James E. Lyons – Raymond James & Associates – Shreveport, LA
According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred former financial advisor James Lyons from the securities industry.
According to the Letter of Acceptance, Wavier & Consent, FINRA barred Lyons for allegedly refusing to give testimony concerning the investigation regarding his discharge from his former employer Raymond James & Associates.
According to his FINRA BrokerCheck report, Lyons was registered with Raymond James & Associates in Shreveport, LA from February 2013 through May 2017 when he was fired for “customer allegation of unauthorized trading.”
Lyons has 8 customer complaints listed on his broker report, including a multi claimant pending claim from November 2017. The damage amount requested on the pending claim is $5,000,000.
Allegations include “Violations of FINRA and Industry Standard Rules; Breach of Contract; Breach of Federal and State Laws; Fraudulent and/or Negligent Representation; Fraudulent Concealment; Unauthorized Trading; Overconcentration and Suitability.”
Prior to working for Raymond James, Lyons was affiliated with Morgan Keegan & Company in Shreveport, LA for 23 years.
For FINRA’s full findings see FINRA Case number #2017054358101.
Failure to Supervise
The White Law Group is investigating the liability that Lyons’s employers may have for failure to properly supervise him.
Brokerage firms are required to properly supervise their advisors. They must ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that James Lyons’s former employers failed to properly supervise him, the firm may be held responsible for the losses in a FINRA arbitration claim.
If you are concerned about your investments with James Lyons and would like a free consultation to discuss your litigation options, please call The White Law Group at 1-888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.