James McArthur, Ex-IBN Financial Broker, has 16 Customer Complaints
The White Law Group is investigating potential securities claims involving James McArthur and the liability his former employers, IBN Financial Services, may have for failing to properly supervise him.
James McArthur, the former Chief Compliance Officer of A.G. Morgan Financial Advisors, LLC (AGM), is alleged to have violated federal securities laws in connection with an unregistered securities offering that raised over $75 million from more than 200 investors. He was purportedly affiliated with a FINRA-registered brokerage firm during the time of the allegations.
Between August 2017 and November 2017, McArthur, alongside AGM’s principal, purportedly solicited nearly a dozen investors to invest at least $2.6 million in promissory notes issued by Complete Business Solutions Group, doing business as Par Funding.
McArthur and the AGM executive reportedly failed to disclose key conflicts of interest, including AGM’s debt of approximately $750,000 to Par Funding—a debt personally guaranteed by AGM’s principal. Despite this alleged conflict, they reportedly promoted the investments as safe. Collectively, AGM, its principal, and McArthur allegedly received over $7 million in compensation from Par Funding for selling these unregistered securities. The SEC reportedly charged McArthur with violations of Sections 5(a) and (c) of the Securities Act and Section 15(a)(1) of the Exchange Act.
James McArthur – FINRA Broker Check
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA.
According to his FINRA broker report, James McArthur has sixteen customer complaints on his record. Allegations include Breach of fiduciary duty; failure to supervise; negligence and gross negligence; misrepresentations and omissions, among others. He was reportedly registered with the following firms among others:
04/01/2021 – 06/17/2022 IBN FINANCIAL SERVICES, INC. (CRD#:42360) Massapequa, NY
01/09/2019 – 09/25/2020 TRADERFIELD SECURITIES INC. (CRD#:20130) Massapequa, NY
04/21/2014 – 12/31/2018 AMERICAN PORTFOLIOS FINANCIAL SERVICES, INC. (CRD#:18487)Massapequa, NY
Failure to Supervise
A brokerage firm’s duty to supervise its advisors is a fundamental obligation under federal securities laws and FINRA rules. This duty is designed to protect investors.
If an advisor engages in misconduct, the firm can be held liable if it failed to detect or prevent the wrongdoing due to inadequate supervision. Firms that fail to supervise their advisors, can be held responsible for investment losses in a Financial Industry Regulatory Authority (FINRA) arbitration claim.
Free Consultation
If you have suffered investment losses with James McArthur and IBN Financial Services, the securities attorneys at the White Law Group may be able to help you by filing a FINRA Dispute Resolution claim. Please call (888) 637-5510 for a free consultation.
National Securities Attorneys
The White Law Group, LLC is a national law firm in securities fraud, securities arbitration, investor protection, and securities regulation and compliance. With offices in Chicago, Illinois and Seattle, Washington, the firm is dedicated to assisting investors across all 50 states with claims against their brokerage firms. Since its founding in 2010, The White Law Group has handled over 800 FINRA arbitration cases.
With more than 30 years of experience in securities law, The White Law Group has the knowledge and expertise to help investors recover losses resulting from securities fraud.
Last modified: February 3, 2025
