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JP Morgan's Farid Morim Barred After Conversion Investigation

FINRA barred Farid Morim, formerly Vice President of JP Morgan's Beverly Hills, California branch, after a lengthy investigation into allegations that Morim converted customer assets and engaged in an undisclosed outside business activity. Morim failed to respond to multiple requests for information over the course of FINRA's 18-month investigation.

OHO Decision #2015047528202

According to the proceedings, JP Morgan terminated Morim (CRD #5023477)'s registration based on allegations that he improperly added himself as power of attorney on a client's bank account, with the firm launching an internal review into potential conversion of another customer's funds.

Shortly thereafter, FINRA issued Morim a suspension in October 2016 for failing to respond to a request for information, following the action with a second suspension in August 2017 for failing to comply with an arbitration award or settlement agreement or to satisfactorily respond to FINRA's request to provide information as to the status of compliance.

According to Morim's BrokerCheck file, a client in 2014 alleged misrepresentation regarding a mutual funds investment, resulting in a 2015 settlement.

For his part, Morim accused JP Morgan of wrongful termination, and subsequently failed to appear for his arbitration hearing.

If you have invested with former JP Morgan (Beverly Hills) representative Farid Morim or with any broker or financial adviser who has converted funds or engaged in undisclosed and unauthorized outside business activities that have proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

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The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.
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