JPMorgan Chase Bank Fires Jose Castillo for Alleged Firm Policy Violation

Jose Castillo (CRD #: 5507723), a broker and investment advisor with Western International Securities, has been fired from his position at JPMorgan Chase Bank, according to his BrokerCheck record, accessed on November 17, 2021. Besides   

Jose Castillo’s Employment Termination Details 

On September 7, 2021, JPMorgan Chase Bank fired Jose Castillo following allegations that he violated the firm’s policy governing personal finances. According to JPMorgan Chase Bank, he allegedly made several cash deposits to his personal affiliate bank account under the currency transaction reporting threshold.  

Other Disclosures 

On April 9, 2020, Jose Castillo was involved in an investor dispute, which has been settled. According to the investor, in March 2020, Jose Castillo allegedly recommended an unsuitable mutual fund investment. The damage amount requested was  $391,901; the dispute was settled for $150,000.00.  

What Makes an Investment Unsuitable? 

FINRA Rule 2111 requires that brokers only recommend investments that suit their customer’s financial goals and risk tolerance.  

Background Information 

Jose Castillo 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 
• Series 6 – Investment Company Products/Variable Contracts Representative Examination 

He s a registered broker and investment advisor in California and Texas. 

Other than Western International Securities, Jose Castillo has also worked with the following firms: 

• J.P. Morgan Securities (CRD#:79) 
• Chase Investment Services (CRD#:25574) 
• Wamu Investments (CRD#:599) 

Kurta Law Can Help 

If you have suffered losses after working with Jose Castillo, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors. Kurta Law is a nationally recognized law firm and 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. Reach out today to start the process to recover your investment losses.