Evan Schottenstein, Formerly of JPMorgan, Banned by FINRA Following Allegations of Trading Grandmother’s Assets Without Her Knowledge

Schottenstein is also accused of refusing to cooperate with FINRA’s investigation into his misconduct. 

Evan Schottenstein (CRD:4929175) was previously registered as a broker with J.P. Morgan from 2014 until 2019. Previously, Schottenstein was registered as a broker with Morgan Stanley from 2009 until 2014.

Schottenstein has six disclosures on his BrokerCheck report. Two customer disputes were denied.

April 2021 Regulatory Judgment

• Status: Final
• Initiated By: FINRA
• Allegations: Without admitting or denying the findings, Schottenstein consented to the sanction and to the entry of findings that he refused to provide on the record testimony requested by FINRA in connection with its investigation regarding issues raised in the Form U5 filed by his former member in which he was terminated for concerns relating to trading activity for the account for the account of a family member and the accuracy of the records regarding the same.
• Resolution: Acceptance, Waiver & Consent (AWC)
• Sanctions: Bar
• Registration Capacities Affected: All Capacities
• Duration: Indefinite
• Start Date: 4/7/2021

July 2019 Customer Dispute

• Status: Award / Judgment 
• Allegations: The Customer alleges the Registered Representative conducted several unauthorized and unsuitable transactions in her account and signed documentation regarding an investment purchase on her behalf without her knowledge. Activity dates 2014-2019
• Damage Amount Requested: $10,000,000.00
• Settlement Amount: $9,000,000.00

June 2019 Employment Separation After Allegations

• Firm Name: J.P. Morgan Securities, LLC
• Termination Type: Discharged
• Allegations: Concerns relating to trading activity for the account of a family member, and the accuracy of the records regarding the same. 

January 2019 Customer Dispute

• Status: Withdrawn
• Allegations: The client alleges that Registered Representative invested in a Private Fund and sold equities without the customers knowledge or consent. Activity dates January 10, 2014 – January 8, 2019
• Damage Amount Requested: $5,000.00

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Evan Schottenstein. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.