A former JPMorgan worker is within the cross hairs of the Monetary Business Regulatory Authority (FINRA) over alleged regulatory violations.
FINRA says it’s penalizing Dale Self with a $5,000 positive and suspending him from associating with its members for 15 enterprise days for “improperly” taking the non-public info of dozens of consumers from J.P. Morgan Securities with out the consent of his employer or the purchasers.
J.P. Morgan Securities is the funding administration arm of JPMorgan Chase.
In keeping with the self-regulatory group of the US monetary business, Self took the knowledge from J.P. Morgan Securities forward of an anticipated transfer to rival agency. Self had labored on the JPMorgan Chase subsidiary as a common securities consultant for over a decade.
FINRA says,
“Self took handwritten notes of nonpublic private info pertaining to greater than 200 J.P. Morgan Securities prospects, together with buyer dates of delivery, social safety numbers, and monetary account numbers, in a pocket book.”
The US regulator additional says that Self revealed the shopper info contained within the pocket book to his would-be employer weeks earlier than leaving J.P. Morgan Securities.
“The disclosed nonpublic private buyer info was used to arrange new account types and populate buyer relationship software program for these prospects, in anticipation of transferring these prospects’ J.P. Morgan Securities accounts to the brand new agency.”
In keeping with FINRA, Self ultimately returned the shopper info to J.P. Morgan Securities on the request of his former employer.
He has agreed to settle with the company with out admitting or denying guilt.
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