{"id":3047,"date":"2015-01-28T00:00:00","date_gmt":"2015-01-28T05:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/finra-suspends-james-edward-rooney-jr-for-unauthorized-transactions\/"},"modified":"2017-12-27T16:17:53","modified_gmt":"2017-12-27T21:17:53","slug":"finra-suspends-james-edward-rooney-jr-for-unauthorized-transactions","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-james-edward-rooney-jr-for-unauthorized-transactions\/","title":{"rendered":"FINRA Suspends James Edward Rooney Jr. for Unauthorized Transactions"},"content":{"rendered":"<p><p>James Edward Rooney Jr., of Carrollton, Texas, was fined by FINRA a total of $75,000, suspended from association with any FINRA member in any capacity for a total of two years and was suspended in any supervisory capacity for 18 months.\u00a0 FINRA alleges that Rooney engaged in <a title=\"Selling Away (Private Securities Transactions)\" href=\"https:\/\/www.silverlaw.com\/private-securities-transactions-selling-away.html\" target=\"_blank\">private securities transactions<\/a> involving installment contracts without providing prior written notice his member firm. The findings stated that Rooney recommended the installment contract to his client without a reasonable basis for believing it to be a <a title=\"Unsuitable Investment Advice\" href=\"https:\/\/www.silverlaw.com\/securities-arbitration\/finra-sales-practice-violations\/unsuitable-investment-advice\/\" target=\"_blank\">suitable<\/a> investment. Rooney allegedly did not conduct a reasonable investigation into the company offering the installment plan contracts or the contracts themselves.\u00a0 Rooney sold the product expecting to receive a commission. The findings also stated that Rooney made negligent <a href=\"https:\/\/www.silverlaw.com\/misrepresentation-omission-of-material-facts.html\" target=\"_blank\">misrepresentations of material fact<\/a> to the customer. Although Rooney may not have known that his representations regarding the organization and the features of the contract were false, a simple investigation would have uncovered numerous red flags. Rooney also presented oversimplified, incomplete and misleading sales materials to his customer when soliciting the installment contract. The findings also included that Rooney failed to adequately <a href=\"https:\/\/www.silverlaw.com\/failure-to-supervise.html\" target=\"_blank\">supervise<\/a> other registered representative\u2019s sales of the installment contracts. (<a href=\"http:\/\/disciplinaryactions.finra.org\/viewdocument.aspx?DocNB=37023\" target=\"_blank\"><strong>FINRA Case #2009019042402<\/strong><\/a>)<\/p>\n<p>If you invested money with James Edward Rooney Jr., you may be entitled to recover some of your investment losses. Please call our <a href=\"https:\/\/www.silverlaw.com\/\" target=\"_blank\">securities law firm<\/a> toll free at (800) 975-4345 to speak to an attorney to find out how we may be able to help you recover some of your investment losses through FINRA arbitration.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>James Edward Rooney Jr., of Carrollton, Texas, was fined by FINRA a total of $75,000, suspended from association with any FINRA member in any capacity for a total of two years and was suspended in any supervisory capacity for 18 months.\u00a0 FINRA alleges that Rooney engaged in private securities transactions involving installment contracts without providing [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[590,610,576],"tags":[],"class_list":["post-3047","post","type-post","status-publish","format-standard","hentry","category-misrepresentation-and-omission-of-material-facts","category-private-placement-memorandum","category-unsuitable-investment-advice"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINRA Suspends James Edward Rooney Jr. for Unauthorized Transactions &#8212; Securities Arbitration Lawyers Blog &#8212; January 28, 2015<\/title>\n<meta name=\"description\" content=\"James Edward Rooney Jr., of Carrollton, Texas, was fined by FINRA a total of $75,000, suspended from association with any FINRA member in any capacity for &#8212; January 28, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/finra-suspends-james-edward-rooney-jr-for-unauthorized-transactions\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FINRA Suspends James Edward Rooney Jr. for Unauthorized Transactions &#8212; Securities Arbitration Lawyers Blog &#8212; January 28, 2015\" \/>\n<meta name=\"twitter:description\" content=\"James Edward Rooney Jr., of Carrollton, Texas, was fined by FINRA a total of $75,000, suspended from association with any FINRA member in any capacity for &#8212; January 28, 2015\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FINRA Suspends James Edward Rooney Jr. for Unauthorized Transactions &#8212; Securities Arbitration Lawyers Blog &#8212; January 28, 2015","description":"James Edward Rooney Jr., of Carrollton, Texas, was fined by FINRA a total of $75,000, suspended from association with any FINRA member in any capacity for &#8212; January 28, 2015","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-james-edward-rooney-jr-for-unauthorized-transactions\/","twitter_card":"summary_large_image","twitter_title":"FINRA Suspends James Edward Rooney Jr. for Unauthorized Transactions &#8212; Securities Arbitration Lawyers Blog &#8212; January 28, 2015","twitter_description":"James Edward Rooney Jr., of Carrollton, Texas, was fined by FINRA a total of $75,000, suspended from association with any FINRA member in any capacity for &#8212; January 28, 2015","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-james-edward-rooney-jr-for-unauthorized-transactions\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-james-edward-rooney-jr-for-unauthorized-transactions\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"FINRA Suspends James Edward Rooney Jr. for Unauthorized Transactions","datePublished":"2015-01-28T05:00:00+00:00","dateModified":"2017-12-27T21:17:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-james-edward-rooney-jr-for-unauthorized-transactions\/"},"wordCount":258,"articleSection":["Misrepresentation and Omission of Material Facts","Private Placement Memorandum","Unsuitable Investment Advice"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-james-edward-rooney-jr-for-unauthorized-transactions\/","url":"https:\/\/www.silverlaw.com\/blog\/finra-suspends-james-edward-rooney-jr-for-unauthorized-transactions\/","name":"FINRA Suspends James Edward Rooney Jr. for Unauthorized Transactions &#8212; 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