Xavier Patino, formerly with J.P. Morgan Securities, Suspended Six Months by FINRA

Have you lost money with financial advisor Xavier Patino of Elmhurst, Illinois?  We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Xavier Patino. FINRA suspended Patino from the securities industry for six months and fined him $10,000.  FINRA was investigating Patino regarding allegations that he guaranteed a customer against losses in connection with the purchase of a variable annuity.

Xavier Patino was a financial advisor and registered representative of J.P. Morgan from October 2012 to May 2017.  He also was affiliated with Newbridge Securities Corp. from June 2017 to June 2018.  He worked at branch offices in Elmhurst and Oakbrook Terrace, Illinois.  Patino has been the subject of two customer complaints.

Brokerage firms like J.P. Morgan 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; Ann Arbor, Michigan; and Seattle, Washington.  We represent investors in FINRA arbitration in all 50 states, including over 150 investors in the past from throughout the Chicagoland area, Northern Illinois, and Central Illinois.

Attorney David Neuman was born in Berwyn, Illinois and grew up in the western suburbs in Addison.  He earned a degree in Finance at the University of Illinois in Urbana-Champaign before earning his law degree at Northern Illinois University in DeKalb, Illinois.  Mr. Neuman also previously worked for a number of Chicago area law firms, including firms in St. Charles, Geneva, Chicago, and Barrington.

Click to view:  Patino, Xavier FINRA AWC

Click to view:  Patino blog posting 7.2.18

If you lost money with Xavier Patino, J.P. Morgan Securities, or Newbridge Securities Corp., please CONTACT US at 720-599-3505 for a free evaluation of your case.

Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs.