FINRA Bars JP Morgan Stockbroker In Investigation

Adrienne Jaime Mak of Hacienda Heights California a stockbroker formerly employed by JP Morgan Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on a FINRA Office of Hearing Officers Order Accepting Offer of Settlement based on findings that Mak failed to cooperate with FINRA’s investigation into accusations of the stockbroker’s forgery and unauthorized communication vehicles to discuss matters with securities clients. Department of Enforcement v. Adrienne Jaime Mak Disciplinary Proceeding No. 2018058657802 (July 7, 2020).

According to the Order, Mak was investigated by FINRA after the stockbroker had been terminated by JP Morgan Securities for allegedly violating policy. The stockbroker admitted to having signed a customer’s initials on an investment switch letter. The securities broker dealer also alleged that Mak used unapproved email accounts and other devices to correspond with customers. FINRA sought an explanation from Mak as to JP Morgan Securities’ allegations of misconduct.

FINRA’s requests went unanswered. Another request was made by the regulator on September 7, 2018. This letter had been returned to FINRA. Mak was subsequently sent a letter from FINRA personnel on October 10, 2018 which warned that the stockbroker would be suspended if there was no request for a hearing or otherwise compliance with FINRA’s requests. The stockbroker neglected to respond to this Notice of Suspension.

The Order revealed that Mak was issued a Suspension from Association letter on November 5, 2018. This letter warned the stockbroker that the failure to fully comply with FINRA’s requests or otherwise request the termination of suspension would result in an automatic bar. FINRA received a request from the stockbroker calling for the suspension to be lifted despite failing to comply with its requests. Mak’s request to terminate the suspension was denied on January 17, 2019.

FINRA determined that the information Mak failed to provide was critical to its investigation since it would determine if Mak violated FINRA rules or securities laws. The regulator noted that Mak did not respond in any manner to its September 2018 request relating to the accusations referenced by JP Morgan Securities. Mak’s failure to provide information constituted the violation of FINRA Rules 2010 and 8210.

Mak was employed by JP Morgan Securities from October 1, 2012 to May 25, 2018.