EDWARD L TURLEY (ED TURLEY, EDWARD LAWRENCE TURLEY) was barred by FINRA from acting as a broker or otherwise associating with a broker/dealer firm. The last firm Turley was registered with was JP MORGAN SECURITIES LLC of San Francisco, California, from 04/23/2009 - 09/16/2021. EDWARD L TURLEY was previously registered both as a broker and as an investment advisor.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, EDWARD L TURLEY, was permanently barred by FINRA on 11/17/2022. According to the FINRA report, without admitting or denying FINRA’s findings, EDWARD L TURLEY consented to the sanction and to the entry of findings that he allegedly refused to provide on-the-record testimony requested by FINRA. FINRA’s findings stated that the request for testimony related to Turley's alleged trading in customer accounts, including but not limited to the use of foreign currency and margin, and the purchasing and selling of high-yield bonds and preferred stock.
According to BrokerCheck, EDWARD L TURLEY had been in the securities industry for 28 years and was listed with 4 firms. Turley had 15 disclosures on his FINRA CRD report, 13 of the disclosures were “Customer Disputes.” Of those disputes, 11 have settled and 1 was denied. The significance of Turley’s disclosures is underscored in FINRA NOTICE to MEMBERS 03-49. FINRA conducted a review of the CRD’s of all registered representatives, only .41% had been the subject of 3 or more customer complaints. In other words,EDWARD L TURLEY’s customer complaints ranked him in the top one-hundredth percent of all registered representatives for customer complaints.
Some of the settled “Customer Disputes” are listed below:
On 1/3/2024 a dispute settled for $1,000,000.00 with the allegations of, “Claimant alleges exercise of discretion and unsuitable trading. Activity dates 2011 - 2019.”
Another dispute filed against Turley dated 10/6/2023 settled for $1,500,000.00, alleging, “Client alleges unsuitable investment recommendations. Activity dates February 2020 to March 2020.”
A dispute filed against EDWARD L TURLEY on 6/23/2022 settled for $5,000,000.00 following the allegations of, “Claimant alleges exercise of discretion, misrepresentation, and unsuitable trading. Activity dates 2019 - 2020.”
On 3/24/2022 a dispute filed against Turley settled for $5,000,000.00 with allegations of, “Claimant alleges exercise of discretion and unsuitable trading. Activity dates September 2017 - March 2022.”
A dispute dated 7/13/2021filed against EDWARD L TURLEY settled for $12,000,000.00. The allegations were, “Claimant alleges exercise of discretion and unsuitable trading. Activity dates 2018 - 2020.”
On 9/8/2020 a dispute against Turley settled for $8,214,856.00 following the allegations of, “Claimants allege exercise of discretion and unsuitable investments. Activity dates August 2016 - July 2020.”
On 6/19/2020 a dispute filed against EDWARD L TURLEY settled for $12,100,000.00. The allegations in this “Customer Dispute” were, “Claimant alleges exercise of discretion, unsuitable trading and solicitation of an unauthorized private securities transaction. Activity dates 2012-2020.”
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