Soreide Law Group (888-760-6552) represents clients nationwide before FINRA. We obtained the following information from FINRA’s April 2017 Disciplinary Report:
James David Calder II (CRD #4022637, Borger, Texas)
was assessed a deferred fine of $15,000 and suspended by FINRA for six months for allegedly engaging an undisclosed outside business activity by participating in the sale of life settlement contracts to clients of his firm (Raymond James Financial) after it had expressly denied his request to participate in such activity.
FINRA’s findings stated that Calder recommended life settlement investments to the clients, and when they expressed interest in investing, he referred them to his wife to make their investments.
According to FINRA, Calder further facilitated the clients’ investments by answering their questions about life settlement investments and providing them with the necessary paperwork to make the investments. The clients dealt exclusively with Calder, not his wife, in connection with making their life settlement investments. Calder and his wife received into a joint bank account $8,925 in commission payments for life settlement sales.
The suspension is in effect from February 6, 2017, through August 5, 2017.
(FINRA Case #2016048601901)
According to FINRA’s BrokerCheck, James David Calder II has 2 disclosures on his report, has had 16 years of experience in the securities industry and was listed with 2 firms, the most current listed below:
08/28/2002 - 03/22/2016 RAYMOND JAMES FINANCIAL SERVICES INC - BORGER, TX
If you experienced losses due to James David Calder II’s actions, recommendations or lack of supervision, contact Soreide Law Group and speak to a securities lawyer at no cost regarding the possible recovery of your financial loss at: 888-760-6552.
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