On 3/2/2023, ERIC JAMES STONE, formerly with FIDELITY BROKERAGE SERVICES LLC of Jacksonville, Florida, was permanently barred by FINRA from acting as a broker or otherwise associating with a broker/dealer firm. Stone was previously registered both as a broker and as an investment adviser. He was with Fidelity from 02/18/2008 - 06/29/2021.
According to the FINRA report, without admitting or denying FINRA’s findings, ERIC JAMES STONE consented to the sanction and to the entry of findings that he failed to make a complete production of documents and failed to appear for on-the-record testimony requested by FINRA in connection with its investigation originating from a Form U5 filed by his member firm.
FINRA’s findings stated that the Form U5 disclosed that ERIC JAMES STONE had been discharged allegedly because of concerns related to loans he solicited and obtained from clients. Stone did not respond by the due date, but belatedly provided a statement that included some of the information sought by the FINRA request. Although Stone later provided additional information, he failed to provide substantially all of the information or any of the documents sought in the first request by the due date, and those materials remain outstanding.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, ERIC JAMES STONE, had been in the securities industry for 13 years and was listed with 1 firm. Stone has 6 Disclosures on his FINRA CRD report. One of the disclosures is an, “Employment Separation after Allegations,” dated 6/3/2021 discharging him from Fidelity Investments, following these allegations, “Allegation related to loans employee solicited and obtained from clients.”
Also on BrokerCheck, there is a “Customer Dispute” listed on ERIC JAMES STONE’s CRD report dated 9/25/2023. The allegations were, “Customer alleges that she loaned money to the former employee and that she has not been fully repaid.” The dispute settled for $38,400.00.
To discuss this or any other securities issues with and experienced securities lawyer, contact the Florida-based Soreide Law Group at: 888-760-6552.
Soreide Law Group represents our clients nationally before FINRA on a contingency fee basis.
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