James Korth Fined by SEC Following Unauthorized Trades Allegations
James Korth (CRD #1091113), a broker and investment advisor registered with J.W. Korth & Company, has been fined by the SEC for allegedly executing unauthorized trades, according to his BrokerCheck Record accessed on November 8, 2021. Keep reading for more details if you are concerned about James Korth’s conduct as a broker.
James Korth’s SEC Allegations
On September 13, 2021, an SEC complaint was filed collectively against JW Korth & Company’s managing partner James Korth, managing director Holly Korth and JW Korth & Company
The complaint alleges that between January 2016 and April 2018, JW Korth & Company allegedly affected 201 riskless principal transactions with its advisory clients’ accounts without disclosing to the clients in writing before the completion of each transaction the capacity in which it was acting and obtaining transaction-by-transaction client consent in violation of Section 206(3) of the Advisers Act.
Further, JW Korth & Company allegedly violated Advisers Act Section 206(4) and Rule 206-4(7) thereunder by failing to implement written policies and procedures reasonably designed to prevent violations of Section 206(3) of the Advisers Act.
According to the SEC, JW Korth & Company managing partner James Korth and managing director Holly Korth each caused JW Korth & Company violations. JW Korth & Company generated $46,857 in net profits from these transactions. As a result of the conduct described herein, JW Korth & Company willfully violated, and James Korth and Holly Korth caused JW Korth & Company’s violations of Sections 206(3) and 206(4) of the Advisers Act and Rule 206(4)-7.
James Korth’s SEC Sanctions
James Korth was ordered to pay a fine in the amount of $50,000 to the Securities and Exchange Commission.
James Korth has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 4 – Registered Options Principal Examination
- Series 53 – Municipal Securities Principal Examination
- Series 24 – General Securities Principal Examination
James Korth is a registered broker in 17 states. He is also a registered investment advisor in Michigan and Florida.
Besides J.W. Korth & Company, James Korth has not worked with any other firms.
Kurta Law Can Help
If you have been victimized by James Korth, please contact us today at 877-600-0098 or email@example.com for a free consultation.
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