Broker Barred: FINRA Bars Former Farmers Financial Solutions Broker James Burton Jr.
Have you lost money investing with James Burton Jr.?
According to the Financial Industry Regulatory Authority (FINRA), former broker James Elroy Burton Jr. (CRD#: 5051310) has been barred from the securities industry.
FINRA Findings Against James Burton, Jr.
On April 24, 2025, FINRA issued a final disciplinary action permanently barring Burton from acting as a broker or associating with any FINRA-member firm.
Without admitting or denying the allegations, Burton consented to the findings that he failed to provide documents requested by FINRA during an investigation into the sale of promissory notes in a company claiming to offer crypto asset funds and investment programs.
While Burton initially cooperated, he ultimately ceased responding to FINRA’s requests.
Termination from Farmers Financial Solutions
Burton was registered with Farmers Financial Solutions, LLC (CRD#: 103863) in Bakersfield, California from 2007 until his termination in October 2023. The firm discharged him after determining that he:
- Failed to disclose his personal investment in a private securities transaction.
- Engaged in activities related to promissory notes as an undisclosed outside business activity.
- Violated FINRA Rules 3270, 3280 and firm policy.
Pending Customer Dispute Involving Promissory Notes
According to Burton’s FINRA BrokerCheck report, a customer dispute remains pending.
- Date: October 10, 2023
- Allegations: A customer claims Burton sold them non-registered promissory notes issued by Jazzberry Digital Solutions, Inc. outside the firm’s policies and procedures. The client alleges that Burton failed to disclose the risks associated with the investment.
- Damages Requested: $110,000
Understanding “Selling Away”
The allegations against Burton involve a practice known as selling away, when a broker solicits investments not approved by their brokerage firm. These private securities transactions often carry significant risks and may involve fraudulent or unregistered securities offerings.
FINRA strictly prohibits brokers from engaging in outside business activities or private securities transactions without firm approval.
Recovering Investment Losses
If you invested with James Elroy Burton Jr. and suffered financial losses, you may be able to recover damages through a FINRA arbitration claim. Brokerage firms can be held liable for failing to properly supervise their registered representatives.
The White Law Group May Be Able to Help
The White Law Group represents investors in FINRA arbitration claims against brokers and brokerage firms nationwide, including cases involving:
- Promissory notes
- Crypto-related investments
- Selling away and outside business activities
- Misrepresentation and unsuitable investment recommendations
If you believe you were a victim of investment fraud or broker misconduct, call The White Law Group at (888) 637-5510 for a free consultation.
Contact a Securities Fraud Attorney Today
The White Law Group has offices in Chicago, Illinois and Seattle, Washington, and represents investors nationwide.
For more information on recovering investment losses due to broker misconduct, visit our website at www.whitesecuritieslaw.com.
FAQs About Broker Misconduct and Selling Away
What does it mean when a broker is “barred” by FINRA?
When FINRA bars a broker, it means they are permanently prohibited from working in the securities industry or associating with any FINRA-member firm.
What is “selling away”?
“Selling away” occurs when a financial advisor sells investments that are not approved or supervised by their brokerage firm. These private securities transactions often involve high risks and may be fraudulent or unregistered.
Can I sue a broker for promissory note losses?
Yes. If you purchased promissory notes or other unregistered securities from a broker, you may be able to pursue a claim through FINRA arbitration to recover your investment losses.
Is my brokerage firm responsible if my broker sold me unauthorized investments?
In many cases, yes. Brokerage firms have a duty to supervise their registered representatives. If a broker engages in misconduct such as selling away, the firm may be held liable for your financial losses.
How can The White Law Group help me?
The White Law Group focuses on representing investors in claims against brokers and financial advisors. Our attorneys can evaluate your situation and help you determine whether you have a valid claim for recovery.
