April 2020-Houston, TX
According to publicly available records of James Joseph Kearney (CRD#265734) , a former stockbroker who last worked for Raymond, James & Associates, discloses a regulatory event, 3 customer disputes and a termination.
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 December of 2019, FINRA suspended Kearney from the securities industry for 15 days and fined him $2,500 after finding that he exercised discretion by placing trades in customers’ accounts without written authorization from the customers and without acceptance of the accounts as discretionary by his member firm.
From 1993 to 2018, three customer disputes were filed against Kearney alleging among other things unsuitable investments, excessive trades, unauthorized trades, breach of fiduciary duty, fraud, deceptive trade practices, breach of contract and negligence. These cases were collectively settled in the amount of $117,000.
Kearney was employed by Raymond, James & Associates, lnc. from February 2013 until he was discharged in October 2018 after a customer alleged that he was trading the account without permission of the customer. Prior to that time he was with Morgan Keegan & Compnay, Robert W. Baird & Co. and SG Cowen Securities Corporation.
If you had an account with James Kearney that suffered losses, you may be entitled to collect damages from his prior employer. 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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