Ex-JP Morgan Broker Barred Over $9M Insider Trading Scheme

Law360, Los Angeles (January 2, 2014, 9:41 PM EST) -- A former JP Morgan Securities LLC broker was barred on Tuesday by the Financial Industry Regulatory Authority, the self-regulator of the U.S. securities industry, which alleged the broker fed confidential information to a personal friend, leading to $9 million in insider trading.

David Michael Gutman worked in JP Morgan’s conflicts office, vetting transactions that could create conflicts of interest for the firm and passing on details of upcoming deals to Christopher John Tyndall, then a broker with Meyers Associates LP, according to FINRA.

Gutman did not...
To view the full article, register now.