James Stuart Barred As Securities Broker

FINRA expelled securities broker James Brett Stuart (also known as Bradley Lee Thompson) [CRD: 3022149, Castle Rock, Colorado], according to Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, James Stuart worked for Richfield Orion International Inc. from December 10, 2007, to November 3, 2022. Here’s more about the securities broker’s disclosures.

James Stuart Committed Supervisory Failures, FINRA Found

Evidently, FINRA issued Case: 2019062948102 on April 9, 2024, barring James Stuart. Allegedly, Stuart failed to create and control a supervisory system for compliance with the Care Obligation of Rule 15l-1 of the Securities Exchange Act of 1934 (Reg BI) as well as FINRA Rule 2111, as those rules pertain to excessive trading.

The complaint alleges that Stuart, who was responsible for supervisory procedures, did not address Reg BI and did not describe how the firm should identify or respond to issues surrounding possible excessive trading.

Supposedly, Stuart also failed to reasonably supervise trading in client accounts. He did not review alerts received by his firm showing that the accounts had been charged high commissions. Also, the regulator stated that he did not take any steps to determine whether frequent and high-cost trades in the accounts fit with the clients' investment profiles.

Supposedly, Stuart's failure to act on warnings of excessive trading resulted in investor losses. For example, one client's account had total costs of approximately $236,500 and incurred losses of $368,159.

Stuart Failed To Testify In Investigation

Additionally, Stuart failed to appear for on-the-record testimony that FINRA requested as part of its investigation into his supervision of a securities broker. Initially, Stuart appeared for on-the-record testimony but requested a pause during the course of that testimony. FINRA agreed to reschedule the testimony to a later date and issued requests for Stuart to appear again to complete his testimony. However, Stuart failed to appear.

Did You Sustain Losses Because Of Securities Broker James Stuart?

Suffered losses because of any sales practice violation by financial advisor / securities broker James Stuart? If so, get in touch with Soreide Law Group online or at (888) 760-6552 so you can talk to a securities attorney about your legal options. Soreide Law Group has recovered losses for investors throughout the United States, represents investors through contingency fees, and advances all costs. Stuart and brokerage firms Stuart worked for deny any allegations of sales practice violations.