Financial Planning discusses IMcP-led FINRA arbitration: “Arbitrators blast JPMorgan for ‘pattern’ of post-resignation firings”

A second national trade publication highlighted the IMcP-led FINRA victory regarding expungement of our client’s Form U5. Financial Planning published an article titled “Arbitrators blast JPMorgan for ‘pattern’ of post-resignation firings” to report on the FINRA arbitration award in which IMcP secured expungement of JPMorgan’s termination language on advisor Joshua Biering’s Form U5.

In the award, the arbitrators directed that Mr. Biering’s U5 be amended to (a) reflect a voluntary resignation and (b) remove additional, adverse language originally inserted by JPMorgan. The panel went further, finding that “one of the primary reasons for the timing of the filing of the U-5 was to hinder [Mr. Biering]’s ability to transfer his book of business to a competitor of” JPMorgan. The arbitrators also expressed “concerns” about what they viewed as “a pattern of conduct” at JPMorgan: investigating supposed reasons to terminate advisors after resignation to make moving to a competitor more difficult.

Joshua Iacuone served as lead counsel in FINRA case number 24-01208, working closely with IMcP partners Greg McAllister and Anna Richardson. Readers can view the coverage in Financial Planning below.

Ex-JPMorgan Advisor Gets U-5 Firing Expunged by arb panel | Financial Planning