Darren Nickolas Ting, of New York, New York, a stockbroker registered with J.P. Morgan Securities LLC, has been fined $10,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Ting engaged in unauthorized trading and mismarked solicited trades during the time that he was associated with J.P. Morgan Securities LLC. Letter of Acceptance, Waiver, and Consent No. 2022074432901 (October 1, 2023).
On March 2, 2022, J.P. Morgan submitted a Form U5 to FINRA, confirming Ting’s termination as a stockbroker. The securities broker dealer revealed that Ting voluntarily resigned following an internal review at J.P. Morgan. The review highlighted allegations that he marked solicited trades as unsolicited, communicated with customers using unapproved methods, and engaged in discretionary trading. FINRA brought the enforcement action against Ting because of the Form U5.
According to the AWC, Ting’s activities between June of 2021 and January of 2022 involved him exercising discretionary authority in six customer accounts without the customers’ prior written authorization. Those customers had not provided written authorization for 60 trades. Therefore, Ting violated FINRA Rules 3260(b) and 2010.
Also, between May of 2021 and December of 2021, Ting incorrectly marked at least 150 trades as unsolicited when they were actually solicited. This resulted in J.P. Morgan maintaining inaccurate books and records. The regulator found that Ting violated FINRA Rules 4511 and 2010.
King was associated with J.P. Morgan Securities LLC between March 12, 2021, and March 2, 2022.
