Securities Arbitration Lawyers BlogShreveport, LA-based Raymond James & Associates Discharges Broker James Edward Lyons
Allegations of unauthorized trading surround Lyon’s discharge from member firm
After 34 years in the securities industry, former Raymond James & Associates broker James Edward Lyons is no longer registered with the Financial Industry Regulatory Authority (FINRA). According to his FINRA BrokerCheck report, Raymond James & Associates discharged Lyons in April 2017 due to allegations of unauthorized trading.
Unauthorized trading occurs when a broker purchases or sells securities in a non-discretionary customer account without prior customer authorization, and it is a FINRA sales practice violation. It occurs in accounts in which a customer has not received prior written discretionary authority from the customer to make transactions in the account.