Seeking Alpha

Robert W Pearce's  Instablog

Robert W Pearce
Send Message
Mr. Pearce has tried, arbitrated and mediated numerous disputes involving complex securities, commodities, administrative, contract, commercial, business tort and employment law issues for over 30 years. He has represented hundreds of clients in Federal and state courts (trial and appellate) as... More
My company:
The Law Offices of Robert Wayne Pearce, P.A.
My blog:
The Investor's Rights Law Blog
    Nov 19, 2013 10:22 AM

    Stephanie Ann Boudreaux, a former client service associate employed by New York, New York-based JP Morgan Securities, submitted a Letter of Acceptance, Waiver, and Consent in which she consented to, but did not admit to or deny, the described sanction and the entry of the Financial Industry Regulatory Authority's (FINRA) findings that she converted funds from a bank affiliate of her firm, JP Morgan Chase Bank, NA. The findings stated that Ms. Boudreaux was employed with the affiliate as a client service associate and used her access to the bank's systems and credited $20,060 in fictitious fee reversals to her personal bank accounts. Ms. Boudreaux did not have the bank's permission or authority to take these funds. The findings also stated that Ms. Boudreaux failed to provide information and documents FINRA requested in connection with an investigation. Ms. Boudreaux, of Houston, Texas, was barred from association with any FINRA member in any capacity.

    Broker-dealers must establish and implement a reasonable supervisory system to protect customers from broker misconduct. If broker-dealers do not establish and implement these protective measures, they may be liable to investors for damages flowing from the misconduct. Therefore, investors who have suffered losses due to misappropriation of funds can bring forth claims to recover damages against broker-dealers like JP Morgan Securities, which should consistently oversee its registered representatives' activities in order to prevent the above-described prohibited conduct.

    The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. Please see our Instablog profile (left column) for ways to contact us and get answers to any of your questions about this blog post and/or any related matter.

Back To Robert W Pearce's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.