FINRA Revokes James Lamont's Securities Registration

Investor Alert! The Financial Industry Regulatory Authority (“FINRA”) reports alarming information in regard to securities broker James Marten Lamont [CRD#: 2846228, San Francisco, California], who worked for securities firms Independent Financial Group (2006 to 2015) and Whitehall-Parker Securities (2015 to 2019). Evidently, FINRA revoked Lamont’s registration on March 13, 2020 for failing to pay a fine associated with a 2019 disciplinary action regarding Lamont’s unauthorized sales of Woodbridge Group of Companies (“Woodbridge”) promissory notes. Also, at least 12 clients raised serious concerns about the securities broker. In sum, these disclosures suggest that Lamont sold unsuitable and unauthorized investments and that he caused investors to experience losses. Read on to learn more about securities broker James Lamont.

FINRA Revokes James Lamont’s Securities Registration

Evidently, in a Letter dated March 13, 2020, FINRA revoked James Lamont’s securities registration. It appears that the securities broker did not pay $99,437.64 in fines or costs resulting from a FINRA disciplinary action which mainly alleged that Lamont violated its rules by selling away.

FINRA Sanctions Lamont For Private Securities Transactions

Notably, on October 2, 2019, FINRA executed Acceptance, Waiver and Consent (“AWC”) #: 2017052705801 sanctioning Lamont. Specifically, FINRA suspended him from November 4, 2019 to May 3, 2021 for violating FINRA rules. The financial industry watchdog also issued him a $10,000 fine while ordering him to disgorge $81,417 in gains he received from selling $1,467,000 in Woodbridge promissory notes to investors without permission from Whitehall-Parker. In addition, Lamont apparently falsely told Whitehall-Parker that he was involved in an outside business activity instead of a private securities transaction.

California Department of Business Oversight Sanctions James Lamont

Apparently, California Department of Business Oversight on October 30, 2018 ordered James Lamont to cease and desist selling unregistered securities. Allegedly, Lamont offered or sold Woodbridge “real estate based loan instruments.” The California securities regulator indicated that he sold these unregistered securities to California investors.

Whitehall-Parker Client Indicates Lamont Caused Losses On Woodbridge Notes Sales

Evidently, a client of Whitehall-Parker Securities brought FINRA Arbitration #: 20-00192 on February 1, 2020. Mainly, the client indicated that Lamont sold unregistered securities to the client behind Whitehall-Parker’s back. It appears that the client sustained losses after Woodbridge filed for bankruptcy. Apparently, this matter is ongoing.

Independent Financial Group Client Suggests James Lamont Sold Unsuitable Investments

Also, on October 28, 2019, an Independent Financial Group client filed FINRA Arbitration #: 19-02991 concerning James Lamont. Mainly, the client indicated that Lamont sold unsuitable investments. It appears that Lamont sold an unreasonable viatical settlement. Apparently, the client alleged $99,500 in damages because of the actions of Independent Financial Group or Lamont. Evidently, this arbitration is pending a resolution.

Did James Lamont Sell You Bad Investments?

Have you experienced losses by investing with James Lamont? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of securities firms and brokers like Lamont.