According to Finra, John S. Simpson (CRD#: 719367) has been barred from the securities industry. On October 25, 2016, in connection with FINRA’s investigation regarding the conduct that led to Simpson’s termination from RBC, FINRA staff sent a request to Simpson, through his counsel, for Simpson’s on-the-record testimony.
As stated in his counsel’s correspondence with FINRA staff on November 8, 2016, and by his agreement, Simpson acknowledges he received FINRA’s request and will not appear for on-the-record testimony at any time. By refusing to appear, Simpson consents to a bar from association with any FINRA member firm in any capacity.
For FINRA’s full finding see FINRA case # 2016049917701.
According to FINRA Broker Check, Simpson was registered with RBC Capital Markets in Hunt Valley, MD from 03/2009 – 02/2016. He has 9 disclosures listed on his broker report, and was discharged from RBC in January 2016 for violating firm policy on use of discretion in customer accounts.
Other allegations listed include unsuitability, unauthorized investments and over-concentration in risky oil and gas investments.
Brokerage firms are required to properly supervise all advisors they employ and to ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Simpson’s former employer failed to properly supervise him, his employer may be held responsible for the losses in a FINRA arbitration claim.
If you suffered losses investing with John S. Simpson and would like a free consultation to discuss your litigation options, please call The White Law Group at 1-888-637-5510.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
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