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J.P. Morgan Terminated Robert A. Douglass for Alleged Unauthorized Trading

Robert A. Douglass (CRD#: 4262487) is a dually registered Broker and Investment Advisor at Arkadios Capital in Atlanta, GA.

Broker’s Background

He entered the securities industry in 2000 and previously worked for J.P. Morgan Securities, LLC; Credit Suisse Securities (USA); and Goldman, Sachs & Co.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in October 2021, Robert A. Douglass was discharged by J.P. Morgan Chase Bank, N.A. The allegation states, “Registered Rep was terminated for executing investment purchases without first obtaining the customer’s permission; and for obtaining a customer’s on-line login information to confirm the customer’s account balances. The RR states he did so at the insistence of the customer. No known customer harm at the time of filing.”

In addition, Robert A. Douglass has been the subject of one customer complaint, including one that remains pending, including the following:

  • May 2021 – “Claimant, through Power of Attorney, alleges the registered rep recommended an unsuitable investment. Activity dates 2008-2021.” Damages of $900,000 are requested. The customer dispute remains pending.

For a copy of Robert A. Douglass’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

FINRA regulations require that a customer’s written authorization is required before a broker-dealer can carry out transactions in the customer’s account. In addition, the broker-dealer’s member firm needs to approve the broker-dealer’s authorization. These measures are intended to protect the customer. Discretionary trading allows the broker-dealer to unilaterally decide to buy or sell securities at any price and not have to check with the client first. Exercising discretion without authorization can be costly to investors, and broker-dealers and their member firms, too.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis.  Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.

Attorney Matthew Wolper

Attorney Matthew WolperMatt Wolper is a trial lawyer who focuses exclusively on securities litigation and arbitration. Mr. Wolper has handled hundreds of securities matters nationwide before the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (“AAA”), JAMS, and in state and federal court. Mr. Wolper has handled and tried cases involving complex financial products and strategies ranging from traditional stocks and bonds to options, margin and other securities-based lending products, closed/open-end mutual funds, structured products, hedge funds, and penny stocks. [Attorney Bio]