Robert Owen Klein - FINRA BrokerCheck Report

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BrokerCheck report for Robert Owen Klein. It is uploaded here by Vernon Healy law firm. To learn more about your broker, please visit investigate your broker, or call us at 877-649-5394.

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Robert Owen Klein - FINRA BrokerCheck Report

  1. 1. BrokerCheck Report ROBERT OWEN KLEIN CRD# 1254422 Report #58900-41969, data current as of Friday, September 27, 2013. Section Title Page(s) Report Summary 1 Broker Qualifications 2-5 Registration and Employment History 6 Disclosure Events 7
  2. 2. About BrokerCheck® BrokerCheck offers information on all current-and many former-FINRA-registered securities brokers, and all current and former FINRA-registered securities firms. FINRA strongly encourages investors to use BrokerCheck to check the background of securities brokers and brokerage firms before deciding to conduct, or continue to conduct, business with them. · · · · · What is included in a BrokerCheck report? BrokerCheck reports for individual brokers include information such as employment history, professional qualifications, disciplinary actions, criminal convictions, civil judgments and arbitration awards. BrokerCheck reports for brokerage firms include information on a firm’s profile, history, and operations, as well as many of the same disclosure events mentioned above. Please note that the information contained in a BrokerCheck report may include pending actions or allegations that may be contested, unresolved or unproven. In the end, these actions or allegations may be resolved in favor of the broker or brokerage firm, or concluded through a negotiated settlement with no admission or finding of wrongdoing. Where did this information come from? The information contained in BrokerCheck comes from FINRA’s Central Registration Depository, or CRD® and is a combination of: o information FINRA and/or the Securities and Exchange Commission (SEC) require brokers and brokerage firms to submit as part of the registration and licensing process, and o information that regulators report regarding disciplinary actions or allegations against firms or brokers. How current is this information? Generally, active brokerage firms and brokers are required to update their professional and disciplinary information in CRD within 30 days. Under most circumstances, information reported by brokerage firms, brokers and regulators is available in BrokerCheck the next business day. What if I want to check the background of an investment adviser firm or investment adviser representative? To check the background of an investment adviser firm or representative, you can search for the firm or individual in BrokerCheck. If your search is successful, click on the link provided to view the available licensing and registration information in the SEC's Investment Adviser Public Disclosure (IAPD) website at http://www.adviserinfo.sec.gov. In the alternative, you may search the IAPD website directly or contact your state securities regulator at http://www.nasaa.org. Are there other resources I can use to check the background of investment professionals? FINRA recommends that you learn as much as possible about an investment professional before deciding to work with them. Your state securities regulator can help you research brokers and investment adviser representatives doing business in your state. Thank you for using FINRA BrokerCheck. Using this site/information means that you accept the FINRA BrokerCheck Terms and Conditions. A complete list of Terms and Conditions can be found at brokercheck.finra.org For additional information about the contents of this report, please refer to the User Guidance or www.finra.org/brokercheck. It provides a glossary of terms and a list of frequently asked questions, as well as additional resources. For more information about FINRA, visit www.finra.org.
