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Eugene McAdams Barred for Allegedly Failing to Cooperate with FINRA Investigation

Sep 17, 2021 Barred Broker

Eugene McAdams (CRD #: 4190211), a broker formally registered with Joseph Stone Capital, has been barred by FINRA, according to his BrokerCheck record, accessed on November 8, 2021. Keep reading for more details regarding the allegations.

FINRA Allegations 

According to an Acceptance, Waiver, and Consent agreement dated August 4, 2021, Eugene McAdams consented to the findings that he allegedly refused to provide on-the-record testimony requested by FINRA in connection with its investigation into the suitability of his recommended securities transactions in customers’ accounts while registered with his member firm.

FINRA Rule 8210 requires that registered brokers supply FINRA staff with all information and documents requested in the course of an investigation. A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to “observe high standards of commercial honor and just and equitable principles of trade.”

You can read a copy of the AWC here

FINRA Sanctions

As part of the terms of the AWC, Eugene McAdams consented to a bar from associating with any FINRA member in all capacities. 

Investor Allegations 

Eugene McAdams also has an investor dispute on his record, dated June 5, 2018. The investor alleged unsuitable use of a margin account and elder abuse. The dispute settled for $20,000. 

Eugene McAdams Background Information

Eugene McAdams has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Eugene McAdams has worked with the following firms:

  • Joseph Stone Capital (CRD#:159744)
  • Cape Securities  (CRD#:7072)
  • PHD Capital (CRD#:38785)
  • Brookstone Securities (CRD#:13366)
  • America’s Choice Equities (CRD#:135272)
  • J.P. Turner & Company (CRD#:43177)
  • ITRADEDIRECT.COM Corp (CRD#:18281)
  • Emmett A Larkin Company (CRD#:6625)
  • J.P. Turner & Company  (CRD#:43177)
  • IDS Life Insurance Company (CRD#:6321)
  • American Express Financial Advisors (CRD#:6363)
  • Newbridge Securities Corporation (CRD#:104065)
  • Milestone Financial Services  (CRD#:43295)
  • Gunnallen Financial (CRD#:17609)
  • Seaboard Securities (CRD#:755)

Kurta Law Can Help

If you have been victimized after working with Eugene McAdams, don’t hesitate to contact us today at 877-600-0098 or for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.