FINRA Suspends Former J.P. Morgan Broker Over Unlawful Trades

Trevor Rahn, a 26-year brokerage industry veteran and former J.P Morgan was fined and suspended by The Financial Industry Regulatory Authority (FINRA) over allegations that he structured trades to generate unnecessary commissions and made several unauthorized trades from January 2014 to September 2018. 

Mr. Rahn, a former securities broker at J.P. Morgan, recently agreed to the authorities’ 18-month suspension and $10,000 fine. 

Broker Inappropriately Advised Clients For Excessive Commissions

According to FINRA, the former broker, who joined J.P. Morgan from Deutsche Bank in 2010, inappropriately advised an "average pricing" investment strategy that broke larger trades into multiple smaller transactions that generated excessive commissions. 

He also executed over 577 unapproved trades over two years and mismarked roughly 4,714 transactions as unsolicited.

J.P Morgan Settled $910K To Former Clients

J.P. Morgan fired Mr. Rahn in September 2018 for "unacceptable practices." According to records, due to inconsistencies related to the timing and size of transaction charges in a client account and the marking of several orders as unsolicited. 

Since 2016, the firm has paid $910,621 in settlements with five of Rahn's former clients. And according to records, Mr. Rahn did not contribute to the settlements, which involved complaints about illegal and excessive trading in equities, real estate investment trusts, and closed-end funds. 

The day after his termination, Jacqueline Rahn (his wife), who had worked alongside her husband for 20 years, left to join Merrill Lynch's private wealth management group.

According to BrokerCheck, Trevor Rahn started his career at Merrill Lynch in 1992, moved to Morgan Stanley in 1999, and later joined Deutsche Bank in 2008. Jacqueline, on the other hand, began her brokerage career at Merrill in 1996. 

Speak with an Investment Fraud Attorney

Our AV-rated* investment fraud lawyers have extensive experience litigating a broad range of cases including stockbroker and brokerage misconduct. If you are looking for an investment fraud attorney to review your rights and options, the investment fraud lawyers at Dimond Kaplan & Rothstein, P.A. have a proven track record of getting results for clients. 

Contact Dimond Kaplan & Rothstein Today

Contact an investment fraud attorney at Dimond Kaplan & Rothstein, P.A. to schedule a FREE case evaluation. Our offices are located in Los AngelesNew YorkDetroitWest Palm BeachNaples, and Miami, and we represent clients nationwide. Translation services are available

Share This Story

Share your experience with investment fraud, and contribute to a community dedicated to protection and empowerment. Together, we can unveil strategies, share insights, and build a shield against financial deceit.

Let’s Discuss Your Case Today

When fighting for your rights, you may go up against some dangerous enemies. You want an attorney flying by your side to help navigate you through the twists and turns of the legal system. 

I Want To...
No Recovery, No Fees (888) 578-6255

Subscribe to our email!

Subscribe to our email!

Subscribe to our email!

uploadmagnifiercross linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram