Did you or someone you know lose money with John James and Merrill Lynch? Mr. James was barred from the securities industry by the Financial Industry Regulatory Authority (FINRA) after he failed to respond to an investigation against him. He allegedly engaged in undisclosed outside business activities and private securities transactions, without disclosing these to Merrill Lynch, his firm at the time. James was also alleged to have borrowed money from clients, which is not allowed in the securities industry. Merrill Lynch can be held liable for losses on a contingency fee basis in the FINRA arbitration forum, as the firm did not reasonably supervise Mr. James while he was registered there.
According to his online, public BrokerCheck record with FINRA, Mr. James was previously registered with Piper Jaffray in Wayzata, Minnesota from January 2003 until June 2006, Merrill Lynch in Wayzata from June 2006 until March 2016 and Stifel, Nicolaus in Golden Valley, Minnesota from March 2016 until September 2016. He has one customer dispute against him, alleging unsuitable investment recommendations, and is not currently registered as a broker within the industry.