James Stafford Morrison (CRD #1254375) Has Customer Dispute Disclosures on FINRA BrokerCheck

James Stafford Morrison (CRD #1254375) was previously registered as a broker. His FINRA BrokerCheck report, reviewed on May 13, 2026, reflects three customer disputes. If you invested with James Stafford Morrison and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

James Morrison’s FINRA BrokerCheck Report reflects three customer dispute disclosures. Summaries of two disputes are below. One additional customer dispute remains in this category.

On March 16, 2026, claimants alleged James Morrison recommended unsuitable alternative investments. James Morrison’s FINRA BrokerCheck Report lists the matter as pending. It identifies the product as Direct Investment-DPP & LP Interests and lists alleged damages of $5,000. The firm made a good-faith determination that damages would be greater than $5,000. The dispute was filed as FINRA arbitration docket number 26-00557.

On June 17, 2025, a claimant alleged an unsuitable product was sold. James Morrison’s FINRA BrokerCheck Report lists the products as Direct Investment-DPP & LP Interests and Oil & Gas. The claimant sought $450,000 in damages. The matter was withdrawn on June 23, 2025. It was filed as FINRA arbitration docket number 25-01250.

Rule Summary #1: FINRA Rule 2310 (Direct Participation Programs)

FINRA Rule 2310 covers direct participation programs and limited partnership interests. It requires suitability standards and disclosure of key facts. It also addresses liquidity, risks, and the basis for the recommendation.

Rule Summary #2: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for a recommendation. The broker must consider the customer’s investment profile. Disputes about unsuitable alternative investments often focus on fit, risk, and liquidity.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, James Morrison:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam, Series 7, and Series 63.

Was previously registered with firms that include Kestra Investment Services LLC, WS Griffith Securities, Inc., and Omega Securities, Inc.

Kurta Law Can Help

If you have worked with James Morrison and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. A securities attorney can review potential claims and investor protections. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Unsuitable Investments | Securities Attorney

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.