FINRA permanently barred a former broker with JP Morgan Securities from the industry for allegedly misappropriating funds from several JP Morgan brokerage and Chase Bank customers, according to a settlement letter FINRA made public last week.
Nancy Sue Hogan, who worked in the firm's Jeffersonville, Ind., office, voluntarily resigned from JP Morgan Securities in March, the regulator said.
FINRA declined to provide details of Hogan's alleged misconduct beyond what was in the filing claiming she misused customer funds. According to BrokerCheck, Hogan issued ATM and credit cards from bank customer accounts and withdrew money and made credit card purchases for her own personal use. It did not disclose the amount of money she attempted to swipe from customers.
Hogan refused to cooperate with FINRA's investigation, ignoring the regulator's requests for information. In the settlement letter with FINRA, Hogan neither admitted nor denied the charges, but consented to an entry of FINRA's findings. Efforts to reach Hogan were unsuccessful.
Robert Carosella, Jr., a spokesperson for JP Morgan Securities, declined to comment.
FINRA's action follows the banishment last month of a former JP Morgan Securities registered rep trainee. Luciano Andres Battioli, who was also a Chase Bank personal banker, was banned from the brokerage industry for allegedly forging bank withdrawal forms for the accounts of two bank customers. According to FINRA, Battioli used the forged withdrawal slips to withdraw $100 and $121 from the customers' accounts without their permission. He used the funds to pay his father's credit card bill, FINRA said.
Battioli became associated with JP Morgan Securities in July 2013 and remained associated with the firm in a non-registered capacity until November 2013, when the alleged misconduct occurred. JP Morgan Securities fired Battioli in December, following his dismissal from Chase Bank.
Like Hogan, Battioli neither admitted nor denied the charges but consented to an entry of FINRA's findings. He could not be reached for comment.
Darin Oduyoye, a spokesperson for JP Morgan Securities, declined to comment on Battioli's dismissal from the firm and his expulsion from the industry.
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