  3. 3. www.finra.org/brokercheck User Guidance Report Summary for this Broker ROBERT O. KLEIN CRD# 1254422 Currently employed by and registered with the following FINRA Firm(s): J.P. MORGAN SECURITIES LLC 660 NEWPORT CENTER DRIVE SUITE 750 NEWPORT BEACH, CA 92660 CRD# 79 Registered with this firm since: 01/09/1995 This report summary provides an overview of the broker's professional background and conduct. Additional information can be found in the detailed report. Broker Qualifications This broker is registered with: 13 Self-Regulatory Organizations 42 U.S. states and territories Is this broker currently suspended or inactive with any regulator? No Disclosure Events Disclosure events are certain criminal matters; regulatory actions; civil judicial proceedings; customer complaints, arbitrations, or civil litigations; employment terminations; and financial matters in which the broker has been involved. This broker has passed: 0 Principal/Supervisory Exams 4 General Industry/Product Exams 2 State Securities Law Exams Registration History This broker was previously registered with FINRA at the following brokerage firms: MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED CRD# 7691 NEW YORK, NY 09/1989 - 01/1995 DEAN WITTER REYNOLDS INC. CRD# 7556 PURCHASE, NY 01/1985 - 09/1989 ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. Are there events disclosed about this broker? Yes The following types of disclosures have been reported: Type Count 8 Customer Dispute Investment Adviser Representative Information This individual is registered as a broker and an investment adviser representative. For more information about this individual’s record as an investment adviser representative, visit SEC's Investment Adviser Public Disclosure website at: http://www.adviserinfo.sec.gov 1
  4. 4. www.finra.org/brokercheck User Guidance Broker Qualifications Registrations This section provides the self-regulatory organizations (SROs) and U.S. states/territories the broker is currently registered and licensed with, the category of each registration, and the date on which the registration became effective. This section also provides, for every brokerage firm with which the broker is currently employed, the address of each branch where the broker works. This individual is currently registered with 13 SROs and is licensed in 42 U.S. states and territories through his or her employer. Employment 1 of 1 Firm Name: J.P. MORGAN SECURITIES LLC Main Office Address: 383 MADISON AVENUE NEW YORK, NY 10179 Firm CRD#: 79 SRO Category Status Date FINRA General Securities Representative APPROVED 01/09/1995 BOX Options Exchange LLC General Securities Representative APPROVED 05/11/2012 C2 Options Exchange, Incorporated General Securities Representative APPROVED 01/06/2012 Chicago Board Options Exchange General Securities Representative APPROVED 01/09/1995 Chicago Stock Exchange General Securities Representative APPROVED 01/06/2012 International Securities Exchange General Securities Representative APPROVED 01/10/2008 NASDAQ OMX BX, Inc. General Securities Representative APPROVED 09/30/2009 NASDAQ OMX PHLX, Inc. General Securities Representative APPROVED 01/09/1995 NASDAQ Stock Market General Securities Representative APPROVED 07/12/2006 NYSE Arca, Inc. General Securities Representative APPROVED 01/09/1995 NYSE MKT LLC General Securities Representative APPROVED 01/09/1995 New York Stock Exchange General Securities Representative APPROVED 01/09/1995 Topaz Exchange, LLC General Securities Representative APPROVED 08/02/2013 U.S. State/ Territory Category Status Date U.S. State/ Territory Category Status Date Alabama Agent APPROVED 10/12/2006 California Agent APPROVED 01/13/1995 Arizona Agent APPROVED 08/28/1997 Colorado Agent APPROVED 04/29/2008 ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 2
  5. 5. www.finra.org/brokercheck User Guidance Broker Qualifications Employment 1 of 1, continued U.S. State/ Territory Category Status Date U.S. State/ Territory Category Status Date Connecticut Agent APPROVED 05/09/2008 Ohio Agent APPROVED 07/10/2008 Delaware Agent APPROVED 07/09/2008 Oklahoma Agent APPROVED 01/09/2006 District of Columbia Agent APPROVED 07/09/2008 Oregon Agent APPROVED 04/05/2002 Pennsylvania Agent APPROVED 01/09/1995 Florida Agent APPROVED 04/12/2002 Rhode Island Agent APPROVED 07/15/2013 Georgia Agent APPROVED 10/12/2006 South Carolina Agent APPROVED 06/16/2008 Hawaii Agent APPROVED 07/09/2008 Tennessee Agent APPROVED 04/30/2008 Idaho Agent APPROVED 11/07/2007 Texas Agent APPROVED 01/09/1995 Illinois Agent APPROVED 03/14/2007 Utah Agent APPROVED 06/12/2003 Indiana Agent APPROVED 10/12/2006 Virgin Islands Agent APPROVED 09/25/2013 Kentucky Agent APPROVED 05/01/2009 Virginia Agent APPROVED 01/09/1995 Louisiana Agent APPROVED 04/30/2008 Washington Agent APPROVED 01/09/2006 Maryland Agent APPROVED 01/09/1995 Wisconsin Agent APPROVED 01/09/1995 Massachusetts Agent APPROVED 01/09/1995 Wyoming Agent APPROVED 02/28/2006 Michigan Agent APPROVED 04/29/2008 Mississippi Agent APPROVED 10/12/2006 Missouri Agent APPROVED 10/07/2002 Montana Agent APPROVED 06/02/2008 Nebraska Agent APPROVED 07/09/2008 Nevada Agent APPROVED 01/09/2006 New Hampshire Agent APPROVED 07/01/2010 New Jersey Agent APPROVED 05/05/2003 New Mexico Agent APPROVED 05/27/2008 New York Agent APPROVED 03/22/2002 North Carolina Agent APPROVED 08/28/1997 ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 3
