The Financial Industry Regulatory Authority (FINRA) is a non-profit organization and regulatory agency that helps protect investors. FINRA enables investors to learn more about the financial brokers, advisers and brokerage firms that they are doing business with by providing information about their background, experience, and any regulatory actions.
According to FINRA BrokerCheck, James F. Anderson (now a previously registered broker) was recently discharged from his employer, Ameritas Investment Corp. Anderson (CRD#: 4803514) had been employed with Ameritas for 14 years when an internal investigation found that he had “engaged in the sales of Indexed Annuities and Promissory Notes away from the firm.” Anderson was discharged on February 11, 2019, and is no longer a licensed broker according to the information available through FINRA.
Anderson was also subject to regulatory sanction on January 1, 2013, when an investigation initiated by FINRA found that he had “sold Indexed Annuities that were not listed on the Firm’s Approved list.” According to publicly available documents, Mr. Anderson did not disclose the outside business activity to Ameritas and was required to complete a compliance conference.
Financial advisors and stockbrokers have a fiduciary duty to their clients and must comply with state and federal law. Failure to comply with such laws can result in sanctions, employment termination, and civil liability. If you believe that you have suffered damages as a result of the misconduct of your financial advisor or purchased annuities or promissory notes from James F. Anderson, you may be able to recover damages through a FINRA securities arbitration claim against Ameritas Investment Corp. Contact Levin Law immediately at (305) 402-9050 or firstname.lastname@example.org for a free case consultation.