James Royal Kirchner of Chicago, Illinois, a stockbroker formerly registered with David A. Noyes Company, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings of Kirchner falsifying documents concerning a customer’s purchase of a private placement while Kirchner was employed by David A. Noyes Company. Letter of Acceptance Waiver and Consent No. 2018060946701 (February 23, 2022).
According to the AWC, Kirchner altered a customer’s documents relating to a private placement purchase. The AWC states that the customer had already signed the documents, but their proposed purchase had been initially rejected. Kirchner’s altering of the customer’s documents to get the transactions approved showed that Kirchner violated FINRA Rule 2010.
FINRA Public Disclosure shows that Kirchner has been identified in ten customer initiated investment related disputes regarding accusations of his conduct while he was associated with David A. Noyes. On December 20, 2019, a customer initiated investment related FINRA securities arbitration claim regarding Kirchner’s activities was resolved for $15,000.00 in damages based upon allegations that margin had not been reasonably explained to the customer.
Another customer initiated investment related FINRA securities arbitration claim involving Kirchner’s conduct was settled for $165,000.00 in damages founded on accusations of unsuitable private placements sold to the customer during the time that Kirchner was associated with David A. Noyes Company. FINRA Arbitration No. 19-01397 (April 22, 2020).
Kirchner is also the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $145,000.00 in damages supported by allegations of unsuitable private placements for the customer at David A. Noyes between 2016 and 2017. FINRA Arbitration No. 20-00114 (April 22, 2020).
Another customer initiated investment related FINRA securities arbitration claim concerning Kirchner’s activities was settled for $50,000.00 in damages based upon accusations of unsuitable limited partnership interests or direct participation program interests because of Kirchner and David A. Noyes. FINRA Arbitration No. 19-01583 (April 22, 2020).
Kirchner is also referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $90,000.00 in damages based upon allegations of unsuitable alternative investment recommendations to the customer. FINRA Arbitration No. 20-00871 (April 22, 2020). The claim alleges that the customer sustained damages on DPPs or LPs.
Kirchner is identified in a different customer initiated investment related FINRA securities arbitration claim where the customer sought $50,000.00 in damages supported by accusations of Kirchner againt made unsuitable private placement recommendations to the customer while Kirchner was employed by David A. Noyes. FINRA Arbitration No. 20-02802 (October 16, 2020).
On September 29, 2021, another customer initiated investment related FINRA securities arbitration claim regarding Kirchner’s conduct was settled for $75,000.00 based upon allegations that Kirchner had the customer buy an unsuitable alternative investment, resulting in damages to the customer. FINRA Arbitration No. 20-02527.
Kirchner was associated with David A. Noyes between September 22, 2014, and December 19, 2018. He was registered with IFS Securities between January 4, 2019, and September 27, 2019, and with Cabot Lodge Securities between September 25, 2019, and March 3, 2020.
