Stuart Blake Nichols of Birmingham Alabama a stockbroker formerly registered with Raymond James Associates Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Nichols failed to make an appearance before FINRA personnel and testify regarding accusations of his excessive trading in the accounts of customers of Raymond James Associates Inc. Letter of Acceptance Waiver and Consent No. 2018060875701 (Oct. 25, 2019).
According to the AWC, the investigation into Nichols’ trading was commenced by FINRA in October of 2019. The AWC reported that Nichols was instructed by FINRA to provide recorded testimony so that the regulator could determine if he effected excessive trades in customer accounts. FINRA received a response from Nichols’ legal counsel on October 3, 2019 in which it was made known to FINRA that the stockbroker received its request but would at no point testify in the investigation. FINRA found Nichols’ failure to make an appearance and testify as being violative of FINRA Rules 2010 and 8210.
Nichols’ employment with Raymond James Associates Inc. has been terminated as of December 12, 2018.
