April 2017- Hoboken, New Jersey
According to publicly available records James L. Powers , (CRD# 1793348) , a currently unregistered stockbroker who was last registered with IFS Securities discloses a pending regulatory event.
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 November 2016 FINRA filed a complaint alleging that while employed by Du Pasquier & Co., Powers used his control over firm trading accounts to create fictitious trades between a firm trading account and his personal account for his own personal profit, converted customer funds, and hid a loss he incurred in a firm trading account by repeatedly entering unauthorized, fictitious customer trades and cancelling them before settlement. FINRA Case 2014041985401.
Powers’ prior employment includes IFS Securities, Celadon Financial Group, Aegis Capital Corp. and Du Pasquier & Co. Powers discloses that he he drives for Uber approximately 20 hours per week.
If you have questions about an account handled by James L. Powers, call to discuss your options.
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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