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James Paul Siemonsma, of Omaha, Nebraska, a stockbroker registered with ProEquities Inc., was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $150,000.00 in damages based upon the alleged unsuitable investment recommendation of oil and gas investments when Siemonsma was associated with ProEquities Inc. FINRA Arbitration No. 24-00378 (July 30, 2024).
This is not the first time that Siemonsma has been referenced in a customer initiated investment related dispute concerning Siemonsma’s conduct in the securities industry. FINRA Public Disclosure shows that Siemonsma was also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $11,301.69 in damages based upon alleged unsuitable recommendations of oil and gas investments (Atlas Growth Partners LP) during the time that Siemonsma was associated with Concourse Financial Group Securities Inc. FINRA Arbitration No. 22-01583 (June 1, 2023).
Siemonsma was associated with ProEquities Inc. in Omaha, Nebraska, from October 5, 2007, to October 11, 2017. He was associated with MSEC LLC in Omaha, Nebraska, from September 29, 2017, to December 22, 2023.