Last Updated: September 2023 (Beverly Hills, CA)
Jim Scala Investigation Summary
Here’s what you need to know about Beverly Hills, CA, stockbroker Jim Scala:
- Name: Mr. Jim Eugene Scala, Jr.
- Current Employer: PHX Financial Inc.
- Previous Firms: Dalton Strategic Investment Services, Brookstone Securities
- Function: Stock Broker/ Financial Advisor
- Aliases: Jim Eugene Scala
- Primary Location: Beverly Hills, CA
- CRD 2493873
- Can Jim Scala be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: Yes
- Discharged by prior employer: Yes
- Highest Settlement: $24,000
- Pending Customer Dispute Seeks Damages of Unspecified Amount
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Jim Scala As Your Stockbroker?
In 2013 FINRA suspended Jim Scala for 15 days and fined him $5,000 for engaging in a private securities transaction without notifying and obtaining approval from Dalton Strategic Investment Services, his member firm.
Scala discloses 4 prior customer disputes on his CRD, including the following:
In 2006 a customer of Milestone Financial Services was paid $24,000 to resolve allegations that Jim Scala failed to place a Stop Order resulting in losses in the account.
In 1998 a customer of Morgan Taylor & Assoc. was paid $9,500 to resolve allegations that Jim Scala churned the account and made unauthorized trades resulting in excessive commissions.
In 11/2022 a customer of PHX Financial filed a FINRA arbitration alleging that Jim Scala breached his fiduciary duty. No specific amount of damages is alleged in this currently pending matter.
Jim Scala was discharged by National Securities Corp in 2008 for being absent without notice or explanation for 5 or more days.
Allegations of Broker Misconduct Against Jim Scala
Customers of Jim Scala have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendations
- Churning
- Unauthorized Trading
- Failure to place stop order
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 Jim Scala, 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.
