BRADLEY TRENT COVEY

BRADLEY TRENT COVEY is currently employed as a Broker and/or Investment Adviser at J.P. MORGAN SECURITIES LLC located at 10411 WESTHEIMER, HOUSTON, TX, 77042.

BRADLEY TRENT COVEY has worked at J.P. MORGAN SECURITIES LLC since October 01, 2012

Disclosure History

BRADLEY TRENT COVEY has 3 Disclosure Event(s).

Date: May 07, 2008
Category: Customer Dispute
Allegations: CLIENT ALLEGES MISREPRESENTATION RELATING TO THE LIQUIDITY OF AN AUCTION RATE SECURITIES PURCHASE. DAMAGES ARE UNSPECIFIED.
Settlement Amount: $250,000.00
Broker Comment: THE AUCTION RATE SECURITIES (ARS) WERE SOLD TO THE CLIENT BASED ON THE TRAINING AND INFORMATION PROVIDED TO ME BY MY FIRM. THE CLIENT UNDERSTANDS THAT I HAD NO INTENT TO DECEIVED OR TO MISREPRESENT LIQUIDITY FEATURES OF THE ARS PRODUCT. IN AUGUST OF 2008 THE FIRM ENTERED INTO A SETTLEMENT AGREEMENT WITH THE STATE OF FLORIDA AND THE NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATION TASK FORCE. THE SETTLEMENT AGREEMENT PROVIDED THAT THE FIRM WOULD BUY BACK AT PAR INDIVIDUAL AUCTION RATE SECURITIES POSITIONS FOR CLIENTS WITH ASSETS AT JPMORGAN CHASE UNDER 10,000,000.00. THE CLIENTS' ARS POSITIONS, AND ALL OTHER FIRM CLIENTS WHO MET THE CRITERIA OF THE SETTLEMENT AGREEMENT, WERE REPURCHASED AT PAR VALUE. I CONTINUE TO WORK WITH THIS CLIENT AND THEY HAVE CONFIRMED TO ME DIRECTLY THAT THEY WILL PROVIDE ME A POSITIVE REFERENCE IF REQUESTED.ON AUGUST 13 AND 14, 2008, JPMORGAN CHASE AGREED TO A SETTLEMENT IN PRINCIPLE WITH THE NEW YORK ATTORNEY GENERAL'S OFFICE, AND THE OFFICE OF FINANCIAL REGULATION FOR THE STATE OF FLORIDA AND THE NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATION TASK FORCE, RESPECTIVELY, WHICH PROVIDED, AMONG OTHER THINGS, THAT THE FIRM WOULD BUY BACK AT PAR CERTAIN AUCTION RATE SECURITIES. AS PART OF THESE SETTLEMENTS, JP MORGAN SECURITIES, INC., PURCHASED BACK FROM CUSTOMERS ARS POSITION(S) AT PAR, IN ADDITION TO PAYING ACCRUED INTEREST ON THE PAR AMOUNT.

Date: April 04, 2008
Category: Customer Dispute
Allegations: CLIENT ALLEGES MISREPRESENTATION RELATING TO THE LIQUIDITY OF AN AUCTION RATE SECURITIES PURCHASE. DAMAGES ARE UNSPECIFIED.
Settlement Amount: $650,000.00
Broker Comment: THE AUCTION RATE SECURITIES (ARS) WERE SOLD TO THE CLIENT BASED ON THE TRAINING AND INFORMATION PROVIDED TO ME BY MY FIRM. THE CLIENT UNDERSTANDS THAT I HAD NO INTENT TO DECEIVED OR TO MISREPRESENT LIQUIDITY FEATURES OF THE ARS PRODUCT. IN AUGUST OF 2008 THE FIRM ENTERED INTO A SETTLEMENT AGREEMENT WITH THE STATE OF FLORIDA AND THE NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATION TASK FORCE. THE SETTLEMENT AGREEMENT PROVIDED THAT THE FIRM WOULD BUY BACK AT PAR INDIVIDUAL AUCTION RATE SECURITIES POSITIONS FOR CLIENTS WITH ASSETS AT JPMORGAN CHASE UNDER 10,000,000.00. THE CLIENTS' ARS POSITIONS, AND ALL OTHER FIRM CLIENTS WHO MET THE CRITERIA OF THE SETTLEMENT AGREEMENT, WERE REPURCHASED AT PAR VALUE. I CONTINUE TO WORK WITH THIS CLIENT AND THEY HAVE CONFIRMED TO ME DIRECTLY THAT THEY WILL PROVIDE ME A POSITIVE REFERENCE IF REQUESTED.ON AUGUST 13 AND 14, 2008, JPMORGAN CHASE AGREED TO A SETTLEMENT IN PRINCIPLE WITH THE NEW YORK ATTORNEY GENERAL'S OFFICE, AND THE OFFICE OF FINANCIAL REGULATION FOR THE STATE OF FLORIDA AND THE NORTH AMERICAN SECURITIES ADMINISTRATORS ASSOCIATION TASK FORCE, RESPECTIVELY, WHICH PROVIDED, AMONG OTHER THINGS, THAT THE FIRM WOULD BUY BACK AT PAR CERTAIN AUCTION RATE SECURITIES. AS PART OF THESE SETTLEMENTS, JP MORGAN SECURITIES, INC., PURCHASED BACK FROM CUSTOMERS ARS POSITION(S) AT PAR, IN ADDITION TO PAYING ACCRUED INTEREST ON THE PAR AMOUNT.

Date: June 04, 2001
Category: Customer Dispute
Allegations: CLIENTS ALLEGE IE MADE UNSUITABLE INVESTMENT RECOMMENDATIONS BETWEEN 6/00-2/01 IN OPTIONS AND STOCK. CLIENTS FURTHER ALLEGE CHURNING &MISREPRESENTATIONS
Damage Amount Requested: $10,000,000.00
Settlement Amount: $1,045,000.00
Broker Comment: FIRM SETTLED IN MEDIATION. I WAS NOT INVOLVED IN THE MEDIATION OR CONSULTED IN ANY MANNER. I WAS NOT ASKED TO PARTICIPATE OR CONTRIBUTE FINANCIALLY TO THE SETTLEMENT.

More Information

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