Eugene Arthur McAdams (also known as Eugene Arthur Mc Adams), of Center Moriches, NY, a stockbroker registered with Joseph Stone Capital LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because McAdams failed to testify when FINRA investigated the stockbroker for possible violations of FINRA rules with regard to the unsuitable trading of his customer accounts. Letter of Acceptance, Waiver, and Consent No. 2020066887801 (August 4, 2021).
According to the AWC, FINRA began an investigation into McAdams’s potential unsuitable investment recommendations during the time that he was associated with Joseph Stone Capital. In connection with the investigation, FINRA sent a request to McAdams to appear for testimony on July 7, 2021. On that same date, McAdams indicated to FINRA that he had received the requests but would not appear for testimony at any time. Therefore, McAdams violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that McAdams has been referenced in two customer initiated investment related disputes concerning McAdams’ conduct while associated with Milestone Financial Services Inc. On October 6, 2004, a customer initiated investment related complaint involving McAdams’ conduct was settled for $60,000.00 in damages based upon allegations that McAdams engaged in unauthorized trading in over-the-counter equities.
McAdams was also referenced in a FINRA securities arbitration claim that was settled for $20,000.00 in damages based upon allegations that McAdams engaged in excessive trading, made misrepresentations of material fact, committed fraud, breached his fiduciary duties, and committed elder abuse in connection with the sale of over-the-counter equities. FINRA Arbitration No. 18-02038 (May 15, 2019).
McAdams was associated with Joseph Stone Capital LLC in Center Moriches, NY, as a stockbroker from September of 2015 to June of 2020.
