Jump to Navigation
Life Member | Million Dollar Advocates-Forum | Multi-Million Dollar Advocates Forum | The Top Trial Lawyers In America TM

Theresa I. Reyes Barred from the Securities Industry by FINRA for Converting Customer's Funds

Theresa I. Reyes, a former registered representative with Chicago, Illinois based Chase Investment Services Corp. (JPMorgan Chase Bank NA), submitted an Offer of Settlement in which she consented to the entry of the Financial Industry Regulatory Authority's (FINRA) findings that she repeatedly used her capacity as a personal banker at JPMorgan Chase Bank to engage in activity in a customer's business credit card account without the customer's knowledge or authorization. FINRA said that Ms. Reyes' unauthorized actions included adding her husband as an authorized user, requesting that a credit card be issued on the account in her husband's name, and increasing the customer's credit limit. Ms. Reyes also set up an online credit card account profile for the customer, enrolled the customer in the bank's online payment service, and made a payment to the credit card account. After JPMorgan Chase Bank removed Ms. Reyes' husband from the credit card account at the customer's request, Ms. Reyes arranged for her husband to be added back as an authorized user and also requested that another card be issued in her husband's name and sent to her branch bank location. FINRA also said that over a period of more than two months, Ms. Reyes and her husband converted approximately $15,277.35 of the customer's funds by charging several unauthorized personal expenses to the customer's credit card account. FINRA further included that Ms. Reyes failed to appear for testimony FINRA requested. Ms. Reyes, of San Diego, California, was barred from association with any FINRA member in any capacity.

Broker-dealers must establish and implement a reasonable supervisory system to protect customers from broker misconduct. If broker-dealers do not establish and implement a reasonable supervisory system, they may be liable to investors for damages flowing from the misconduct. Therefore, investors who have suffered losses due to acts of misconduct similar to Ms. Reyes' can bring forth claims to recover losses against Chase Investment Services, which should have prevented Ms. Reyes from conducting the above described illegal activity. Have you suffered losses in your Chase Investment Services Corp. account due to broker misconduct? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation.

The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 30 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.

No Comments

Leave a comment
Comment Information
Rated by Super Lawyers | Robert W. Pearce | visit superlawyers.com
LexisNexis | Martindale-Hubbell | AV PREEMINENT |For Ethical Standards and Legal Ability | 2013 | Robert Wayne Pearce

E-Mail Mr. Pearce

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Contact Information

1499 West Palmetto Park Road
Suite 400
Boca Raton, FL 33486
Email: pearce@rwpearce.com
Toll Free: 800-732-2889
Phone: 561-338-0037
Fax: 561-338-9310
Map and Directions