Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

J.P. Morgan Securities Ordered to Pay Damages Over Defamation Claims

Posted on May 8th, 2024 at 11:55 AM
J.P. Morgan Securities Ordered to Pay Damages Over Defamation Claims

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï

J.P. Morgan Securities has been directed to pay $250,000 in damages to a New York financial advisor following allegations of defamation in a regulatory filing upon his departure from the firm in 2022. The Financial Industry Regulatory Authority (FINRA) arbitration award allows the advisor to expunge the defamatory accusations from his record.

AdvisorHub reports that the dispute stemmed from J.P. Morgan's Uniform Termination Notice for Securities Industry Registration (Form U5). Michael Nolan was accused of sharing nonpublic information with a client and engaging in undisclosed business activities. Upon moving to RBC ÍøÆØ³Ô¹Ïalth Management-U.S., Nolan contested those allegations, asserting they impeded his ability to attract clients and breached FINRA Rule 1122, which prohibits the filing of misleading information.

The arbitration award also mandates revising Nolan's record to reflect his departure from the firm as "voluntary" and to clarify that no internal policies were violated.

 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. ÍøÆØ³Ô¹Ï will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

LATEST NEWS AND ARTICLES

1783615970 Law
July 9, 2026
FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

1783525964 Law
July 8, 2026
SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.

1783434190 Law
July 7, 2026
Private Credit Funds Face Mounting Redemption Pressure as Investor Sentiment Shifts

A surge in investor redemption requests has intensified pressure on private credit funds, raising concerns about liquidity and long-term stability across the asset class, as reported by The Wall Street Journal.