What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: March 2, 2016

Two former JP Morgan traders, Andrew Lombara and Chi Lee, were allegedly dismissed from the firm over disagreements on the amount of reserves taken for treasury trades. The two men hoped to increase the size of the reserve and did so without consulting the firm’s valuation committee. JP Morgan viewed this as a violation of its internal procedures. The dismissals occurred at the same time that JP Morgan announced an 11% decline in fixed income revenues, due to increased regulatory pressures.

Andrew Lombara was registered with Prudential Securities Inc., Merrill Lynch, HSBC Securities, and JP Morgan in New York, New York from March 2005 until February 2016. He is not licensed within the industry. Chi Lee was registered with HSBC Securities and JP Morgan Securities in New York, New York from May 2006 until February 2016. He is not licensed within the industry, according to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report. Please call us to find out how to bring a claim against JP Morgan Securities. The call is free.

Disclaimer

The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.

Chicago Investment Fraud Attorneys Offering Nationwide Representation to Investors

If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

Stoltmann Law Securities Investment Fraud Attorneys