Former JPMorgan Employee Fined and Suspended for Mishandling Customer Data

Dale Self, a former general securities representative at J.P. Morgan Securities, is facing penalties from the Financial Industry Regulatory Authority (FINRA) for improperly handling customer information.

Violation Details

FINRA has imposed a $5,000 fine on Self and suspended him from associating with its members for 15 business days.

The issue stems from Self taking personal information of over 200 J.P. Morgan Securities customers without consent, including sensitive details like dates of birth, social security numbers, and financial account numbers.

Preparation for a Move

Self took these handwritten notes while still employed at J.P. Morgan Securities, in anticipation of joining a rival firm.

Before officially leaving, he allegedly shared this nonpublic information with his prospective employer.

The data was reportedly used to prepare new account forms and to populate customer relationship management software, with the goal of transferring these clients to the new firm.

Resolution

At the request of his former employer, Self eventually returned the customer information.

He has settled with FINRA without admitting or denying the allegations.