J.P. Morgan Securities LLC

Trevor Rahn, Former J.P. Morgan Securities Broker, Suspended for Unauthorized Trades, Unsuitable Recommendations, and Mismarked Orders – Los Angeles, CA

Published on: March 22, 2021 | by Iorio Altamirano

FINRA has suspended financial advisor Trevor B. Rahn from the securities industry for 18 months and fined him $10,000.

FINRA alleged that Mr. Rahn engaged in a pattern of breaking up customer orders for execution in violation of FINRA Rules. Specifically, from January 2014 to September 2018, Mr. Rahn recommended an “average pricing” investment strategy to his customers in which he executed orders by breaking them into multiple small trades, each generating a separate commission. Mr. Rahn lacked a reasonable basis to believe this strategy was suitable for his customers. Connected with this strategy, Mr. Rahn exercised time and price discretion on over 7,500 trades without the required authorization.

FINRA also alleged that Mr. Rhan executed 577 unauthorized trades in a customer’s account and that he mismarked 4,714 solicited trades in three customer accounts as “unsolicited” in violation of FINRA Rules.

Former JP Morgan Broker Avi Schottenstein Accused of Abuse of Fiduciary Duty and Misrepresentations – FINRA

Published on: March 10, 2021 | by Iorio Altamirano

A FINRA arbitration panel issued a $19 million award for an elderly customer, Beverley B. Schottenstein, of Bal Harbour, FL, for illegal trading in her accounts by J.P. Morgan Securities and two of her grandsons. The compensation is to be paid by J.P. Morgan Securities and her grandsons, Avi Schottenstein and Evan Schottenstein, who are brothers and were acting as her brokers.

According to the FINRA award dated February 4., the Claimants asserted the following causes of action: constructive fraud/abuse of fiduciary duty; fraudulent misrepresentations and omissions; and violation of Chapter 415, Fla. Statutes. The causes of action related to the allegedly unauthorized purchase and/or sale of various securities in Claimants’ account included multiple auto-callable structured notes and various other securities for which J.P. Morgan was a market maker, including Apple stock, as well as initial public offerings (IPOs) and follow-on offerings (FPOs).

Iorio Altamirano LLP is investigating the allegations surrounding Avi Schottenstein. If you have lost money with Avi Schottenstein or J.P. Morgan, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

Former JP Morgan Broker Evan Schottenstein Accused of Abuse of Fiduciary Duty and Misrepresentations – FINRA

Published on: March 10, 2021 | by Iorio Altamirano

**Update 4/13/2021** The Financial Industry Regulatory Authority (“FINRA”) has barred broker Evan Schottenstein from the securities industry for refusing to cooperate with a FINRA investigation into issues related to his discharge from J.P. Morgan Securities, including illegal trading activity in his Grandmother’s account.

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Former JP Morgan Broker Evan Schottenstein Accused of Abuse of Fiduciary Duty and Misrepresentations – FINRA

Former J.P. Morgan Securities Broker Jasmit Singh SUSPENDED by FINRA – New York, NY

Published on: February 3, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has suspended former broker Jasmit Singh from the securities industry for seven months over allegations that Mr. Singh participated in private securities transactions and engaged in outside business activities without providing prior written notice to his firm. In addition to the suspension, FINRA fined him $10,000 and ordered him to disgorge $5,500 in finder’s fees.

Mr. Singh was registered as an Investment Banking Representative with J.P. Morgan Securities LLC (“J.P. Morgan”) in New York, NY, from August 2017 until February 2020.

If you have lost money with former broker Jasmit Singh or J.P. Morgan, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.