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James Stephan Involved in a $874,000 Investor Dispute

James Stephan (CRD #: 1628703), a broker registered with Wedbush Securities, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on September 25, 2022. Read on if you have questions about his conduct as a broker.

Investor Dispute

On August 11, 2022, several investors filed a dispute alleging that James Stephan made unsuitable investment recommendations and negligent misrepresentations from June 2018 through March 2022. The clients seek $874,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles describe the client’s risk tolerance, tax status, and investment goals.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence the purchase and sale of securities. Misrepresenting an investment’s risks, requirements, or potential returns violates this rule.

FINRA Rule 2010

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

Background Information

James Stephan has passed the following exams:

  • Series 65 – Uniform Investment Adviser Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

James Stephan is a registered broker in 14 states and a registered investment adviser in California.

He has also worked for First Wall Street Corporation (CRD#:13024) and A. G. Edwards & Sons (CRD#:4).

Kurta Law Can Help

If you worked with James Stephan 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. 

 

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