May 2017-Borger, TX
The FINRA records of James D. Calder II, a unregistered stockbroker who was last employed by Raymond James Financial Services disclose a final regulatory event and a customer dispute that has been settled.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 2/2017, to resolve allegations by FINRA that he engaged in an undisclosed outside business activity by participating in the sale of life settlement contracts to customers of his firm after it had expressly denied his request to participate in such activity, Calder was suspended for six months and fined $15,000.
In FINRA arbitration 15-02822, a customer of Raymond James Financial Services alleged damages of $120,000 in connection with an investment purchased from Calder that was not authorized by Raymond James Financial Services. That case was settled for $75,000.
James D. Calder II was employed by Raymond James from 8/2002-3/2016.
If you have questions about an account handled by James D. Calder II , contact us to discuss your options.
A viatical settlement is a contract whereby a person diagnosed with a terminal illness sells their life insurance policy for less than its face value in order to obtain a portion of the proceeds while still alive. The buyer (investor) obtains the full value of the policy upon the death of the insured.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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