July 2018-Shreveport, LA
The FINRA records of former Raymond James broker James Edward Lyons disclose that he was recently barred from the securities industry and 1 pending and 5 prior customer disputes as well as 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 June 2018 FINRA barred Lyons from the securities industry for failing to appear for on the record testimony in connection with a FINRA investigation.
In May 2017 a customer of Raymond James was paid $400,000 to resolve allegations that Lyons churned their account and made fraudulent omissions in connection with the sale of limited partnerships and other investments.
In FINRA Case 11-3703 a customer of his former employer Morgan Keegan was paid $152,000 to resolve allegations that Lyons made unsuitable recommendations and traded the account without permission.
In currently pending FINRA Case 17-2973 a group of customers of Raymond James alleges that Lyons made unsuitable investment recommendations, traded their accounts without authority, over concentrated their accounts and committed fraud. The customer group is seeking damages of $5,000,000.
Lyons was employed by Raymond James from 2/2013-5/2017 when he was discharged due to a customer allegation of unauthorized trading.Lyons discloses a business affiliation with Vinton Hotel Project.
If you have questions about an account handled by James E. Lyons, contact us for a no charge consultation to learn how you may be able to recover damages through FINRA arbitration.
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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