Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/advisor, Darren Ting (CRD # 681403) was recently suspended from the securities industry by FINRA’s Department of Enforcement after an investigation into various sales practice violations. Such violations included unauthorized trading, and mismarking order tickets.
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Ting.
Registration Background for Darren Ting
Mr. Ting first became registered in the securities industry in 2018. He was most recently registered with Cleveland, OH based J.P. Morgan Securities LLC (CRD # 79) from March 2021 to March 2022. His prior registrations include Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD # 7691) from February 2018 to March 2021.
FINRA’s Allegations Against Darren Ting
According to the FINRA Letter of Acceptance, Waiver and Consent (AWC) dated December 12, 2023 (No. 2022074432901), Mr. Ting consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “Between June 2021 and January 2022, [Mr.] Ting exercised discretionary authority to effect 60 trades in six customer accounts without obtaining written authorization from the customers to exercise discretion and without his firm having accepted the accounts as discretionary”;
- “Although the customers understood that [Mr.] Ting was placing trades in the accounts, the customers had not provided prior written authorization for [Mr.[ Ting to exercise discretion”;
- “In addition, J.P. Morgan did not accept the accounts as discretionary”;
- “Between May 2021 and December 2021, [Mr.] Ting also mismarked at least 150 solicited trades as unsolicited”; and
- By virtue of his actions, Mr. Ting violated FINRA Rule 3260(b) regarding discretionary accounts, FINRA Rule 4511 regarding books and records, and FINRA Rule 2010 regarding standards of commercial honor and principles of trade.
FINRA Suspends Darren Ting from Securities Industry
As a result of such violations and in addition to the above-described findings and conclusions, FINRA’s December 12, 2023 AWC also indicates that Mr. Ting consented to the following sanction(s):
- a four-month suspension from association with any FINRA member in all capacities; and
- a fine in the amount of $10,000.00.
Darren Ting Has No Prior History of Securities Industry Customer Complaints
In addition to Mr. Ting being suspended by FINRA from the securities industry regarding various sales practice violations, FINRA BrokerCheck for Mr. Ting reveals that he has no prior history of customer complaints and/or customer-initiated arbitrations.
Have You Lost Money with Darren Ting?
If you or someone you know has or had a brokerage account with Mr. Darren Ting and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.
