The law firm of Oakes & Fosher is presently investigating the possible misconduct of former securities broker James Conaway. According to his publicly available FINRA BrokerCheck report, James Conaway has been the subject of customer disputes and a FINRA sanction.
James Conaway was a California based securities broker. He worked in the securities industry for twenty-six years. During his career, he was been registered with eight different securities firms.
His Registrations
- MetLife Securities (1989-1996)
- Metropolitan Life Insurance Company (1989-1996)
- PIM Financial Services (1996-1997)
- Royal Alliance Associates (1997-1998)
- Ameritas Investment Corp. (1998-2008)
- QA3 (2008-2011)
- J.P. Turner & Company (2011-2015)
- USA Financial Securities (2015-2016)
The Allegations
- In March 2006, a customer alleged that the withdrawal from their policy was inappropriate. The surrender charge had allegedly not been adequately disclosed to them by James Conaway prior to the transaction taking place. This case was settled for $7,000.
- In November 2012, a customer alleged that James Conaway made unsuitable investment recommendations. This case was settled for $32,826 in damages.
- In May 2018, James Conaway was officially sanctioned by FINRA. The findings in this matter state that he owned and established a rental real estate company outside his member firm. James Conaway allegedly found individuals who had shown interest in purchasing investment rental properties and referred them to real estate vendors through his company. Some of these investors he allegedly referred had already been clients of USA Financial Securities Corporation. The written disclosure that James Conaway had provided USA Financial, disclosing this outside business activity, was both incomplete and inaccurate. He also allegedly failed to comply with his firm’s investigation into the outside business activities. Due to these allegations, he was fined $10,000 and suspended from acting as a securities broker for a period of nine months. He had already been terminated from his position at USA Financial Securities Corporation two years prior when the allegations first came to light.
Oakes & Fosher Can Help
Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.
Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with James Conaway, please contact Oakes & Fosher for a free and private consultation.
