Arif Ahmed is the Subject of a $204 Million Dispute

Arif Ahmed (CRD #: 3099755), a broker registered with J.P. Morgan Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on March 26, 2024. Kurta Law wants investors to know that this is the fifth investor dispute on his record. 

Investor Allegations

On February 6, 2024, an investor alleged that Arif Ahmed made a recommendation that led to a multi-million dollar loss. The investor is seeking $204,694,278. 

Unsuitable Investments  

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Excessive trading, which violates the need for quantitative suitability. This means that the number of trades must suit an investor’s goals. Excessive trading is also known as “churning.” 
• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

Background Information 

Arif Ahmed has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 29 states and D.C. He is a registered investment adviser in California, D.C., and Texas. 

During his 25 years of experience, he has registered with four firms: 

• JP Morgan Securities (CRD #: 79) 
• JP Morgan Private Wealth Advisors (CRD #: 108559) 
• First Republic Securities Company (CRD #: 105108) 
• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)

Kurta Law Can Help 

If you have worked with Arif Ahmed and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.