Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 14, 2016 indicate that former Virginia-based Wells Fargo Advisors broker James McCormack has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. McCormack (CRD# 2677703).
James McCormack has spent nineteen years in the securities industry and was most recently registered with Wells Fargo Advisors Financial Network in Harrisonburg, Virginia (2007-2015). Previous registrations include Citigroup Global Markets in Harrisonburg, Virginia; Legg Mason Wood Walker in Baltimore, Maryland; and Scott & Stringfellow in Richmond, Virginia. He is currently not registered with any state or firm.
According to his BrokerCheck report, James McCormack has received one customer complaint, one pending customer complaint, and one FINRA sanction.
In July 2016 FINRA sanctioned James McCormack following allegations he failed to appear for requested on-the-record testimony in connection to an investigation “into the circumstances surrounding McCormick’s termination from his member firm and customer complaints against McCormick that the firm had reported to FINRA on McCormick’s Form U5.” He was permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.
In August 2016 a customer alleged James McCormack, while employed at Wells Fargo Advisors, participated in unauthorized and excessive short-term trading of A-share mutual funds and preferred stock. The customer is seeking unspecified damages in the pending complaint.
In 2011 a customer alleged James McCormack, while employed at Wells Fargo Financial Network, executed excessive trades and made unsuitable recommendations. The complaint settled in 2012 for $28,500.
If you or someone you know has lost money investing with James McCormack, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. We accept all cases on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.a