JP Morgan broker Jasmit Singh allegedly participated in private securities transactions and engaged in outside business activities without providing prior written notice to the firm according to FINRA’s Letter of Acceptance, Waiver and Consent (AWC) under review by attorney Alan Rosca.
Investor rights attorney Alan Rosca of the Rosca Scarlato LLC law firm is investigating Jasmit Singh’s alleged participation in private securities transactions and engagement in outside business activities. Investors who are concerned about their investments with Singh are encouraged to contact attorney Alan Rosca or his colleagues for a free case evaluation and discussion of potential options by calling 888-998-0530, via email at arosca@rscounsel.law, and through the contact form on this webpage.
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Jasmit Singh Was Suspended, Fined, and Ordered to Pay Disgorgement
As alleged in the AWC, Jasmit Singh allegedly failed to provide written notice to his firm prior to marketing apparel, vaping products, and event promotion services through two e-commerce companies he co-owned, in addition to allegedly performing consulting services for a small business that was not a customer of the firm.
The AWC further alleges Singh received compensation for the outside business activities. Furthermore, Singh did not provide notice of his outside business activities to his firm and he inaccurately stated that he has no outside business activities to disclose during two annual compliance questionnaires.
In addition, broker Jasmit Singh allegedly solicited six investors who were not customers of JP Morgan to invest $500,000 in private placements offerings through a venture capital fund. Singh also allegedly received a total of $5,500 in finder’s fees related to these transactions, as alleged in the AWC.
Singh allegedly informed investors about the offerings with the intent to encourage them to invest and introduce them to a general partner of the fund and facilitate the transactions by sending the investors subscription agreements and wiring instructions that he received from the general partner, as stated in the AWC.
As a result of Singh’s alleged misconduct, he accepted and consented to FINRA’s findings and signed the AWC which included a seven-month suspension from associating with any FINRA member firm in any capacity, a $10,000 fine, and disgorgement of $5,500.
Investors who are concerned about their investment with Singh are encouraged to contact attorney Alan Rosca or his colleagues for a free case evaluation and discussion of potential options. Call 888-998-0530, send an email to arosca@rscounsel.law, or through the contact form on the webpage.
FINRA’s Rule on Outside Business Activities
According to FINRA Rule 3270, and without offering any legal advice to anyone, a registered broker or investment adviser may not engage in any activity outside the scope of the relationship with the member firm, unless a prior notice was given in writing to the member firm. Broker dealers firms have the responsibility to determine whether the activity in which a broker intends to engage or is engaged in has the potential to interfere or affect on any way their broker’s responsibilities.
Jasmit Singh Was Registered with FINRA for Two Years
According to Singh’s FINRA Brokercheck page, he recently joined FINRA in August 2017. He was employed with JP Morgan Securities located in New York, New York from August 2017 until February 2020.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Potential Options for Jasmit Singh Investors
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or broker misconduct and is currently investigating broker Jasmit Singh’s alleged participation in private securities transactions.
The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who are concerned about their investment with Jasmit Singh are encouraged to contact Alan Rosca for a free no-obligation evaluation of their potential options, or to provide any useful information and learn about your rights. Call 888-998-0530, send an email to arosca@rscounsel.law, or through the contact form on this webpage.