The Financial Industry Regulatory Authority Inc. has barred David Austin, a former broker with J.P. Morgan, for misappropriating $144,000 from three customers.
Austin, who was fired by the bank in May, forged withdrawal slips for three bank customers, two of whom were over 90 years old, and made unauthorized cash withdrawals from their accounts, which he kept for his personal use.
He also transferred funds from the joint bank account of two of these customers to his personal bank account without authorization. The thefts took place from January 2019 through March 2020.
Austin had worked for the bank in Grand Rapids, Mich., since 2016.
By listening for what truly matters and where clients want to make a difference, advisors can avoid politics and help build more personal strategies.
JPMorgan and RBC have also welcomed ex-UBS advisors in Texas, while Steward Partners and SpirePoint make new additions in the Sun Belt.
Counsel representing Lisa Cook argued the president's pattern of publicly blasting the Fed calls the foundation for her firing into question.
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