Finra has barred a Kestra financial advisor for failing to appear for testimony for an investigation into potentially fraudulent activity, the industry’s self-regulator says.
On February 21, Finra had requested that James Blake Daughtry appear for an on-the-record testimony for its probe into “potentially fraudulent and unauthorized transactions” in several of his clients’ accounts, according to a letter of acceptance, waiver and consent.
Through his counsel, Daughtry allegedly acknowledged the receipt of Finra’s request on March 3 and told Finra he would not appear for the testimony, for which the industry’s self-regulator barred him from the industry, Finra says.
Daughtry consented to the bar without admitting or denying Finra’s findings, according to the letter of acceptance.
Daughtry’s registration with Kestra ended the same day Finra published its letter of acceptance — March 18 — according to BrokerCheck.
The former broker, who began his financial services industry career in 1999, had been registered at six different firms before joining Kestra in February 2015, according to BrokerCheck. He has no other disciplinary history with the SEC, any state securities regulators, Finra or any other self-regulatory organizations, Finra says.
The coronavirus has infected close to 250,000 people and killed more than 10,450 around the world as of Friday afternoon, according to Reuters. In the U.S., at least 12,392 people have tested positive for the virus and at least 195 have died, according to the New York Times.
Alabama, where Daughtry has been registered during the duration of his brokerage career, had 81 confirmed cases of the virus as of Friday morning, according to WBRC.
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