Mehdi Ahmad El Sayed Mohamad, of Astoria, New York, a stockbroker registered with J.P. Morgan Securities LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Mohamad refused to provide information and documents requested by FINRA during an investigation into allegations of unauthorized transactions. Letter of Acceptance, Waiver, and Consent No. 2024081490001 (August 27, 2024).
FINRA Rule 8210 gives FINRA the authority to request documents, information, and testimony from individuals and securities broker dealers in the securities industry as part of its investigations.
According to the AWC, FINRA requested information from Mohamad concerning his actions at J.P. Morgan Securities. According to the securities broker dealer, Mohamad’s registration was terminated because he made unauthorized charges to a customer’s credit card for personal use. When FINRA looked into these allegations, they asked Mohamad for documents and information multiple times. On a phone call with FINRA in July 2024, Mohamad reportedly acknowledged that he had received the requests but confirmed he would not comply with them.
By refusing to cooperate with FINRA’s investigation, Mohamad violated Rules 8210 and 2010.
Mohamad was associated with J.P. Morgan Securities LLC in Astoria, New York, from May 23, 2022, to March 6, 2024.
