According to digital records maintained by the Financial Industry Regulatory Authority (FINRA), former New York City broker Andrew Davis (CRD#...Read More
Boston Rep James Baker: Complaint Alleged $20M Losses
Financial Industry Regulatory Authority (FINRA) records indicate that JP Morgan Securities broker James Baker (CRD# 5651660) recently received a customer complaint, since denied by the firm, regarding alleged misrepresentations in connection to an investment. Baker is based in Boston, Massachusetts.
The denied complaint against James Baker was filed in February 2021. It alleged that around October 2015, he misrepresented material facts pertaining to an investment in a management account. “Misrepresentation” refers to the requirement under FINRA rules that brokers refrain from inaccurately representing material facts concerning an investment, such as its risks, in such a way that might cause investors to make an investment unsuitable for their profile. The customer sought $20 million in damages in the complaint, which was denied by the firm.
In a statement about the complaint, Baker said in part: “These claims lack merit and the allegations are disputed. The client is a highly sophisticated investor with 30+ years of investment experience, including with the specific investment noted in this complaint… The Firm has provided a written response to these claims disputing them.”
James Baker has been registered as a broker with JP Morgan Securities in Boston, Massachusetts since August 2010. He has no previous registrations. He has passed three securities industry qualifying examinations: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. His BrokerCheck report lists 53 state securities registrations (including Puerto Rico, the Virgin Islands, and the District of Columbia), as well as 19 self-regulatory organization registrations, including: BOX Exchange LLC, Cboe Exchange Inc., FINRA, Investors’ Exchange LLC, Long-Term Stock Exchange Inc., MEMX LLC, MIAX Emerald, NYSE American LLC, NYSE Chicago, NYSE National, Nasdaq BX, Nasdaq GEMX, Nasdaq Stock Market, and the New York Stock Exchange. (Information current as of June 6, 2021.)