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Odalis Duran Barred by FINRA for Allegedly Failing to Respond to Requests for Information

Mar 16, 2022 Broker Theft

Odalis Duran (CRD #: 5777173), a broker formerly registered with J.P.Morgan Securities, was recently barred for allegedly failing to respond to FINRA requests for information, according to his BrokerCheck Record accessed on March 2, 2022.

FINRA Bar

FINRA Rule 9552 applies in situations where a brokerage firm or representative has failed to provide information or keep information current. FINRA Rule 9552 is a Notice of Suspension if corrective action is not taken. Since Odalis Duran failed to request termination of his suspension within three months of the date of the Notice of Suspension, he was automatically barred on February 28, 2022.

Employment Termination Details

On May 7, 2021, JPMorgan Chase Bank fired Odalis Duran after he allegedly made several unauthorized withdrawals from a customer's affiliate bank account and charged her credit card, allegedly for his personal use. Misappropriation of investor funds is a common problem in the securities industry and requires vigilant supervision to prevent. 

Facilitating unauthorized withdrawals from a customer's account is a breach of the duty to observe high standards of commercial honor and just and equitable principles, in violation of FINRA Rule 2010.

Background Information

Odalis Duran has passed the following exams:

  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination

Besides J.P.Morgan Securities, Odalis Duran has also worked with Chase Investment Services Corp. (CRD#:25574).

Kurta Law Can Help 

If you have been victimized by Odalis Duran as a broker, don't hesitate to get in touch with us today 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 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.