Nigel James: New Allegations of Churning
Nigel James (CRD #: 4490687), a broker registered with Joseph Stone Capital, is the subject of a FINRA investigation, according to his BrokerCheck record, accessed on August 25, 2021.
On June 25, 2021, FINRA decided to recommend disciplinary action for Nigel James. FINRA alleges that he excessively traded securities and engaged in unauthorized trading. Brokers sometimes excessively trade investments to generate more commissions for themselves. This type of misconduct is also called “churning.” The regulator also alleged that Nigel James made unauthorized use of a margin account – a type of account that exposes the investor to more of the market using borrowed money.
This is not the only disclosure on Nigel James’ account. On April 25, 2014, an investor alleged that he recommended unsuitable transactions and churned his account. The investor sought $150,000; the dispute settled for $88,000.
Nigel James has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
He is a registered broker in 33 states.
Nigel James has registered with the following firms:
- Joseph Stone Capital (CRD #: 159744)
- First Midwest Securities (CRD #: 21786)
- P. Turner & Company (CRD #: 43177)
- Brundyn Securities (CRD #: 124493)
- LH Ross & Company (CRD #: 37920)
- Harrison Securities (CRD #: 14103)
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