Articles Tagged with J.P. Morgan

Bull BearMiller Stern Lawyers – 410-Law-Firm is currently investigating clients of former J.P. Morgan Advisor David Beston.

According to Advisor Hub, a former J.P. Morgan Securities advisor in New York City who sold customer data from account lists he had printed in anticipation of losing his job has agreed to an industry suspension and monetary sanctions of $12,500.

According to the news article, David Beston took home a hard copy of about 500 customer names, account values and numbers in anticipation of joining another firm, “due to a restructuring that jeopardized Beston’s employment with J.P. Morgan,” according to an acceptance, waiver and consent letter that the Financial Industry Regulatory Authority accepted on Thursday.

Bull BearThe Law Offices of Daniel J. Miller and Miller Lawyers, a Maryland Securities and Broker Fraud Law Firm is currently investigating allegations by all clients of  J.P. Morgan Securities and Advisor Antine Souma relating to failure to supervise, unsuitable trading and discretionary trading allegations.  J.P. Morgan Securities has paid $14 million to settle a claim that, among other things, it failed to supervise Antoine Souma, CRD#: 4210987 , according to regulatory filings.

The client alleged that over approximately three years, Souma engaged in excessive and unsuitable trading, discretionary trading, falsified performance reports, failed to extend a promised credit line, breach of fiduciary duty, misrepresentation and omission of material facts, breach of contract, constructive fraud, failure to supervise, violation of state and federal securities laws and FINRA rules, and promissory estoppel, according to BrokerCheck.

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