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JPMorgan Securities fires broker accused of making unauthorized trades

J.P. Morgan Securities LLC fired Trevor Rahn, a broker who allegedly made excessive and unauthorized trades in a client account, The New York Times reported Oct. 9, citing a regulatory disclosure filing.

Rahn was discharged Sept. 17 for "unacceptable practices ... relating to the timing and size of orders entered and resulting transaction charges in a client account and relating to the marking of certain orders for the account as unsolicited," according to a filing available through the Financial Industry Regulatory Authority's BrokerCheck tool.

Tracey Dewart, who oversees her father's account, claimed Rahn made excessive and unauthorized trades from August 2017 to September 2017 to increase the commission he receives, the Times wrote. The company settled with Dewart in June.