Ex-JPMorgan Broker Accused of Misusing Client Accounts
A former JPMorgan broker who had been in the industry for a little over two years has been barred for refusing to provide requested information to Finra, the industry’s self-regulator says.
Donovan Hunter entered the financial services industry in March 2016 when he registered with JPMorgan, according to a letter of acceptance, waiver and consent published by Finra.
The company discharged him in August 2018, after he was terminated by Chase, JPMorgan’s banking business, over allegations he’d solicited investment in unapproved outside business activity from one of the bank’s customers and used the funds for personal use, according to his BrokerCheck profile.
Hunter claims in his profile that the customer had agreed to the investment in question.
The former broker first complied with Finra’s requests for information sent out late last year, but last month emailed the regulator’s staff saying he would not respond to its second request, which resulted in the bar, Finra says. Hunter agreed to the bar without admitting or denying the regulator’s findings, according to the consent letter.