FINRA found that Eric Kleiner (CRD 4135180) refused to provide documents and information it requested during an investigation. Without admitting or denying the findings, Kleiner consented to the sanction and to the entry of findings.
James Simmons (CRD 2438224) says he is not a respondent in a pending arbitration that appears on his BrokerCheck report. A claimant filed it on September 15, 2026, and the disclosure names Alexander Capital as the firm. The allegations are unproven, and no arbitrator has ruled on them. His statement disputes the claimant's account.
According to BrokerCheck, the claimant alleges violations of state and federal securities regulations and FINRA rules. The claim adds negligence, breach of fiduciary duty and failure to protect assets.
The claim on James Simmons' report seeks $19,000,000 in damages under docket number 26-01953. It is still pending.
Simmons answered in a statement on BrokerCheck. He wrote that he had reviewed the allegations in the statement of claim. While he is not a respondent, he said, "the narrative presented is inaccurate and fundamentally flawed."
James Simmons went further than that. "The events did not occur as alleged," his statement reads. He called the assertions about his involvement without merit, unsubstantiated and contradicted by the factual record. Any implication of wrongdoing on his part, he wrote, "is entirely baseless."
A breach of fiduciary duty claim says an adviser owed a customer loyalty and care, then fell short. A failure to protect assets claim usually focuses on safeguarding the account itself. Both theories appear in the claim on James Simmons' report.
These claims often turn on the role each person played in the account. When we review a claim like this, we start with the account statements and the firm's own records of account activity. Those papers tend to show who did what, and when.
The older dispute on James Simmons' report began on March 13, 2003, at FSC Securities. The customer alleged that the representative sold unsuitable bonds. That customer sought $500,000 in damages.
The dispute settled on March 16, 2004 for $275,375.
Brokerage firms have a duty to supervise the brokers who work for them. If James Simmons handled your account and you have questions, Soreide Law Group can go over it with you. Call (888) 760-6552 or contact us online. Because these claims go to FINRA arbitration rather than a local court, we handle them for investors nationwide. We work on a contingency fee basis. Here is how FINRA arbitration works.
This post summarizes public FINRA records, including BrokerCheck, as of October 21, 2026. Allegations in customer complaints and arbitrations are claims, not findings. Pending claims remain open and undecided. A settlement is also not an admission of wrongdoing. FINRA may also update or correct these records after that date.
FINRA found that Eric Kleiner (CRD 4135180) refused to provide documents and information it requested during an investigation. Without admitting or denying the findings, Kleiner consented to the sanction and to the entry of findings.
James Simmons (CRD 2438224) says he is not a respondent in a pending arbitration that appears on his BrokerCheck report. A claimant filed it on September 15, 2026, and the disclosure names Alexander Capital as the firm. The allegations are unproven, and no arbitrator has ruled on them. His statement disputes the claimant's account.
Diana Leon's BrokerCheck report shows a $700,000 settlement of a structured note arbitration in September 2026. Leon's CRD number is 4857407. The disclosure names Woodbury Financial as the firm, as do the other disputes on her report. Each involves structured notes, and each settled in September 2026.
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