FINRA Bars Scott Sibley For Unsuitable Trades: How Can I Recover My Investments?

You can recover Scott Sibley investment losses by calling our Chicago and Barrington, Illinois-based law firm at 312-332-4200 to speak with an attorney for a no-cost, no-obligation consultation. We sue firms like Raymond James, Sibley’s former firm, in the Financial Industry Regulatory Authority (FINRA) arbitration process on a contingency fee basis, which means we only make money if you recover yours. Please call today as there is a statute of limitations on most cases. Attorneys are standing by.
Scott Allen Sibley was recently barred from the securities industry by FINRA after allegedly making unauthorized trades for one customer, and making unsuitable recommendations to 10 customers and then creating false records of the trades, according to a recent InvestmentNews article. He was terminated from Raymond James, where he worked from November 2007 until February 2015, after the firm received multiple complaints that he allegedly used “unauthorized trading and improper use of time and price discretion.” In on instance, Mr. Sibley initiated 900 securities purchases and sales in the cutomer’s two accounts without authorization, knowledge or consent. 139 of these involved equity options where Sibley sold uncovered put option contracts or closed put options contracts without written authorization, causing a margin debt balance. The particular customer was 67 years and wanted to preserve his capital and general income. This is against securities laws.
According to his BrokerCheck report, Sibley was registered with Prudential Securities Inc., Salmon Smith Barney, Janney Montgomery Scott, Raymond James in Fort Lauderdale, Florida and Moors & Cabot. He has 17 customer disputes against him, two of which are currently pending. He has been permanently barred from the industry.