  6. 6. www.finra.org/brokercheck User Guidance Broker Qualifications Employment 1 of 1, continued Branch Office Locations J.P. MORGAN SECURITIES LLC 660 NEWPORT CENTER DRIVE SUITE 750 NEWPORT BEACH, CA 92660 ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 4
  7. 7. www.finra.org/brokercheck User Guidance Broker Qualifications Industry Exams this Broker has Passed This section includes all securities industry exams that the broker has passed. Under limited circumstances, a broker may attain a registration after receiving an exam waiver based on exams the broker has passed and/or qualifying work experience. Any exam waivers that the broker has received are not included below. This individual has passed 0 principal/supervisory exams, 4 general industry/product exams, and 2 state securities law exams. Principal/Supervisory Exams Exam Category Date Exam Category Date National Commodity Futures Examination Series 3 07/10/1986 Interest Rate Options Examination Series 5 08/24/1988 General Securities Representative Examination Series 7 04/14/1984 Foreign Currency Options Examination Series 15 04/05/1988 Exam Category Date Uniform Securities Agent State Law Examination Series 63 04/25/1984 Uniform Investment Adviser Law Examination Series 65 10/10/1994 No information reported. General Industry/Product Exams State Securities Law Exams Additional information about the above exams or other exams FINRA administers to brokers and other securities professionals can be found at www.finra.org/brokerqualifications/registeredrep/. ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 5
  8. 8. www.finra.org/brokercheck User Guidance Registration and Employment History Registration History This broker previously was registered with FINRA at the following firms: Registration Dates Firm Name CRD# Branch Location 09/1989 - 01/1995 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 7691 NEW YORK, NY 01/1985 - 09/1989 DEAN WITTER REYNOLDS INC. 7556 PURCHASE, NY Employment History Below is the broker's employment history for up to the last 10 years. Please note that the broker is required to provide this information only while registered with FINRA and the information is not updated after the broker ceases to be registered. Therefore, an employment end date of "Present" may not reflect the broker's current employment status. Employment Dates Employer Name Employer Location 10/2010 - Present JPMORGAN CHASE BANK, N.A. LOS ANGELES, CA 10/2008 - Present J.P.MORGAN SECURITIES INC. NEWPORT BEACH, CA 01/1995 - 10/2008 BEAR, STEARNS & CO. INC. LOS ANGELES, CA Other Business Activities This section includes information, if any, as provided by the broker regarding other business activities the broker is currently engaged in either as a proprietor, partner, officer, director, employee, trustee, agent or otherwise. This section does not include non-investment related activity that is exclusively charitable, civic, religious or fraternal and is recognized as tax exempt. EFFECTIVE OCTOBER 1, 2010, I WILL BE AN EMPLOYEE OF BOTH J.P. MORGAN SECURITIES LLC AND JPMORGAN CHASE BANK, N.A. ("JPMCB"). JPMCB OFFERS A BROAD RANGE OF PRODUCTS AND SERVICES NATIONWIDE. AS AN EMPLOYEE OF JPMCB, I WILL BE ABLE TO OFFER CERTAIN BANK PRODUCTS AND SERVICES, INCLUDING DEPOSIT AND CREDIT PRODUCTS AND DISCRETIONARY INVESTMENT MANAGEMENT. ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 6
  9. 9. www.finra.org/brokercheck User Guidance Disclosure Events What you should know about reported disclosure events: 1. Disclosure events are certain criminal matters; regulatory actions; civil judicial proceedings; customer complaints, arbitrations, or civil litigations; employment terminations; and financial matters in which the broker has been involved. 2. Certain thresholds must be met before an event is reported to CRD, for example: o A law enforcement agency must file formal charges before a broker is required to report a particular criminal event. o A customer dispute must involve allegations that a broker engaged in activity that violates certain rules or conduct governing the industry and that the activity resulted in damages of at least $5,000. 