James Francis Reid (CRD #2197427 Cypress, Texas)
was barred by FINRA for allegedly converting client funds for his own personal use by depositing cash and check insurance premiums, totaling more than $21,000, from clients of his member firm’s insurance affiliate into his personal checking account instead of applying the funds for the clients’ benefit.
FINRA's findings stated that Reid failed to appear and provide FINRA-requested testimony regarding to its investigation into allegations that he misappropriated customer premiums.
(FINRA Case #2013037842501)
James Reid was registered in the securities industry for 17 years and was previously registered with the following securities firms:
03/2004 - 08/2013 FARMERS FINANCIAL SOLUTIONS, LLC (CRD# 103863) - HOUSTON, TX
04/1993 - 06/2001 CHARLES SCHWAB & CO., INC. (CRD# 5393) - SAN FRANCISCO, CA
11/1992 - 02/1993 BARABAN SECURITIES, INC. (CRD# 7659) - LOS ANGELES, CA
This summation of information obtained on FINRA’s "Disciplinary and Other FINRA Actions February 2015," ends here.
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Soreide Law Group, PLLC, represents Insurance Fraud Victims in Federal Court, State Court and before the Financial Industry Regulatory Authority (“FINRA”).
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