Stoltmann Law Offices is investigating David J. Sullivan, a former broker with J.P. Morgan Securities. Sullivan recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). He is accused of effecting numerous transactions in three accounts of a customer without obtaining prior written authorization from the client. This is against securities rules and regulations. For this, he was suspended from associating with any FINRA member firm in any and all capacities for a period of 15 business days and fined $5,000.
Sullivan was registered with Smith Barney, Harris Upham & Co Inc. from July 1987 until August 1988, A.G. Edwards & Sons in St. Louis, Missouri from August 1988 until January 1990, Lehman Brothers in New York, New York from January 1990 until July 1993, Smith Barney in New York from July 1993 until September 1994, Janney Montgomery Scott in Philadelphia, Pennsylvania from September 1994 until December 1997, UBS Painewebber in Weehawken, New Jersey from December 1997 until May 2002, RBC Dain Rauscher in Wellesley Hills, Massachusetts from May 2002 until October 2007, Banc of America Investment Services in Newton, Massachusetts from October 2007 until October 2009, Merrill Lynch in Newton from October 2009 until September 2011 and J.P. Morgan Securities in Boston, Massachusetts from September 2011 until January 2015. He is currently registered with Winslow, Evans & Crocker in Boston and has been since February 2015. He has two customer disputes against him, according to his FINRA BrokerCheck report.
If you invested money with David J. Sullivan, you may be able to sue his former firm, J.P. Morgan Securities, in the FINRA arbitration forum. They had a duty to reasonably supervise him while he was employed there. They may be responsible for investment losses. Please call our securities law firm in Chicago for a free consultation with an attorney.