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Former JPMorgan Employee Fined and Suspended by FINRA for Data Misuse

18.08.2024 19:00 1 min. read Alexander Stefanov
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Former JPMorgan Employee Fined and Suspended by FINRA for Data Misuse

A former JPMorgan employee is facing disciplinary action from the Financial Industry Regulatory Authority (FINRA) for alleged breaches of regulations.

Dale Self has been fined $5,000 and suspended from interacting with FINRA members for 15 business days. The penalties stem from accusations that Self improperly collected personal data from over 200 J.P. Morgan Securities clients without their or his employer’s consent.

Self, who worked at JPMorgan Chase’s investment management division for more than ten years, is said to have taken notes containing sensitive customer information—including dates of birth, Social Security numbers, and financial details—into a personal notebook.

FINRA asserts that Self intended to use this information for a future job at a competing firm, preparing account forms and customer software in advance of transferring these clients’ accounts.

Self has since returned the data to J.P. Morgan Securities at their request and has settled the case with FINRA without admitting to or denying the charges.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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