Rick Douglas Konecny of Chicago Illinois a stockbroker formerly associated with JP Morgan Securities LLC has been referenced in a customer initiated investment related arbitration claim which was resolved for $30,000.00 in damages supported by allegations of an overconcentration of the customer’s assets in high-risk investments which led the customer to experience losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00067 (Jan. 16, 2020).
Konecny has been referenced in ten additional customer initiated investment related disputes concerning accusations of his bad trades while registered with securities broker dealers including Morgan Stanley, UBS Financial Services and JP Morgan Securities. The stockbroker is the subject of a customer initiated investment related arbitration claim which settled for $315,000.00 in damages based upon allegations that unauthorized transactions were effected in the customer’s account and that the customer’s account had been excessively concentrated by Konecny in sector specific equities and corporate debt investments during the time that he was associated with JP Morgan Securities. FINRA Arbitration No. 17-00856 (Dec. 11, 2017).
On February 26, 2019, another customer initiated investment related arbitration claim involving Konecny’s conduct was settled for $33,253.00 in damages based upon allegations that misrepresentations had been made to the customer concerning natural resource and energy stocks during the time that Konecny was associated with UBS Financial Services. FINRA Arbitration No. 17-02223.
Konecny is referenced in another customer initiated investment related arbitration claim which was resolved for $750,000.00 in damages based upon accusations that stock trades failed to be suitable for the customer and that margin was utilized by the stockbroker without authorization when he was associated with JP Morgan Securities. FINRA Arbitration No. 17-02305 (June 6, 2019).
Konecny is also the subject of a customer initiated investment related arbitration claim which was settled for $137,500.00 in damages supported by allegations that equities trades failed to be suitable for the customer and that the customer’s account was overconcentrated in speculative stocks by Konecny when he was employed by JP Morgan Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01205 (Nov. 7, 2019).
FINRA Public Disclosure reveals that on November 21, 2017, Konecny was barred from associating with any FINRA member in any capacity founded on accusations that the stockbroker neglected to respond to the regulator’s request for information about his activities. FINRA Case No. 2016049543601. On March 16, 2018, Konecny was sanctioned again by FINRA based upon allegations that he failed to comply with a customer initiated investment related arbitration award or otherwise confirm his compliance with the regulator. FINRA Case No. 16-03724.
Konecny was discharged by JP Morgan Securities based upon allegations of him exercising discretion in customer accounts without complying with the securities broker dealer’s policy and for failing to escalate customer complaints.
