James Simpson, Formerly with Equitable (AXA) Advisors, Already Facing Federal Fraud Charges, Now Barred by FINRA
TOLEDO, OHIO
Have you lost money with financial advisor James Simpson, formerly with Equitable Advisors (previously AXA Advisors) in Toledo, Ohio? We are continuing to look into allegations made against James Earl Simpson. In November 2021, Simpson was barred from the securities industry by FINRA. FINRA barred Simpson after he failed to respond to its investigation concerning his recent fraud charges.
In September 2021, Simpson was charged with fraud by the U.S. Attorney’s Office for the Northern District of Ohio. Simpson was alleged to have misappropriated $400,000. Simpson was “permitted to resign” by Equitable Advisors in August 2021. It was alleged that Simpson misappropriated client funds and allegedly sold an unsuitable annuity.
James Simpson was with Equitable Advisors (formerly AXA Advisors) from 1980 to August 2021. He has worked at branch offices in Toledo, Ohio. Simpson was also the subject of two customer complaints.
Brokerage firms like Equitable Advisors have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Ohio. Our attorneys have represented over one thousand investors against many brokerage firms in the past.