Last Updated: October 2023 (Lake Forest, IL)
James Allen Investigation Summary
Here’s what you need to know about Lake Forest, IL, stockbroker James Allen:
- Name: Mr. James Arthur Allen
- Current Employer: Oppenheimer & Co.
- Previous Firms: Sanctuary Securities, David A. Noyes & Co., CitiGroup Global Market
- Function: Stock Broker/ Financial Advisor/Registered Investment Advisor
- Aliases: James Allen, Jim Allen James A. Allen
- Primary Location: Lake Forest, IL
- CRD 2287824
- Can James Allen be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Terminated by prior employer: Yes
- Highest Settlement : $95,000
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With James Allen As Your Stockbroker?
Two cases were settled by customer of David Noyes & Co. (now Sanctuary Securities. The claims alleged James Allen sold unsuitable alternative investments and private placements. One case was settled for $95,000 and the other was settled for $73,000.
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
Allegations of Broker Misconduct Against James Allen
Customers of James Allen have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to invest in alternative investments and private placements
- “Coached” a customer into overstating his net worth to be able to qualify to participate in the Regulation D private placement
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by James Allen, contact us for a complimentary consultation with an experience securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.