James Goodland: One Regulatory Sanction

James GoodlandPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on January 23, 2017 indicate that Minnesota-based Spire Securities broker/adviser James Goodland has been permanently barred by the Securities and Exchange Commission (SEC) from engaging in certain activities. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Goodland (CRD# 2385266).

James Goodland has spent 22 years in the securities industry and has been registered with Spire Securities in Plymouth, Minnesota since 2015. Previous registrations include NFP Advisor Services in Plymouth, Minnesota; Cambridge Investment Research in Plymouth, Minnesota; Washington Square Securities in Des Moines, Iowa; Berthel Fisher & Company in Cedar Rapids, Iowa; Commonwealth Equity Services in Waltham, Massachusetts; and Pruco Securities in Newark, New Jersey. He is a registered broker and investment adviser with six US states: Arkansas, California, Florida, Texas, Wisconsin, and Wyoming.

According to his BrokerCheck report, James Goodland has received one customer complaint and one regulatory sanction.

In 2015 the SEC sanctioned James Goodland following allegations that “From January 2010 through July 2013, an investment adviser registered with the Commission, and Goodland, its President and Chief Compliance Officer, failed reasonably to supervise an investment advisory representative associated with the investment adviser whom Goodland directly supervised.” The complaint goes on to state: “The investment adviser and Goodland also failed to adopt and implement an adequate system of internal controls with a view toward preventing and detecting violations of the Advisers Act. The investment advisory representative willfully violated the antifraud provisions of the Exchange Act and willfully aided and abetted and caused the investment adviser’s violations of the Advisers Act… Goodland failed adequately to respond to red flags concerning the investment advisory representative’s conflicts of interest, his unusual trading in client accounts and his numerous emails with a company insider. In particular, Goodland failed to complete required email reviews or adequately monitor the investment advisory representative’s trading in the company’s stock.” Mr. Goodland was issued a cease and desist order and a fine of $30,000.

In 2013 a customer alleged James Goodland, while employed at Cambridge Investment Research, misrepresented material facts, made unsuitable recommendations, and failed to supervise. The complaint settled for $250,000.

If you or someone you know has lost money investing with James Goodland, also known as Greg Barker, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: 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.