January 2020 – Northridge, CA
According to publicly available records John Luis Torres (CRD#6322231) , a former stockbroker discloses a regulatory event resulting in his bar from the industry , 2 pending customer disputes and a termination from employment.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In January 2019, FINRA case #2018059605301 was initiated alleging Torres failed to respond to FINRA request for information. In April 2019 FINRA permanently barred Torres from the securities industry.
In September 2018, a customer of JP Morgan Chase Bank, an affiliate of JP Morgan Securities, alleged misrepresentations and aiding and abetting theft of its funds entrusted to a customer of affiliate bank and seeks damages of $1,603,200.
In 3/2019 a customer of J.P. Morgan Securities filed FINRA case 19-714 alleging that funds were misappropriated and is seeking damages of $860,000.
Torres was employed by JP Morgan Chase Bank from April 2014 until August 2018, when he was discharged after allegations that he opened an affiliate bank account for a customer after being directed not to do so by the affiliate bank’s global security department.
If you have questions about an investment account handled by John Torres contact us for a no charge consultation to learn about your legal options.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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