Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on September 2, 2016 indicate that former Florida-based UBS Financial Services broker James Scullin has been sanctioned by FINRA. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Scullin (CRD# 1577362).
James Scullin has spent four years in the securities industry and was most recently registered with UBS Financial Services in Coral Gables, Florida (2011-2014). He was previously registered with Mosely Securities (1986-1988). He is currently not registered with any state or firm.
According to his BrokerCheck report, James Scullin has received one regulatory sanction and one customer complaint, and was discharged from his position at UBS Financial Services.
In May 2016, FINRA sanctioned James Scullin following allegations he executed an unauthorized trade for a customer for whose accounts he did not have discretionary authority. According to FINRA’s complaint, Mr. Scullin “placed the trade of over $5,000,000 without informing the individuals with authority to place trades in the account or seeking their authorization,” and “concealed the unauthorized trade” when confronted by one of the individuals with authority over the account. FINRA also alleged that “when Scullin’s member firm questioned him about the trade, he initially concealed the fact that it was unauthorized, but later admitted to the firm that the trade was not authorized.” He was issued a nine-month suspension and a fine of $15,000.
In 2014, a customer alleged James Scullin, while employed at UBS Financial Services, engaged in unauthorized trading and charged excessive commissions. The complaint settled in June 2016 for $2,000,000.
In 2014, James Scullin was terminated from UBS Financial Services following allegations he “actively traded in an undisclosed commodities account outside UBS,” “exercised discretion without written authorization in violation of firm policy,” and “entered an unauthorized trade.”
If you have lost money investing with James Scullin, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis, which means we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.