Rick Douglas Konecny of Chicago Illinois a stockbroker formerly registered with JP Morgan Securities LLC is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $200,000.00 in damages based upon allegations that unsuitable transactions were affected in customer accounts by Konecny when he was associated with JP Morgan Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01855 (Apr. 6, 2021). The customer’s account had been overconcentrated in equities according to the claim.
FINRA Public Disclosure shows that Konecny has been identified in eleven additional customer initiated investment related disputes containing accusations of his harmful actions while employed by Morgan Stanley DW Inc., UBS Financial Services Inc. and JP Morgan Securities. On December 11, 2017, a customer initiated investment related FINRA securities arbitration claim involving Konecny’s activities was resolved for $315,000.00 in damages founded on allegations that Konecny made unsuitable and unauthorized trades regarding stocks, over-the-counter equities and corporate debt. FINRA Arbitration No. 17-00856. The claim alleges that the customer did not know or consent to the transactions.
On June 6, 2019, another customer initiated investment related FINRA securities arbitration claim concerning Konecny’s conduct was settled for $750,000.00 in damages based on accusations of unauthorized margin use and that the customer’s account was overconcentrated in equities. FINRA Arbitration No. 17-02305. The claim alleges that Konecny made unsuitable trades. That customer’s claim against UBS Financial Services was resolved for $176,788.00 on February 28, 2019 and alleges that Konecny made misrepresentations regarding natural resource stocks and energy stocks.
Konecny is also the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $21,250.00 in damages supported by allegations that the customer was placed into unsuitable stocks because of Konecny at JP Morgan Securities. FINRA Arbitration No. 18-00273 (July 26, 2019). On November 7, 2019, another customer initiated investment related FINRA securities arbitration claim involving Konecny’s activities was resolved for $137,500.00 in damages founded on accusations of unsuitable transactions and the overconcentration of equities in the customer’s account. FINRA Arbitration No. 18-01205.
Konecny is also referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $30,000.00 in damages based upon allegations of overconcentration and unsuitable trading of stocks in the customer’s account by Konecny during the time that he was associated with JP Morgan Securities. FINRA Arbitration No. 18-00067 (Jan. 16, 2020).
FINRA Public Disclosure shows that Konecny has been barred from associating with any FINRA member in any capacity based on accusations that Konecny did not cooperate when asked to provide information about his activities. Case No. 2016049543601 (Nov. 21, 2017).
At the time of FINRA’s request for Konecny’s information, he was the subject of four customer disputes and had been discharged by JP Morgan Securities founded on allegations of his failure to comply with discretionary trading rules. FINRA suspended Konecny on September 11, 2017. He had until November 20, 2017 to provide the requested information to FINRA or otherwise seek termination of his suspension. Konecny did not respond to FINRA by the deadline and was automatically barred on November 21, 2017.
