John Maurice Lamont (CRD #847214) Has Customer Dispute Disclosures on FINRA BrokerCheck

John Maurice Lamont (CRD #847214) is a broker with customer disputes on FINRA BrokerCheck. We reviewed his BrokerCheck report on January 27, 2026. It reflects two customer disputes. If you invested with John Maurice Lamont and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

John Lamont’s FINRA BrokerCheck Report reflects two customer dispute disclosures. Summaries of the disputes are below:

On November 10, 2025, a customer alleged John Lamont made unsuitable recommendations and liquidated investments. John Lamont’s FINRA BrokerCheck report lists the product as Private Placement Energy 11 L.P. The customer requested $50,000 in damages. David Lerner Associates, Inc. denied the complaint on December 8, 2025.

A second customer complaint received on November 10, 2025 also alleged suitability and liquidation issues. John Lamont’s FINRA BrokerCheck report again lists the product as Private Placement Energy 11 L.P. The customer requested $50,000 in damages. David Lerner Associates, Inc. denied the complaint on December 8, 2025.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a reasonable basis for recommendations. A broker should match products to an investor’s profile. That profile includes risk tolerance and liquidity needs.

Rule Summary #2: FINRA Rule 2090 (Know Your Customer)

FINRA Rule 2090 requires firms to know essential facts about customers. That includes investment objectives and authority to act. Clear records can reduce disputes about recommendations.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.

Reg BI is built around four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
2. Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
3. Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
4. Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.

Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.

Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on His FINRA BrokerCheck report, John Lamont:

Is currently registered with David Lerner Associates, Inc. and Spirit of America Management Corp.

Has passed the Securities Industry Essentials (SIE) exam. John Lamont has passed Series 7TO and Series 52TO. He has also passed Series 24, Series 53, Series 63, and Series 65.

Was previously registered with firms that include Bear, Stearns & Co. and Shearson Lehman Brothers Inc.

Kurta Law Can Help

If you have worked with John Lamont and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Securities Fraud

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.