James Blake Daughtry
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U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26557 / May 21, 2026 Securities and Exchange Commission v. Daughtry , No. 1:24-cv-00125 (M.D. Ala. filed Sept. 28, 2022) SEC Obtains Final Consent Judgment as to former Alabama Investment Adviser On May 20, 2026, the United States District Court for the Middle District of Alabama entered a final consent judgment against James Blake Daughtry, based on Daughtry’s alleged breach of fiduciary duties to his clients in connection with the sale of his investment advisory business to Jared D. Eakes. The SEC filed its complaint against Eakes and Daughtry on September 28, 2022 in the Middle District of Florida, but the SEC’s claims against Daughtry were subsequently severed and that case was transferred to the Middle District of Alabama. The SEC’s complaint alleged that Daughtry breached his fiduciary duties to the clients that he moved and/or recruited to Eakes’ investment advisory firm, GraySail Advisors, LLC. According to the complaint, Eakes misappropriated approximately $2.6 million from GraySail’s clients, several of whom had previously been advisory clients of Daughtry. As alleged, Daughtry told his clients that he would monitor their accounts, and review any proposed investments with GraySail before such investments were consummated, but he failed to abide by these promises, even when several clients questioned certain investments that had been made in their accounts with GraySail. According to the complaint, Daughtry’s failure to exercise the requisite care for his clients enabled Eakes to defraud these clients. Without admitting or denying the allegations made in the SEC’s complaint, Daughtry consented to the entry of the final judgment, which (a) permanently enjoins him from violating Section 206(2) of the Investment Advisers Act of 1940, (b) permanently enjoins him from associating with a broker, dealer or investment adviser, and (c) orders him to pay a $50,000 civil penalty. The SEC’s litigation against Eakes remains pending in the Middle District of Florida. The SEC’s litigation against Daughtry was led by Paul Kim and H.B. Roback, under the supervision of M. Graham Loomis, all of the SEC’s Atlanta Regional Office. Resources <ul class="field
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"Ala. filed Sept. 28, 2022) SEC Obtains Final Consent Judgment as to former Alabama Investment Adviser On May 20, 2026, the United States District Court for the Middle District of Alabama entered a final consent judgment against James Blake Daughtry, based on Daughtry’s alleged breach of fiduciary duties to his clients in connection with the sale of his investment advisory business to Jared D."
"Daughtry , No. 1:24-cv-00125 (M.D."
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"Without admitting or denying the allegations made in the SEC’s complaint, Daughtry consented to the entry of the final judgment, which (a) permanently enjoins him from violating Section 206(2) of the Investment Advisers Act of 1940, (b) permanently enjoins him from associating with a broker, dealer or investment adviser, and (c) orders him to pay a $50,000 civil penalty."