Last Updated: June 2024 (Massapequa, NY)
James Edward McArthur Investigation Summary
Here’s what you need to know about Massapequa, NY stockbroker James Edward McArthur:
- Name: James Edward McArthur
- Current Employer: Not currently registered with FINRA
- Former Employers: IBN Financial Services, Traderfield Securities, American Portfolio Financial Services, A.G. Morgan Financial Advisors
- Function: Stockbroker / Financial Advisor
- Primary Location: Massapequa, NY
- CRD Number: 2797856
- Can James Edward McArthur be sued in FINRA arbitration: Yes
- Pending Regulatory Matter: Yes, Securities and Exchange Commission
- Five Pending Customer Disputes Seek Damages of over $4 Million
If you’ve sustained damages from Mr. McArthur, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With James Edward McArthur As Your Stockbroker?
Five customers of IBN Financial Services, Traderfield Securities and Momentix Capital have filed FINRA arbitrations seeking total damages of more than $4,000,000. The customers allege that James McArthur engaged in the sale of unregistered securities (promissory notes), violated FINRA Rules 2010, 2020, 2111 and 3280. These cases are currently pending.
In 2022 the Securities and Exchange Commission filed a civil action alleging that James McArthur was chief compliance officer of A.G. Morgan Financial Advisors which raised more than $200 million selling unregistered securities to more than 200 investors. Claims are also made in connection with sales of promissory notes issued by Complete Business Solutions Group, Inc. d/b/a Par Funding. The regulatory action seeks disgorgement, injunction and monetary penalties and fines.
McArthur was “permitted to resign” from IBN Financial Services in 2022 for his involvement in offering and selling more than $500 million in unregistered securities.
FINRA Rule 2010-states that a member: “in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.”
[LEARN MORE]: Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
[LEARN MORE]:FINRA Rule 2111- suitability -Regulation Best Interest
Allegations of Broker Misconduct Against James Edward McArthur
Allegations
Customers of James Edward McArthur have alleged the following wrongdoing in connection with the handling of customer accounts:
- Sale of unregistered securities
- Negligence
- Breach of contract
- Misrepresentation and omission of material facts
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by James Edward McArthur, contact us for a complimentary consultation with an experienced 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.
