Aegis Capital Corp., was barred following allegations of churning four client accounts.AMES BRADLEY SCHWARTZ (JIM SCHWARTZ) CRD#: 3043085 was barred by the Financial Industry Regulatory Authority Inc. (FINRA) from acting as a broker or otherwise associating with a broker-dealer firm. Schwartz, a broker formerly with
According to FINRA, JAMES BRADLEY SCHWARTZ, was associated with Aegis from June of 2013 through June of 2016. Allegedly, Schwartz engaged in 256 trades in the accounts of four clients without first obtaining authorization from these clients for the trades. In total, he made 535 trades in the clients’ accounts resulting in combined losses of more than $660,000. However, Jim Schwartz generated gross sales credits and commissions of approximately $277,705, of which Schwartz received more than $194,000.
The FINRA complaint alleged that JAMES BRADLEY SCHWARTZ conducted fraudulent and deceptive trading by exercising de facto control over the clients’ accounts and engaged in unauthorized trading. Allegedly, Schwartz executed trades with a total principal value of approximately $10 million without his clients’ authorization, including unauthorized trades he executed in a client’s account after the client had died.
According to FINRA’s BrokerCheck, JAMES BRADLEY SCHWARTZ has 12 Disclosures on his report. Of the 12 Disclosures, 9 are Customer Disputes. A number of the disputes have settled resulting in hundreds of thousands of dollars in recovery for the clients. Some of the allegations in the disputes that settled were: unsuitable investment recommendations, unauthorized trading, negligence, negligent supervision, federal securities law violations, breach of fiduciary duty and excessive trading.
JAMES BRADLEY SCHWARTZ was registered in the securities industry for 18 years and was listed with 14 firms. The most recent are listed below:
12/09/2016 – 02/28/2017 JOSEPH GUNNAR & CO. LLC – NEW YORK, NY
06/06/2016 – 12/09/2016 FIRST STANDARD FINANCIAL COMPANY LLC – GARDEN CITY, NY
06/06/2013 – 06/30/2016 AEGIS CAPITAL CORP – MELVILLE, NY
If you’ve suffered financial losses due to the actions or recommendations of the former Aegis Capital broker, JAMES BRADLEY SCHWARTZ of New York, contact Soreide Law Group and speak to a securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at: 888-760-6552.
Soreide Law Group works on a contingency fee, no fee to you if no recovery, and we represent our clients nationwide before FINRA.