J.P. Morgan Securities LLC (CRD#: 79, New York, New York) is a brokerage firm that the Financial Industry Regulatory Authority (“FINRA”) regulates, and an investment adviser firm which the Securities and Exchange Commission (“SEC”) regulates. Notably, regulators have brought actions against J.P. Morgan Securities at least 331 times for allegedly engaging in violations of industry rules or securities laws. Also, the firm discloses 133 cases where customers filed arbitration actions alleging the firm or its brokers engaged in sales practice violations. Moreover, on occasion, J.P. Morgan Securities LLC or its affiliate, JPMorgan Chase Bank, NA, has terminated its own representatives for allegedly committing misconduct which could have harmed investors. For instance, take a look at the employment terminations of J.P. Morgan brokers Donovan Hunter, Robert Varnum and Lindsey Chapman:
JPMorgan Chase Bank Discharges Donovan Hunter For Unauthorized Outside Business Activity
Donovan St. Anthony Hunter (CRD#: 6622234, Houston, Texas) is a past registered representative of J.P. Morgan Securities LLC. Apparently, between April 4, 2016 and August 27, 2018, Donovan Hunter worked out of the firm’s Houston, Texas offices. Notably, FINRA BrokerCheck shows that JPMorgan Chase Bank, NA discharged Donovan Hunter on August 27, 2018 for engaging in misconduct. Supposedly, Donovan Hunter solicited a Chase customer’s investments in an outside business activity. Apparently, the firm did not authorize the outside business activity Donovan Hunter solicited. JPMorgan Chase Bank, NA further claimed that Donovan Hunter used customer’s funds for his personal use, which violated the firm’s policies. Donovan Hunter is not registered as a broker at this time.
Robert John Varnum Jr. (CRD#: 1659320, Happy Valley, Oregon) joined J.P. Morgan Securities LLC as a securities representative on November 30, 2017. Evidently, JPMorgan Chase Bank, NA permitted Robert Varnum to resign on June 15, 2018 because of allegations of Robert Varnum’s misconduct. Specifically, Robert Varnum left the firm following a customer’s complaint about his unsuitable investment advice. According to the customer, Robert Varnum did not give the customer reasonable advice in regard to the surrender of the customer’s existing annuity. Previously, Robert Varnum worked at Pruco Securities, LLC from March 9, 2016 to July 13, 2016, and Morgan Stanley from February 6, 2015 to March 16, 2016.
Lindsey N. Chapman (CRD#: 5210832, St. Mary’s, Ohio), who is also known as Linsey Nicole Gladfelter and as Lindsey N. McGinnis, is a prior general securities representative of J.P. Morgan Securities LLC. Apparently, she worked at the firm’s St. Mary’s office from October 1, 2012 to June 23, 2015. Evidently, Lindsey Chapman was discharged by J.P. Morgan Securities LLC because she solicited trades which she claimed were not solicited (note: mismarking of order tickets is often considered a violation of FINRA rules). Apparently, Lindsey Chapman has been an Ameriprise Financial Services, Inc. securities broker since August 27, 2015.
Have you experienced losses by investing with J.P. Morgan brokers Donovan Hunter, Robert Varnum or Lindsey Chapman? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.
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