Barred Broker: Former Ameritas Investment Corp. Broker James Anderson
Posted on Saturday, July 20th, 2019 at 11:58 am
Were you the victim of former Ameritas Investment Corp. broker James Anderson (CRD# 4803514)? Anderson has been registered with Ameritas Investment Corp. in Dakota Dunes, South Dakota from 2004 to 2019, when he was terminated regarding, “Upon conclusion of internal investigation, Registered Representative was found to have engaged in the sales of Indexed Annuities and Promissory Notes away from the firm.”
In June 2019, Anderson was barred by FINRA after he consented to the sanction and to the entry of findings that he refused to provide FINRA with requested documents and information during the course of an investigation into allegations that Anderson had engaged in the purchase and sale of securities away from his member firm, without the knowledge or approval of the firm.
In January 2013, FINRA investigated allegations against Anderson and it was found that he sold Indexed Annuities that were not listed on the Firm’s approved list. The transactions equaled to an undisclosed outside business activity, to which prompt/prior notice was not given to the Firm.
Anderson has been the subject of one customer complaint, according to his CRD report:
April 2019. “Claimant alleges unsuitable recommendation to purchase promissory note (selling away).” The customer is seeking $400,000 in damages and the case is currently pending.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Ameritas Investment Corp. may be liable for investment or other losses suffered by Anderson’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.