Alabama General Securities Representative Consents to Bar for Refusing to Cooperate with FINRA Investigation Regarding Possible Fraudulent and Unauthorized TransactionsTuesday, March 24, 2020
James Daughtry, a general securities representative associated with Kestra Investment Services, LLC in Dothan, Alabama up until March 18, 2020, consented to a bar from association with member firms of the Financial Industry Regulatory Authority (FINRA) in a Letter of Acceptance, Waiver and Consent (AWC).
According to his FINRA BrokerCheck report, Daughtry was associated with seven FINRA member firms since obtaining his securities license in 1999. Within the last ten years, Daughtry has been associated with Securities America, Inc. in Lavista, Nebraska (November 2010 – October 2011), Ameriprise Financial Services, Inc. in Dothan, Alabama (October 2010 – February 2015) and Kestra Investment Services, LLC also located in Dothan, Alabama (February 2015 to March 2020).
FINRA Department of Enforcement was investigating Daughtry for possible fraudulent and unauthorized transactions in several of his customer’s accounts at Kestra. FINRA staff sent him a request to provide on-the-record testimony pursuant to FINRA Rule 8210. Through a phone call from his counsel with FINRA staff, Daughtry acknowledged FINRA’s request and refused to provide on-the-record testimony. Consequently, James Daughtry consented to a bar from associating with any FINRA member firm in any and all capacities.
Since 1998, the experienced attorneys at ChapmanAlbin LLC have been fighting for victims of investment fraud and broker misconduct. Call us today at 1-877-410-8172 for a free consultation.