James Marten Lamont, of San Francisco, California, a stockbroker formerly registered with Whitehall Parker Securities Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $100,000.01 in damages supported by accusations that Lamont provided unsuitable recommendations to them as it pertained to real estate security products while Lamont was registered with Whitehall Parker. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01471 (June 30, 2021).
FINRA Public Disclosure shows that Lamont has been identified in thirteen more customer initiated investment related disputes regarding allegations of his misconduct when he was registered with Independent Financial Group, Parkland Securities, and Whitehall Parker Securities. Lamont is referenced in a customer initiated investment related arbitration claim which was resolved for $87,500.00 in damages founded on accusations of negligence and misrepresentation by Lamont concerning a tenant in common investment (TIC) during the time that he was associated with Parkland Securities.
On July 12, 2020, another customer initiated investment related arbitration claim regarding Lamont’s activities was settled for $40,000.00 in damages based upon allegations of the customer being sold an asset-backed debt investment away from Whitehall Parker Securities. FINRA Arbitration No. 20-00192. The claim alleges that the securities broker dealer should have been alerted to this transaction.
On February 26, 2021, an additional customer initiated investment related arbitration claim involving Lamont’s conduct was resolved for $17,500.00 in damages supported by accusations of unsuitable investments, including the purchase of a viatical settlement when Lamont was employed by Independent Financial Group. FINRA Arbitration No. 19-02991.
Lamont is also identified in a customer initiated investment related arbitration claim which was settled for $60,000.00 in damages founded on allegations of Lamont placing the customer in inappropriate securities, including real estate securities, direct participation program interests and limited partnership interests while he was registered with Whitehall Parker Securities and Independent Financial Group. FINRA Arbitration No. 20-01062 (Mar. 16, 2021).
FINRA Public Disclosure additionally shows that Lamont has been fined $10,000.00 and suspended for 18 months from associating with any FINRA member in any capacity based upon findings that he had solicited investors for private securities transactions during the time that he was associated with Whitehall Parker Securities. Letter of Acceptance, Waiver, and Consent No. 2017052705801 (October 2, 2019).
The AWC states that Lamont solicited customers’ purchases of promissory notes issued by Woodbridge Group of Companies. Lamont failed to inform Whitehall Parker that he sold Woodbridge products. In completing a firm-issued compliance questionnaire, he denied engaging in private securities transactions. Lamont violated FINRA Rules 2010 and 3280, as well as National Association of Securities Dealers (NASD) Rule 3040.
Lamont’s registration with Whitehall Parker Securities was terminated on October 31, 2019.