rules or industry standards of conduct, according to the consent order.
The state contended she had sufficient knowledge of the reason for her Raymond James termination and that her response constituted a false or misleading statement to the commissioner under the Connecticut Uniform Securities Act.
Lincoln discharged her July 22, 2025, saying she had provided inaccurate or incomplete information during onboarding about her departure from Raymond James. According to the consent order, Lincoln specifically cited her failure to disclose that she had been discharged for borrowing money from clients.
Lemaire applied to register with two more firms before the end of 2025, and neither registration went through. The consent order denies all four of her pending applications and revokes her Raymond James registrations.
Lemaire’s attorney provided documentation to the state showing that she offered to repay the client from whom she borrowed money and the two clients who gave her money. All three declined the offers in writing, according to the order. The order also notes that the Banking Department has received no client complaints about the conduct.
Lemaire spent 13 years as managing principal of JayPex Financial Group LLC, a Glastonbury investment advisory firm, according to records filed with the Investment Adviser Registration Depository.
Lemaire waived her right to a hearing and to judicial review of the consent order.
