Broker William Brown Fined for Unauthorized Trades

By January 4, 2016 September 20th, 2017 News

Former J.P. Morgan Securities, LLC investment adviser William W. Brown has accepted a suspension and fine from FINRA relating to allegations that he executed unauthorized trades in a customer’s account.

According to Brown’s Letter of Acceptance, Waiver and Consent (“AWC”) with FINRA, Brown “improperly exercised discretion to execute 16 transactions in one customer’s account without the customer’s prior written authorization.” The unauthorized trades occurred from October 1, 2013 through February 27, 2014 when Brown was a registered representative with J.P. Morgan’s office in Los Angeles, California, according to the AWC.

Brown agreed to a 15-day suspension from the industry, a $10,000 fine, and to pay $1,473.88 plus interest in restitution to the customer.

A review of Brown’s FINRA BrokerCheck report shows that Brown is now registered with RBC Capital Markets, LLC in Beverly Hills. He was with J.P. Morgan from January 1989-May 2014, and previously worked with Morgan, Olmstead, Kennedy & Gardner, Inc. from July 1986-December 1988.

The FINRA disciplinary proceeding is No. 2014041321701.

Fishman Haygood represents investors who have suffered investment losses in claims against their brokers or financial advisors. Our experienced attorneys have brought securities fraud cases in state and federal courts across the nation, as well as in FINRA arbitration. We work to help investors recoup their losses.

Of course, all cases are different. For that reason, we analyze each client’s matter individually and provide our personalized evaluation only after considering all of the facts and circumstances of all possible claims. If you or someone you know is the victim of securities fraud, please contact a Fishman Haygood lawyer today.

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