3. Disclosure events in BrokerCheck reports come from different sources: o As mentioned at the beginning of this report, information contained in BrokerCheck comes from brokers, brokerage firms and regulators. When more than one of these sources reports information for the same disclosure event, all versions of the event will appear in the BrokerCheck report. The different versions will be separated by a solid line with the reporting source labeled. 4. There are different statuses and dispositions for disclosure events: o A disclosure event may have a status of pending, on appeal, or final. § A "pending" disclosure event involves allegations that have not been proven or formally adjudicated. § A disclosure event that is "on appeal" involves allegations that have been adjudicated but are currently being appealed. § A "final" disclosure event has been concluded and its resolution is not subject to change. o A final disclosure event generally has a disposition of adjudicated, settled or otherwise resolved. § An "adjudicated" matter includes a disposition by (1) a court of law in a criminal or civil matter, or (2) an administrative panel in an action brought by a regulator that is contested by the party charged with some alleged wrongdoing. § A "settled" matter generally represents a disposition wherein the parties involved in a dispute reach an agreement to resolve the matter. Please note that brokers and brokerage firms may choose to settle customer disputes or regulatory matters for business or other reasons. § A "resolved" matter usually includes a disposition wherein no payment is made to the customer or there is no finding of wrongdoing on the part of the individual broker. Such matters generally involve customer disputes. For your convenience, below is a matrix of the number and status of disclosure events involving this broker. Further information regarding these disclosure events can be found in the subsequent pages of this report. You also may wish to contact the broker to obtain further information regarding the disclosure events. ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 7
  10. 10. www.finra.org/brokercheck User Guidance Pending Customer Dispute ©2013 FINRA. All rights reserved. Final On Appeal 5 3 N/A Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 8
  11. 11. www.finra.org/brokercheck User Guidance Disclosure Event Details When evaluating this information, please keep in mind that a discloure event may be pending or involve allegations that are contested and have not been resolved or proven. The disclosure event may, in the end, be withdrawn, dismissed, resolved in favor of the broker, or concluded through a negotiated settlement for certain business reasons (e.g., to maintain customer relationships or to limit the litigation costs associated with disputing the allegations) with no admission or finding of wrongdoing. This report provides the information exactly as it was reported to CRD and therefore some of the specific data fields contained in the report may be blank if the information was not provided to CRD. Customer Dispute - Settled This type of disclosure event involves a consumer-initiated, investment-related complaint, arbitration proceeding or civil suit containing allegations of sale practice violations against the broker that resulted in a monetary settlement to the customer. Disclosure 1 of 1 Reporting Source: Broker Employing firm when activities occurred which led to the complaint: J.P. MORGAN SECURITIES LLC Allegations: CLIENT ALLEGES THAT FROM JUNE 2011 TO OCTOBER 2011 THAT IN CONNECTION WITH THE PORTFOLIO MANAGER'S INVESTMENT STRATEGY, THE REGISTERED REPRESENTATIVE MISREPRESENTED THE RISK OF THAT STRATEGY AND BREACHED HIS FIDUCIARIY DUTIES BY DIRECTING UNSUITABLE AND OVER CONCENTRATED INVESTMENTS AND FAILING TO FOLLOW INSTRUCTIONS. Product Type: Debt-Government Alleged Damages: $267,446.00 Is this an oral complaint? No Is this a written complaint? Yes Is this an arbitration/CFTC reparation or civil litigation? Yes Arbitration/Reparation forum or court name and location: FINRA Docket/Case #: 12-00352 Filing date of 01/25/2012 arbitration/CFTC reparation ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. or civil litigation: 9
