(CRD #2959057, Westlake Village, California)

November 19, 2025 – An AWC was issued in which James Daniel Lang was fined $5,000 and suspended from association with any FINRA member in all capacities for four months. Without admitting or denying the findings, Lang consented to the sanctions and to the entry of findings that he engaged in OBAs without prior written disclosure to his two member firms. The findings stated that Lang established two trusts for a long-time customer. Lang was designated to serve as the successor trustee and after the customer, a senior, passed away he assumed the role of trustee. Lang was not a beneficiary of either trust, however, he was compensated for serving as trustee. Although Lang disclosed other OBAs to the first of his employing firms, he did not disclose his role as trustee. After his activities were discovered by the firm during a branch audit, Lang disclosed his trustee roles. However, the firm rejected Lang's outside business request and instructed him to relinquish his trustee roles. Lang failed to do so. Later, the firm discovered that Lang was continuing to serve as trustee and began an internal investigation. Lang then resigned from the firm. Subsequently, when Lang associated with a new firm, he was still serving as the trustee for one of the trusts. Although Lang disclosed other OBAs to the new firm, he did not disclose his ongoing role as trustee to the new firm until over two years later. Prior to disclosing his trustee roles to either firm, Lang inaccurately indicated on a compliance questionnaire for each firm that he was not serving as a trustee for any non-family members. The findings also stated that apart from his roles as trustee, Lang was appointed and compensated for serving as the executor for the same customer's estate. Lang did not disclose this role as an OBA in writing to either firm. Lang inaccurately stated in an annual questionnaire to the original firm that he had disclosed all outside activities and was not acting in a fiduciary capacity. After he joined the new firm, Lang inaccurately represented to it that he had disclosed all OBAs when he had not. The suspension is in effect from December 15, 2025, through April 14, 2026. (FINRA Case #2020067065101) If you have suffered losses as a result of James Daniel Lang’s act and/or actions, we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by James Daniel Lang. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at  (813) 226-3372 or email Matthew Schwartz directly at mschwartz@tslfirm.com.