Brad William McDowell, of Niles, Illinois, a stockbroker registered with J.P. Morgan Securities LLC, was terminated from employment on June 17, 2016, based upon allegations that McDowell did not properly secure confidential information pertaining to the firm’s customers.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that McDowell has been named in three customer initiated investment related disputes containing allegations of McDowell’s misconduct while employed with National Securities Corp. and J.P. Morgan Securities LLC. Specifically, on March 21, 2012, a customer filed an investment related written complaint involving McDowell’s conduct based upon allegations that McDowell made faulty investment recommendations to the customer, effected transactions in the customer’s account which were not suitable, and was liable for the customer’s stock and bond losses.
Subsequently, on November 19, 2013, a customer initiated investment related written complaint regarding McDowell’s activities was resolved for $5,702.84 in damages based upon allegations that McDowell made misrepresentations to the customer concerning mutual fund investments. Further, on January 28, 2015, a customer initiated investment related arbitration claim involving McDowell’s conduct was settled for $14,999.00 in damages based upon allegations that McDowell breached his fiduciary duties and effected unsuitable equity transactions in the customer’s account.
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