June 4, 2019 Comments (0) Blog, Current Investigations

James F. Anderson | Broker Investigation

James F. Anderson – Ameritas – “Selling Away”

Are you concerned about investments you made with financial advisor James F. Anderson? The White Law Group is investigating potential claims involving Anderson and the liability his employer may have for failing to properly supervise him.

According to the Financial Industry Regulatory Authority (FINRA) today, the regulator has reportedly barred Anderson from the securities industry.

Anderson is reportedly barred from association with any FINRA member in any capacity because he allegedly failed to cooperate with FINRA staff during the course of an investigation into allegations that he had engaged in the purchase and sale of securities away from the Firm, without the knowledge or approval of the Firm.

According to his FINRA BrokerCheck report, Anderson was registered with Ameritas Investment Corp. in Dakota Dunes, South Dakota from July 2004 thru February 2019 when he was dismissed for reportedly engaging in “the sales of Indexed Annuities and Promissory Notes away from the firm.”  He purportedly has 1 customer complaint filed against him for allegations of an “unsuitable recommendation to purchase promissory note (selling away).”

“Selling Away”

The White Law Group is investigating the liability that Anderson’s former employer Ameritas may have for his alleged outside business activities.

When a FINRA registered representative conducts business outside the scope of the brokerage firm where they are registered, the act can be considered “selling away.”

Some brokers, looking to supplement their income, will go outside the traditional market, trying to find other products to push.

If a registered broker “sells away” from their firm, the brokerage firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA dispute resolution claim.

If you have invested with James F. Anderson and are concerned about your investments, the securities attorneys at The White Law Group may be able to help you. For a free consultation with a securities attorney, please call our offices at 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.

For more information on The White Law Group, please visit our website at https://www.whitesecuritieslaw.com.

Click here for your FREE consultation.

 

 

 

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