FINRA bars Chandler AZ broker Eddie Sitton

Eddie Sitton, a registered representative formerly with several broker dealers in Scottdale and Tempe was suspended from FINRA membership for violations of Rule 9554

FINRA Rule 9554. Failure to Comply with an Arbitration Award or Related Settlement or an Order of Restitution or Settlement Providing for Restitution

provides that a registered representative or a firm that fails to comply with a FINRA arbitration award or a settlement agreement entered into as a result of a FINRA arbitration or mediation proceeding, shall have their license suspended 21 days after notice of the intent to suspend has been sent. In September, 2015 Eddie Sitton was suspended from FINRA membership for violating Rule 9554.

Eddie Sitton’s registration and disciplinary history

In order to lawfully sell investments to the public, one must either be registered or exempt from registration

Eddie Sitton was registered with the following firms:

04/2012 – 07/2013
MORGAN STANLEY (CRD# 149777) – TEMPE, AZ
02/2010 – 04/2012
RAYMOND JAMES & ASSOCIATES, INC. (CRD# 705) – SCOTTSDALE, AZ
02/2007 – 02/2010
RBC CAPITAL MARKETS CORPORATION (CRD# 31194) – SCOTTSDALE, AZ
11/2002 – 03/2007
UBS FINANCIAL SERVICES INC. (CRD# 8174) – SCOTTSDALE, AZ
06/1995 – 11/2002
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD# 7691) – NEW YORK, NY
07/1993 – 06/1995
SMITH BARNEY INC. (CRD# 7059) – NEW YORK, NY
02/1988 – 07/1993
LEHMAN BROTHERS INC. (CRD# 7506) – NEW YORK, NY
01/1988 – 02/1988
E. F. HUTTON & COMPANY INC (CRD# 235)
05/1984 – 01/1988
PRUDENTIAL-BACHE SECURITIES INC. (CRD# 7471)
05/1984 – 02/1985
FPI SECURITIES, INC. (CRD# 10280)

According to FINRA’s CRD disclosure report, Eddie Sitton has been the subject of four customer complaints and two regulatory investigations.

The Law Office of David Liebrader practices exclusively in the field of investment loss recovery and our securities attorneys have successfully resolved over 1000 investment loss cases over the past 20 years. Recoveries for clients top $40 million. The types of claims we have successfully handled include those involving unsuitable investments (suitability claims), excessive trading or “churning”, misrepresentations and omissions, unauthorized trading, over-concentration of illiquid or overly risky investments, pump and dump scams involving “penny stocks”, direct participation programs (private placements) involving real estate investment trusts (REITS), oil and gas exploration programs, leasing equipment deals and receivable financing, promissory notes whether sold through a broker dealer or as part of the outside business activities of a registered representative, ponzi scheme losses, failure on the part of the broker dealer to perform due diligence, state securities law (blue sky) violations and failure to supervise.

Investment losses can be recovered through a process known as FINRA arbitration. FINRA regulates broker dealers that sell investments, and provides an arbitration forum to resolve investor disputes. Investors can pursue claims against their brokerage firms in the FINRA arbitration forum. Common claims in the forum are those for suitability, breach of fiduciary duty, misrepresentations and omissions, negligence, violation of FINRA rules, state and federal securities laws violations, elder abuse, breach of contract and failure to supervise. On average, the recovery process takes approximately a year, from start to finish.

FINRA’s rules require that all investment recommendations made by licensed financial advisors be suitable in light of a customer’s needs, objectives and risk tolerance. In addition, all registered representatives are required to be properly supervised, with periodic inspections and reviews by qualified supervisors, whose job it is to vigorously investigate suspicions of wrongdoing (red flags).

If you have suffered investment losses please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation