James Anderson Martin (also known as Jamie Martin), of Jacksonville, Illinois, a stockbroker formerly registered with Berthel Fisher Company Financial Services Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Martin refused to provide documents and information requested by FINRA during an investigation. Letter of Acceptance, Waiver, and Consent No. 2024082753901 (September 20, 2024).
Under FINRA Rule 8210, the regulator can require stockbrokers to provide documents, information, and testimony during an investigation. If someone refuses to provide this information, it is considered a violation of FINRA’s rules. Violating Rule 8210 automatically leads to a violation of Rule 2010.
On July 11, 2024, Martin was terminated by Berthel Fisher when a client contacted the firm verbally to inform that the rep had an outstanding loan past due with them. According to the AWC, on August 2, 2024, FINRA asked Martin to provide documents and information regarding an investigation related to this customer loan. Even though Martin acknowledged receiving this request on September 9, 2024, he refused to submit the requested materials. Since FINRA needed his cooperation to conduct its investigations, Martin’s refusal violated both FINRA Rule 8210 and Rule 2010.
Martin was associated with Berthel Fisher Company Financial Services Inc. in Jacksonville, Illinois, from March 31, 2003, to July 11, 2024.
