James Harry MacKellar of Newbury Park, California, a stockbroker registered with SagePoint Financial Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because MacKellar refused to provide information or documents requested by FINRA. Letter of Acceptance, Waiver, and Consent No. 2023078203401 (May 1, 2024).
On June 7, 2023, SagePoint filed a Form U5 informing FINRA that MacKellar engaged in unauthorized activities regarding a customer’s estate.
According to the AWC, a complaint was submitted to FINRA on March 16, 2023, about MacKellar’s alleged outside business activities involving a customer’s estate and his interest in that customer’s accounts. On April 10, 2024, in connection with its investigation, FINRA requested MacKellar to produce information or documents. MacKellar acknowledged receipt of the request but refused to produce the information or documents. Therefore, he violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure also shows that on August 22, 2022, a customer filed an investment related complaint involving MacKellar’s conduct in which the customer requested compensatory damages based upon allegations that it was improper for his spouse to be named executor and a beneficiary of the customer’s trust during the time that MacKellar was associated with Sagepoint Financial Inc.
MacKellar was associated with Sagepoint Financial Inc. in Newbury Park, California, from October 31, 2008, to June 7, 2023.
