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James Cross Suspended by FINRA

James Cross (CRD #: 2186080), a broker formerly registered with Charles Schwab & Company, has been suspended by FINRA, according to his BrokerCheck record, accessed on April 3, 2025. Keep reading if you want to know more about his alleged conduct as a broker.

FINRA Suspension

On February 5, 2025, James Cross received a Letter of Suspension alleging that he failed to comply with an arbitration award/settlement agreement or to appropriately respond to a FINRA request for information as to the status of his compliance.

These allegations were made in connection with an arbitration award filed on December 11, 2024. In it, Robert W. Baird & Co. alleged that James Cross breached a promissory note by failing to repay the balance after the end of his employment.

The arbitration award made James Cross liable to pay $151,286.52, plus interest, to Robert W. Baird & Company. You can read the award here.

James Cross’ suspension by FINRA will continue until the required payment is made or discharged.

FINRA Rule 9554

FINRA Rule 9554 penalizes brokers for failing to comply with arbitration awards or settlements by suspending or canceling their registration. Brokers can request a hearing within 21 days, after which their suspension or cancellation becomes final.

Article VI, Section 3 of FINRA By-Laws

Article VI, Section 3 of FINRA By-Laws allows FINRA to suspend or cancel the membership of any member who fails to comply with arbitration awards or settlement agreements.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

James Cross has passed the following exams:

  • General Securities Principal Examination – Series 24
  • Municipal Securities Representative Examination – Series 52TO
  • Investment Banking Registered Representative Examination – Series 79TO
  • Securities Industry Essentials Examination – SIE
  • General Securities Representative Examination – Series 7
  • Municipal Securities Representative Examination – Series 52
  • Uniform Securities Agent State Law Examination – Series 63

He has registered with 14 firms in the past. The ten most recent are:

  • Charles Schwab & Company (CRD#:5393)
  • Commerce Brokerage Services (CRD#:17140)
  • Moreton Capital Markets (CRD#:132643)
  • Robert W. Baird & Company (CRD#:8158)
  • Vining Sparks (CRD#:27502)
  • ICBA Securities (CRD#:24088)
  • Sterne, Agee & Leach (CRD#:791)
  • Bear, Stearns & Company (CRD#:79)
  • Robert W. Baird & Company (CRD#:8158)
  • Wells Fargo Brokerage Services (CRD#:16100)

Kurta Law Can Help

If you worked with James Cross and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. 

 

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