Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

FINRA Bars Former Raymond James Broker for Refusing Testimony in Unauthorized Trading Probe

Posted on May 7th, 2026 at 12:34 PM
FINRA Bars Former Raymond James Broker for Refusing Testimony in Unauthorized Trading Probe

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï

A former registered representative with Raymond James has been barred from the securities industry after refusing to cooperate with a Financial Industry Regulatory Authority (FINRA) investigation into alleged unauthorized trading activity.

According to findings reported by ThinkAdvisor, FINRA initiated its inquiry after allegations surfaced that the broker executed trades in his wife's IRA without authorization and signed her name on documents to transfer funds from the account. The firm ultimately discharged the representative in December 2024, citing unauthorized activity and improper documentation.

ThinkAdvisor reports that FINRA requested on-the-record testimony under Rule 8210 as part of its investigation. The representative declined to appear for testimony, a decision that carries significant consequences under FINRA rules. When a registered individual refuses to provide requested information or testimony, FINRA treats the refusal as a violation that typically results in a permanent bar from the industry.

The underlying customer complaint came from the broker's spouse, who sought damages exceeding $72,000. According to ThinkAdvisor, the matter concluded with a settlement of approximately $79,000, and the representative repaid the funds at issue.

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, finra enforcement, unauthorized trading, broker misconduct, regulatory investigation, securities law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

You are the best attorneys in the country.

CC

LATEST NEWS AND ARTICLES

1783434190 Law
July 7, 2026
Private Credit Funds Face Mounting Redemption Pressure as Investor Sentiment Shifts

A surge in investor redemption requests has intensified pressure on private credit funds, raising concerns about liquidity and long-term stability across the asset class, as reported by The Wall Street Journal.

1783357679 Law
July 6, 2026
Schwab Imposes New Limits on Tax-Aware Long-Short Investment Strategies

Charles Schwab Corp.

1783012078 Law
July 2, 2026
Financial Services Institute Backs New Jersey Bill Protecting Independent Advisor Model

The Financial Services Institute (FSI) has urged New Jersey lawmakers to advance legislation that would help preserve the independent contractor status of financial advisors operating in the state.