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Ex-Kestra Broker James Daughtry Barred Over Trading Allegations
James Daughtry (CRD# 3272282), formerly a representative of Kestra Investment Services in Dothan, Alabama, was recently sanctioned by the Financial Industry Regulatory Authority and barred over allegations he refused to cooperate with an investigation into whether he made potentially fraudulent and unauthorized trades.
According to a Letter of Acceptance, Waiver and Consent (No. 2020065293201) dated March 2020, FINRA sent James Daughtry a request on February 21, 2020 to provide on-the-record testimony in connection with its “investigation into potentially fraudulent and unauthorized transactions in several of [his] customers’ accounts.” The Letter notes that FINRA Rule 8210 empowers FINRA to require associated persons to provide information orally and to testify under oath with respect to matters under its investigation, and further that no person shall fail to provide testimony or information under that rule. The findings go on to state that during a March 3, 2020 telephone call, Daughtry’s counsel indicated to FINRA staff that Daughtry was in receipt of FINRA’s request for testimony but would not appear for such “at any time.” The Letter concludes that this refusal constituted a violation of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, Daughtry was barred from associating with any FINRA member firm in any capacity.
Daughtry’s BrokerCheck report also lists his March 2020 discharge from Kestra Investment Services. The allegations listed by the firm stated that he “violated FINRA Rules 8210 and 2010 and was bar[red] from associating with any FINRA member firm in any capacity.”
James Daughtry is currently not registered as a broker. His previous registrations include Kestra Investment Services, Ameriprise Financial Services, Securities America, Sterne Agee Financial Services, Wachovia Securities, Southtrust Securities, and Liberty Securities Corporation. He has passed four securities industry qualifying examinations and his BrokerCheck report lists zero state securities licenses. (Information current as of May 27, 2020.)