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James Good: ETF Investigation Against ProEquities Advisor
A pending state regulatory action against Camp Hill, Pennsylvania financial advisor James Good (CRD# 2466989) concerns investments in leveraged and inverse exchange-traded funds. Records maintained by the Financial Industry Regulatory Authority and the Securities and Exchange Commission indicate that the former ProEquities broker is currently registered as an investment advisor with WDC Advisors.
Mr. Good’s BrokerCheck report discloses the recent enforcement action against him. Initiated in April 2023 by the Commonwealth of Pennsylvania Department of Banking and Securities, the action alleges “improper use of leveraged and inverse ETFs” and remains pending. In a statement included with the disclosure, Mr. Good writes that he is “defending and appealing the allegations.”
The enforcement action against Mr. Good is not the only recent Pennsylvania Department of Banking and Securities action relating to allegations involving leveraged and inverse ETFs by a Pennsylvania-based advisor. In December 2022, the Department issued an order against Larry Letterio requiring him to show cause that sanctions should not be imposed for alleged violations of state securities law, stemming from the sales of ProShares inverse ETFs. The order alleged specifically that as the Chief Compliance Officer and owner of Altair Management Partners, he caused the recommendation of unsuitable transactions to certain customers, including customers over the age of 60 with conservative investment goals. Like the action against Mr. Good, this action remains pending.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, James Good holds 29 years of securities industry experience. Based in Camp Hill, Pennsylvania, he has been an investment advisor with WDC Advisors since 2020. His registration history includes Harvest Investment Services (Camp Hill, Pennsylvania; 2015-2021), ProEquities (1995-2018), Investment Advisors (2006-2016), and Pruco Securities (1994-1995). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is currently licensed in Pennsylvania. (Information current as of June 3, 2023.)
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