James Thomas Walters II of Macon Georgia a stockbroker formerly employed by Edward Jones has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Walters neglected to provide a response to FINRA’s information request possibly concerning his termination from Edward Jones. FINRA Case No. 2018058353701 (Nov. 26, 2018).
FINRA Public Disclosure confirms that Walters was issued a Notice of Suspension by FINRA on August 22, 218 and issued a Suspension from Association letter on September 17, 2018. This came after Walters failed to cooperate with FINRA’s requests for Walters’ information. By the time of Walters’ suspension going into effect, FINRA warned him about his continued lack of compliance serving as a basis for FINRA to bar Walters from the securities industry. Apparently, Walters neglected to cooperate with FINRA’s requests by the deadline imposed. Consequently, FINRA barred Walters on November 26, 2018.
On April 23, 2018, Edward Jones terminated Walters supported by allegations that Walters took funds from a customer’s investment account without the customer having consented to the transaction, and used the customer’s funds for Walters’ own benefit. It is possible that FINRA requested information from the customer to determine if Walters converted the customer’s funds.
FINRA Public Disclosure also reveals that on September 14, 2018, a customer filed an investment related complaint regarding Walters’ activities in which the customer requested $138,852.00 in damages based upon accusations that the customer’s individual retirement account funds had been misappropriated by Walters between 2015 and 2018.