  12. 12. www.finra.org/brokercheck User Guidance Filing date of arbitration/CFTC reparation or civil litigation: 01/25/2012 Customer Complaint Information Date Complaint Received: 02/22/2012 Complaint Pending? No Status: Settled Status Date: 05/31/2013 Settlement Amount: $125,000.00 Individual Contribution Amount: $0.00 Summary: THE LOSSES WERE THE RESULT OF A RAPID DETERIORATION IN MARKET CONDITIONS. I BELIEVE THAT THE INVESTMENT STRATEGY WAS APPROPRIATE. I WAS NOT A NAMED RESPONDENT AND I DID NOT CONTRIBUTE TO THE SETTLEMENT. ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 10
  13. 13. www.finra.org/brokercheck User Guidance Customer Dispute - Closed-No Action/Withdrawn/Dismissed/Denied This type of disclosure event involves (1) a consumer-initiated, investment-related arbitration or civil suit containing allegations of sales practice violations against the individual broker that was dismissed, withdrawn, or denied; or (2) a consumer-initiated, investment-related written complaint containing allegations that the broker engaged in sales practice violations resulting in compensatory damages of at least $5,000; forgery, theft, or misappropriation; or conversion of funds or securities that was closed without action, withdrawn, or denied. Disclosure 1 of 2 Reporting Source: Broker Employing firm when activities occurred which led to the complaint: J.P. MORGAN SECURITIES LLC Allegations: CLIENT ALLEGES OVERCONCENTRATION OF ACCOUNT IN SHORT TREASURY BOND POSITION. Product Type: Debt-Government Alleged Damages: $0.00 Alleged Damages Amount Explanation (if amount not exact): DAMAGE AMOUNT UNSPECIFIED BUT REASONABLY BELIEVED TO BE ABOVE $5,000. Is this an oral complaint? No Is this a written complaint? Yes Is this an arbitration/CFTC reparation or civil litigation? No Customer Complaint Information Date Complaint Received: 09/23/2011 Complaint Pending? No Status: Closed/No Action Status Date: 11/29/2011 Settlement Amount: Individual Contribution Amount: Summary: ©2013 FINRA. All rights reserved. THE LOSSES WERE THE RESULT OF A RAPID DETERIORATION IN MARKET CONDITIONS. I BELIEVE THAT THE INVESTMENT STRATEGY WAS APPROPRIATE. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 11
  14. 14. www.finra.org/brokercheck User Guidance i Disclosure 2 of 2 Reporting Source: Broker Employing firm when activities occurred which led to the complaint: J.P. MORGAN SECURITIES LLC Allegations: CLIENT ALLEGES OVERCONCENTRATION OF ACCOUNT IN SHORT TREASURY BOND POSITION. Product Type: Debt-Government Alleged Damages: $0.00 Alleged Damages Amount Explanation (if amount not exact): DAMAGE AMOUNT UNSPECIFIED BUT REASONABLY BELIEVED TO BE ABOVE $5,000. Is this an oral complaint? No Is this a written complaint? Yes Is this an arbitration/CFTC reparation or civil litigation? No Customer Complaint Information Date Complaint Received: 10/07/2011 Complaint Pending? No Status: Closed/No Action Status Date: 11/28/2011 Settlement Amount: Individual Contribution Amount: Summary: ©2013 FINRA. All rights reserved. THE LOSSES WERE THE RESULT OF A RAPID DETERIORATION IN MARKET CONDITIONS. I BELIEVE THAT THE INVESTMENT STRATEGY WAS APPROPRIATE. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 12
  15. 15. www.finra.org/brokercheck User Guidance Customer Dispute - Pending This type of disclosure event involves (1) a pending consumer-initiated, investment-related arbitration or civil suit that contains allegations of sales practice violations against the broker; or (2) a pending, consumer-initiated, investmentrelated written complaint containing allegations that the broker engaged in, sales practice violations resulting in compensatory damages of at least $5,000; forgery, theft, or misappropriation; or conversion of funds or securities. Disclosure 1 of 5 Reporting Source: Broker Employing firm when activities occurred which led to the complaint: J.P. MORGAN SECURITIES LLC Allegations: CLIENT ALLEGES THE PORTFOLIO MANAGER MISREPRESENTED THE LEVEL OF RISK ASSOCIATED WITH THE MANAGED ACCOUNT(S) INVESTMENT STRATEGY. Product Type: Debt-Government Alleged Damages: $0.00 Alleged Damages Amount Explanation (if amount not exact): DAMAGE AMOUNT UNSPECIFIED BUT REASONABLY BELIEVED TO BE ABOVE $5,000. Is this an oral complaint? No Is this a written complaint? Yes Is this an arbitration/CFTC reparation or civil litigation? No Customer Complaint Information Date Complaint Received: 02/05/2013 Complaint Pending? Yes Settlement Amount: Individual Contribution Amount: i Disclosure 2 of 5 Reporting Source: ©2013 FINRA. All rights reserved. Broker Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 13
