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Investor Alleges James Mayes Made Misrepresentations

James Mayes (CRD #: 2879995), a broker registered with Western International Securities, allegedly made misrepresentations to a client, according to his BrokerCheck record, accessed on April 14, 2023. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On March 28, 2023, an investor alleged that James Mayes made misrepresentations and engaged in misconduct related to suitability. The client seeks $100,000 in this pending dispute.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of manipulation, deception, and other fraudulent means of influencing the purchase and sale of securities. Misrepresenting an investment’s limitations, risks, or other relevant information violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their tax status, risk tolerance, and other investments.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

Background Information

James Mayes 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

James Mayes is a registered broker in six states and a registered investment adviser in California.

He has also worked for the following firms:

  • Financial West Group (CRD#:16668)
  • First Allied Securities (CRD#:32444)
  • Prime Pacific Financial (CRD#:28963)
  • Dean Witter Reynolds (CRD#:7556)

Kurta Law Can Help

If you worked with James Mayes 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 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.