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James Maendel Has Received One FINRA Sanction

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James MaendelPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on August 1, 2017 indicate that former Michigan-based LM Kohn & Company broker/adviser James Maendel was recently sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Maendel (CRD# 3267760).

James Maendel has spent 17 years in the securities industry and was most recently registered with LM Kohn & Company in Troy, Michigan (2015-2017). Previous registrations include LPL Financial in Farmington Hills, Michigan; UBS Financial Services in Farmington Hills, Michigan; Comerica Securities in Southfield, Michigan; H&R Block Financial Advisors in Detroit, Michigan; and Prudential Securities in New York, New York. He has passed three securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination); Series 63 (Uniform Securities Agent State Law Examination); and Series 7 (General Securities Representative Examination). He is currently not registered with any state or firm.

According to his BrokerCheck report, James Maendel has received one FINRA sanction and was recently terminated from his former employer.

In July 2017 FINRA sanctioned him following allegations he “negligently caused his member firm to maintain inaccurate records with respect to forty-eight transactions in which a customer liquidated a prospectus product (defined to include open-end mutual funds, unit investment trusts (UITs), variable products, traded and non-traded real estate investment trusts (REITs), and structured products) to purchase another prospectus product.” FINRA’s findings state further: “Maendel caused forty-eight of the switch forms he submitted to the firm to contain inaccurate information about transaction costs. The findings also stated that on eleven occasions, the switch forms that Maendel personally prepared reflected that the transaction was solicited, but Maendel caused the transaction to be incorrectly recorded by a product-specific trading desk on the firm’s blotter as unsolicited.” He was issued a fine of $10,000 and a 45-day suspension which will begin on August 21, 2017.

In 2015 he was terminated from his position at LPL Financial following allegations of “short-term trading of unit investment trusts and inaccurate disclosures regarding unit investment trust transactions.”

In 2010 he voluntarily resigned from his position at UBS Financial Services “while under review regarding whether he recommended unsuitable use of margin in a client’s account and mismarked solicited orders as unsolicited on certain order tickets.”

If you or someone you know has lost money investing with James Maendel, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.