  16. 16. www.finra.org/brokercheck User Guidance Employing firm when activities occurred which led to the complaint: J.P. MORGAN SECURITIES LLC Allegations: CLIENT ALLEGED THAT PORTFOLIO MANAGER MISREPRESENTED THE LEVEL OF RISK AND USE OF MARGIN AND LEVERAGE IN MANAGED ACCOUNT FROM 2/2011 TO 9/2011. Product Type: Debt-Government Alleged Damages: $2,400,000.00 Is this an oral complaint? No Is this a written complaint? Yes Is this an arbitration/CFTC reparation or civil litigation? Yes Arbitration/Reparation forum or court name and location: FINRA Docket/Case #: 12-03162 Filing date of arbitration/CFTC reparation or civil litigation: 09/10/2012 Customer Complaint Information Date Complaint Received: 09/18/2012 Complaint Pending? Yes Settlement Amount: Individual Contribution Amount: i Disclosure 3 of 5 Reporting Source: Broker Employing firm when activities occurred which led to the complaint: J.P. MORGAN SECURITIES LLC Allegations: CLIENT ALLEGES BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT, NEGLIGENCE AND MISREPRESENTATION OF THE RISK ASSOCIATED WITH THE FINANCIAL ADVISOR'S INVESTMENT STRATEGY FROM 4/11/11 TO 11/28/11 AND THAT THE SELECTED INVESTMENTS WERE UNSUITABLE FOR THE ACCOUNT. ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 14
  17. 17. www.finra.org/brokercheck User Guidance THE ACCOUNT. Product Type: Debt-Government Alleged Damages: $1,200,000.00 Is this an oral complaint? No Is this a written complaint? Yes Is this an arbitration/CFTC reparation or civil litigation? No Customer Complaint Information Date Complaint Received: 11/28/2011 Complaint Pending? No Status: Evolved into Arbitration/CFTC reparation (the individual is a named party) Status Date: 01/31/2012 Settlement Amount: Individual Contribution Amount: Arbitration Information Arbitration/CFTC reparation claim filed with (FINRA, AAA, CFTC, etc.): FINRA Docket/Case #: 12-00169 Date Notice/Process Served: 01/31/2012 Arbitration Pending? Yes Summary: THE LOSSES WERE THE RESULT OF A RAPID DETERIORATION IN MARKET CONDITIONS. I BELIEVE THAT THE INVESTMENT STRATEGY WAS APPROPRIATE. i Disclosure 4 of 5 Reporting Source: Broker Employing firm when activities occurred which led to the complaint: J.P. MORGAN SECURITIES LLC Allegations: ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 15
  18. 18. www.finra.org/brokercheck User Guidance Allegations: CLIENT ALLEGES THAT ACCOUNT WAS INVESTED TOO AGGRESSIVELY AND AN OVERCONCENTRATION OF ACCOUNT IN SHORT TREASURY BOND POSITION. Product Type: Debt-Government Alleged Damages: $238,000.00 Is this an oral complaint? No Is this a written complaint? Yes Is this an arbitration/CFTC reparation or civil litigation? Yes Arbitration/Reparation forum or court name and location: FINRA Docket/Case #: 11-04703 Filing date of arbitration/CFTC reparation or civil litigation: 12/19/2011 Customer Complaint Information Date Complaint Received: 12/30/2011 Complaint Pending? Yes Settlement Amount: Individual Contribution Amount: Summary: THE LOSSES WERE THE RESULT OF A RAPID DETERIORATION IN MARKET CONDITIONS. I BELIEVE THAT THE INVESTMENT STRATEGY WAS APPROPRIATE. i Disclosure 5 of 5 Reporting Source: Broker Employing firm when activities occurred which led to the complaint: J.P. MORGAN SECURITIES LLC Allegations: CLIENT ALLEGED FRAUD, NEGLIGENCE, MISREPRESENTATION, BREACH OF CONTRACT AND BREACH OF FIDUCIARY DUTY. Product Type: Debt-Government ©2013 FINRA. All rights reserved. $1,500,000.00 Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 16
  19. 19. www.finra.org/brokercheck User Guidance Alleged Damages: $1,500,000.00 Is this an oral complaint? No Is this a written complaint? Yes Is this an arbitration/CFTC reparation or civil litigation? No Customer Complaint Information Date Complaint Received: 09/24/2011 Complaint Pending? No Status: Evolved into Arbitration/CFTC reparation (the individual is a named party) Status Date: 08/21/2012 Settlement Amount: Individual Contribution Amount: Arbitration Information Arbitration/CFTC reparation claim filed with (FINRA, AAA, CFTC, etc.): FINRA Docket/Case #: 12-02789 Date Notice/Process Served: 08/21/2012 Arbitration Pending? Yes Summary: THE LOSSES WERE THE RESULT OF A RAPID DETERIORATION IN MARKET CONDITIONS. I BELIEVE THAT THE INVESTMENT STRATEGY WAS APPROPRIATE. ON 11/28/2011 THE ORIGINAL CUSTOMER COMPLAINT WAS DENIED. IN AUGUST 2012, HEXTALL FILED AN ABRITRATION WITH FINRA. ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 17
  20. 20. www.finra.org/brokercheck User Guidance End of Report This page is intentionally left blank. ©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013. 18

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