Jim Eugene Scala Jr. (CRD #2493873, Registered Representative) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for 15 business days. FINRA gave Scala credit for serving a suspension imposed by his member firm while it investigated his private securities transactions. The suspension was in effect from February 19, 2013, through March 11, 2013. See FINRA Case #2011025846001. Scala has been registered with Dalton Strategic Investment Services, Inc., since August 2010. Scala previously was registered with FINRA at Brookstone Securities, Inc., and GunnAllen Financial, Inc.
Without admitting or denying the findings, Scala consented to the described sanctions and to the entry of findings that he engaged in private securities transactions when he sold shares he owned in an alternative energy company to individuals that included customers of his firm. The findings stated that Scala was required to give his firm prior written notice and obtain prior written approval to sell his shares of the company and he failed to do so.
Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our “contact form.”