Stoltmann Law Offices is investigating former Questar Capital broker James Fleming, who was sanctioned by the Financial Industry Regulatory Authority (FINRA). Allegedly, Fleming “repeatedly recommended that two customers purchase unit investment trusts (UITs) and then sell them well before their maturity dates. The UITs that Fleming recommended had maturity dates of 24 months or longer and carried significant sales charges. On 177 occasions, Fleming recommended that his customers sell their UIT positions within eight months of their purchase. The holding period for the UITs ranges from between 235 days, with an average holding period of only 96 days. Fleming’s recommendations caused the customers to incur unnecessary sales charges and were unsuitable in view of the frequency and cost of the transactions.” He also allegedly made unsuitable investment recommendations. All of these things are against securities laws. If you suffered losses with James Fleming and would like to find out how to sue Questar in the FINRA arbitration forum on a contingency fee basis, please call us today. We only make money if you recover yours.
According to his online BrokerCheck with the Financial Industry Regulatory Authority (FINRA), Mr. Fleming was previously registered with IDS Financial Services, IDS Life Insurance Company, American Express Financial Advisors, Robert Thomas Securities, First Union Capital Markets, Wachovia Securities, Investors Capital Corp and Questar Capital Corp in Worcester, Massachusetts from July 2016 until July 2017. He has three customer disputes against him, one of which is currently pending. He is not registered within the industry and has been suspended.
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