April 2019-Houston, TX
According to publicly available records James Edward Bashaw (“Jeb”) (CRD#1251491) , a stockbroker who currently is employed by International Assets Advisory , discloses 3 prior customer disputes, a personal bankruptcy filing, a FINRA regulatory investigation and a termination from employment.
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 FINRA Case 16-02452 a customer of LPL Financial sought damages of $3.8 million and alleged unsuitable investments, borrowing from a customer, private securities transactions and failure to supervise with respect to promissory notes and Bashaw’s recommendation to invest in Texas Air Shuttle LLC. In 11/2017, that case was settled for $1.8 million.
On September 24, 2014, James “Jeb” Bashaw , who was a former branch manager with LPL Financial LLC, was terminated for “Failure to follow firm policies and industry regulations”. According to the Houston Business Journal, his company James E. Bashaw & Co. was ranked 13th largest in Houston with 20 brokers as of April 2014.
After leaving LPL Financial , Bashaw joined Wunderlich Securities in Houston for a few months before joining International Assets Advisory.
In 4/2019, FINRA fined Bashaw $5,000 and suspended him for four months to resolve allegations that he borrowed $200,000 from a longtime friend who was also a customer of LPL Financial and failed to seek approval from LPL for the loan.
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.
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