FINRA Bars Ex-Signator Advisor James Glover from Industry

By January 18, 2013 September 20th, 2017 News

Maryland-based financial advisor James Glover is barred from the industry, according to a Letter of Acceptance, Waiver and Consent (“AWC”) that Glover entered into with FINRA.

Glover was previously a broker with Signator Investors, Inc. from 1998 until his resignation in May 2012 amidst numerous allegations that he defrauded investors.

According to the AWC, “On November 15, 2012, during the course of an investigation into allegations that, while employed at the Firm, Glover had misappropriated funds from a Firm customer and conducted undisclosed outside business activities through which he sold unregistered securities products, Enforcement staff sent a letter to Glover, pursuant to FINRA Rule 8210 (the “November 15th Letter”), requiring him to appear and provide testimony on December 4, 2012. On November 28, 2012, in response to the November 15th Letter, counsel for Glover reported to FINRA staff that Glover would not appear and provide testimony. Glover did not appear for testimony on December 4, 2012.”

FINRA thereafter barred Glover from the industry relating to his failure to appear and participate in the investigation.

A review of Glover’s FINRA BrokerCheck report shows that Glover has settled more than 50 complaints filed against him since 2012, and that two complaints are pending.

Fishman Haygood attorneys recovered almost $1.6 million for California investors from Signator and investment advisor James Glover in a 2014 FINRA arbitration relating to investments in Colonial Tidewater, a private placement product. The FINRA award was detailed in news articles in the Wall Street Journal, Investment News, and the Baltimore Sun. Signator employee Gregory Mitchell also entered into a settlement with the SEC relating to allegations he failed to supervise two former financial advisors at the firm: Glover and Cory Williams.

Fishman Haygood represents investors who have suffered investment losses in claims against their brokers or financial advisors. Our experienced attorneys have brought securities fraud cases in state and federal courts across the nation, as well as in FINRA arbitration. We work to help investors recoup their losses.

Of course, all cases are different. For that reason, we analyze each client’s matter individually and provide our personalized evaluation only after considering all of the facts and circumstances of all possible claims. If you or someone you know is the victim of securities fraud, please contact a Fishman Haygood lawyer today.

 

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