Steve Lu, previously with J.P. Morgan Securities, Barred by FINRA
Have you lost money with financial advisor Steve Lu? We are looking into allegations made about Steve Jun Lu from Altadena, California. FINRA (the Financial Industry Regulatory Authority) barred him from the securities industry. FINRA was investigating Lu after he was alleged to have become the power of attorney for an elderly woman with dementia. Lu had just met the woman only days before. He also became co-trustee of the woman’s trust and made himself beneficiary of 75% of her estate.
Steve Jun Lu was a financial advisor and registered representative of J.P. Morgan Securities from October 2017 to April 2018. He worked in a branch office in Altadena, California.
Brokerage firms like J.P. Morgan Securities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including in California. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against J.P. Morgan Securities.