J.P. Morgan Securities

Revenue increased 4% from 2015 even as the number of advisers fell by 10%.

FINRA accused the rep of "structuring" transactions by making cash deposits into her personal savings account in amounts under the currency transaction reporting threshold of $10,000.

The regulator accused the rep of writing 38 checks totaling $46,280 from two personal J.P. Morgan bank accounts that it claims did not have sufficient funds to cover the checks.

The rep declined to provide the regulator with the documents and information it needed to assess allegations that he misappropriated bank customer funds.

"I lose years of my life. They can settle, write a check and move on," says an adviser whose book of business dropped by $40 million after he alleges he was wrongfully terminated.

The regulator was looking into allegations that he structured transactions in his personal bank account to avoid federal reporting requirements.

Whitley Hood declined to provide on the record testimony regarding allegations that she misappropriated funds from an affiliated bank.

FINRA claimed the firm failed to adequately supervise the execution and approval of powers of attorneys submitted by non-U.S. customers of J.P. Morgan Private Bank.

The recruits come from the private banking division.

The adviser contended that not a single one of her clients from Schwab transferred their accounts over to J.P. Morgan.