The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Stacy Cheney-Jamison. According to her publicly available FINRA BrokerCheck report, Stacy Cheney-Jamison has been the subject of a FINRA sanction and a customer dispute.

Stacy Cheney-Jamison operated most recently as a Florida based securities based broker. Before that she worked primarily out of Gerogia. She worked in the securities industry for fifteen years. During her career, she was registered with eleven different securities firms. She is no longer working as a registered securities broker in any fashion.

Her Registrations

  • American Express Financial Advisors (2001-2003)
  • IDS Life Insurance Company (2001-2003)
  • Allstate Financial Services (2004)
  • ICMA-RC Services (2004-2005)
  • ING Financial Advisers (2005-2007)
  • MML Investors (2007-2008)
  • Edward Jones (2008-2009)
  • Valic Financial Advisors (2009-2013)
  • First American Securities (2013-2015)
  • IFS Securities (2015)
  • Cuna Brokerage Services (2016-2017)

The Allegations

  • In March 2018, a customer alleged that Stacy Cheney-Jamison breached her fiduciary duty, breached contract, violated the Georgia RICO Act, violated the Georgia Securities Act, and executed unauthorized transactions. This case was settled for $318,107 in damages.
  • In May 2018, Stacy Cheney-Jamison was sanctioned by FINRA. The findings in this matter state that she refused to provide information and documents that FINRA had requested during its investigation into allegations against Stacy Cheney-Jamison that she was involved in private securities transactions and falsified client account forms. Due to these allegations, she was barred by FINRA from acting as a securities broker in any fashion.

What Does This Mean?

It can prove to be incredibly harmful to investors when securities brokers engage in unauthorized securities transactions outside the scope of their member firm. This can often create significant conflicts that can cause brokers to recommend privately traded investments to investors that are woefully unsuited for them. Brokers may begin recommending investments that they themselves have a financial stake in, or recommend investments because they are receiving cash incentives from a third party, or they may simply be recommending private investments because of the incredibly high commissions they receive when doing so. Regardless, it is the job of the securities firm to prevent investors from being harmed by a broker’s conflict of interest. The fact that a broker does not disclose their involvement in an outside security does not free the firm from liability as they should have adequate procedures in place designed to supervise their registered brokers and prevent them from engaging in any unauthorized activity.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker negligence and/or fraud. The truth is that investors who believe they 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 Stacy Elizabeth Cheney-Jamison, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.