Edward Turley Investigation
March 2023– San Francisco, CA
According to publicly available records, Edward L. Turley, a broker previously with JP Morgan in San Francisco, CA, discloses 8 prior customer complaints, 2 pending customer disputes , a termination from employment and a bar from the securities industry.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In 11/2022 FINRA permanently barred Turley from the securities industry after he refused to provide on the record testimony in connection with a FINRA investigation related to trading in customer accounts using foreign currency and margin and the purchasing and selling of high yield bonds and preferred stock.
Four cases and a claim were filed by customers of JP Morgan Securities against Turley. They alleged, among other things: breach of contract and warranties; promissory estoppel; violation of Consumer Protection and Deceptive Trade Practices Act; violation of state securities laws; statutory fraud; breach of fiduciary duty; negligence and gross negligence; misrepresentation/omission and negligent misrepresentation and omission; unjust enrichment; failure to supervise; common law and statutory claims; and vicarious and control person liability; unsuitable recommendations, exercise of discretion and recommending an unapproved, outside investment; exercise of discretion and unsuitable investments. The cases were settled as follows:
- FINRA case#20-01669 – $4,000,000
- FINRA case #20-03012 – $6,100,000
- FINRA case #20-03022 – $8,214,856
- FINRA case #20-01881 – $12,000,000
- Claim 3/2022- $5,000,000
- FINRA case#21-03079 – $350,000
The alleged damages in one of the pending cases are as follows:
- FINRA case #22-1388 – $55,615,696
Turley was terminated from JP Morgan in August of 2021 as a result of allegations of loss of confidence concerning adherence to firm policies and brokerage order handling requirements. He had been with this firm since April of 2009.
If you have questions about an account handled by Edward Turley, call to speak with an experienced securities attorney. No charge for initial consultation.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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