Articles Tagged with James Schwartz

shutterstock_94127350-300x205According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker James Schwartz (Schwartz) has been subject to nine customer complaints, one tax lien, and one bankruptcy during his career.  Schwartz is currently not registered but was previously employed by Joseph Gannar & Co. LLC (Joseph Gunnar).  Many of the the customer complaints against Schwartz concern allegations of high frequency trading activity also referred to as churning and unsuitable investments.

In October 2018 a customer filed a complaint alleging that Schwartz violated the securities laws by engaging in breach of fiduciary duty, unsuitable investments, and negligence causing $32,871.30 in damages.  The claim is currently pending.

In May 2018 a customer filed a complaint alleging that Schwartz violated the securities laws by engaging in churning, unsuitable investments, unauthorized trading, and breach of fiduciary duty causing $150,000 in damages. The claim is currently pending.

In February 2018 a customer filed a complaint alleging that Schwartz violated the securities laws by engaging in unsuitable investments and unauthorized trading causing $1,694,099 in damages. The claim is currently pending.

In addition, Schwartz has one financial disclosure concerning a tax lien for $15,667 and declared bankruptcy in June 2017.  This information has been found to be material for investors to have because an advisor who cannot manage his own finances is a relevant factor for investors to consider.  In addition, a broker in financial distress may be influenced to recommend high commission products or strategies.

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