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Securities Industry Expert

Securities Industry Expert & Consultant

Jim Karabas - Expert Witness Securities

James Karabas, JD, CFE®, CFP®, CIMA®

Mr. Karabas is an experienced senior investment professional with over forty years of investment management and consulting experience within the framework of both Broker Dealers and Registered Investment Advisory firms.

He has first-hand experience in RIA mergers and acquisition, trading, clearing, custody, and recruiting / supervising / training of Financial Advisors. Through his acquired experiences, Mr. Karabas has developed a comprehensive understanding of the securities rules along with best practices and standard of care to ensure compliance. As a Chief Compliance Officer, he managed the firm-wide compliance for a mid-size RIA, from onboarding new associates and conducting suitability reviews, and responding to regulatory requests. In addition, as the firm’s CCO, he has participated and complied with several SEC examinations. 

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Mr. Karabas has experience supporting arbitration, litigation, and enforcement matters conducting internal investigations, responding to and resolving regulatory investigations and examinations. He is a member of the Financial Industry Regulatory Authority (“FINRA”) Arbitrator Roster and serves as a Non-Public Arbitrator for a variety of cases, specifically those that are within the securities industry. In addition, Mr. Karabas is a Certified Fraud Examiner (CFE) and a member of the National Association of Certified Fraud Examiners. 

Professional Experience

  

  • ​Barrington Financial Consulting Group, Inc. – Expert Witness & Consultant (January 2024 - Present)​​​

  • Embree Financial Group – Managing Director, Chief Compliance Officer and Chief Operating Officer (January 2016 – Present)

  • Waddell and Reed – District Branch Manager (September 2013 – December 2015)​

  • Vestor Capital Partners, LLC – Managing Director (September 2006 – March 2013)

  • Merrill Lynch Pierce Fenner and Smith – First Vice President – Private Banking and Investment Group/ Private Wealth Advisor; Certified Financial Planner, Certified Investment Management Analyst (February 1988 – September 2006)

  • Securities Litigation Consultant – Independent (January 1991 – November 1998)

  • Prudential Bache Securities – Financial Consultant (October 1986 – February 1988)

  • Oppenheimer / 312 Futures – Account Executive (September 1984- October 1986)

  • Paine Webber Futures Inc. – Arbitrage Clerk (November 1983 – September 1984)

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Education

 

  • John Marshall Law School – Juris Doctor (January 1991)

  • Loyola University of Chicago – Bachelors in Business Administration

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Registrations

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  • Series 7 – General Securities Representative

  • Series 3 – National Commodities Futures

  • Series 15 – Foreign Currency Options

  • Series 63 – Uniform Securities State Law

  • Series 65 – Uniform Investment Advisor Law

  • Series 5 – Interest Rate Options

  • Series 24 – General Securities Principal

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Memberships

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  • Financial Planning Association (FPA) (since 2001)

  • Bond Club of Chicago – Board of Directors (since 2010-2014)

  • Investment Management Consultants Association (IMCA since 2004)

  • Securities Expert Roundtable (SER)

  • Association of Certified Fraud Examiners (ACFE)

  • Executive Committee – “Friends Helping to Light the Way” Chicago - B.D.S.R.A

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References

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  • Available upon request

Mr. Karabas is retained as a
Consultant & Expert Witness for the following:
Court

  • Practice Management Standard of Care

  • Written Procedures

  • Damages

  • Heightened Supervision

  • Securities Trading

  • Options

  • Registration/Hiring

  • Annual 3120 Supervisory Control Review

  • Anti-Money Laundering

  • ​Supervisory Controls

  • Suitability Reviews

  • Onboarding Procedures

  • Active-Account Reviews

  • Suitability/Churning

  • Misrepresentation

  • Marketing Rule FINRA 2210

  • Surveillance

  • FINRA rule 3270 /3280

Modern Office Building

For general inquiries or a complimentary case analysis by Mr. Karabas, please use our contact form:

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