robert owen klein - finra brokercheck report

BrokerCheck Report

ROBERT OWEN KLEIN

Report #58900-41969, data current as of Friday, September 27, 2013.

Section Title

Report Summary

Broker Qualifications

Registration and Employment History

Disclosure Events

CRD# 1254422

1

2 - 5

6

7

Page(s)

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About BrokerCheck®

BrokerCheck offers information on all current-and many former-FINRA-registered securities brokers, and all current andformer FINRA-registered securities firms. FINRA strongly encourages investors to use BrokerCheck to check thebackground of securities brokers and brokerage firms before deciding to conduct, or continue to conduct, business withthem.

·· What is included in a BrokerCheck report?BrokerCheck reports for individual brokers include information such as employment history, professionalqualifications, disciplinary actions, criminal convictions, civil judgments and arbitration awards. BrokerCheckreports for brokerage firms include information on a firm’s profile, history, and operations, as well as many of thesame disclosure events mentioned above.Please note that the information contained in a BrokerCheck report may include pending actions or allegationsthat may be contested, unresolved or unproven. In the end, these actions or allegations may be resolved in favorof the broker or brokerage firm, or concluded through a negotiated settlement with no admission or finding ofwrongdoing.

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o information FINRA and/or the Securities and Exchange Commission (SEC) require brokers andbrokerage firms to submit as part of the registration and licensing process, and

o information that regulators report regarding disciplinary actions or allegations against firms or brokers.

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·· What if I want to check the background of an investment adviser firm or investment adviserrepresentative?To check the background of an investment adviser firm or representative, you can search for the firm or individualin BrokerCheck. If your search is successful, click on the link provided to view the available licensing andregistration information in the SEC's Investment Adviser Public Disclosure (IAPD) website athttp://www.adviserinfo.sec.gov. In the alternative, you may search the IAPD website directly or contact your statesecurities regulator at http://www.nasaa.org.

·· Are there other resources I can use to check the background of investment professionals?FINRA recommends that you learn as much as possible about an investment professional before deciding to workwith them. Your state securities regulator can help you research brokers and investment adviser representativesdoing business in your state.

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ROBERT O. KLEIN

CRD# 1254422

Currently employed by and registered with thefollowing FINRA Firm(s):

J.P. MORGAN SECURITIES LLC660 NEWPORT CENTER DRIVESUITE 750NEWPORT BEACH, CA 92660CRD# 79Registered with this firm since: 01/09/1995

Report Summary for this Broker

This report summary provides an overview of the broker's professional background and conduct. Additionalinformation can be found in the detailed report.

Disclosure Events

Disclosure events are certain criminal matters;regulatory actions; civil judicial proceedings; customercomplaints, arbitrations, or civil litigations;employment terminations; and financial matters inwhich the broker has been involved.

Are there events disclosed about this broker? Yes

The following types of disclosures have beenreported:

Type Count

Customer Dispute 8

Investment Adviser RepresentativeInformation

http://www.adviserinfo.sec.gov

This individual is registered as a broker and aninvestment adviser representative. For moreinformation about this individual’s record as aninvestment adviser representative, visit SEC'sInvestment Adviser Public Disclosure website at:


This broker is registered with:

13 Self-Regulatory Organizations

42 U.S. states and territories

This broker has passed:

0 Principal/Supervisory Exams

4 General Industry/Product Exams

2 State Securities Law Exams

Is this broker currently suspended or inactive withany regulator? No

Registration History

This broker was previously registered with FINRA atthe following brokerage firms:

MERRILL LYNCH, PIERCE, FENNER & SMITHINCORPORATEDCRD# 7691NEW YORK, NY09/1989 - 01/1995

DEAN WITTER REYNOLDS INC.CRD# 7556PURCHASE, NY01/1985 - 09/1989

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1©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013.


http://www.adviserinfo.sec.gov/IAPD/support/IAPD_Link_for_NBC.aspx?Indvl_pk=1254422&LinkedFrom=Report

http://www.finra.org/brokercheck

http://www.finra.org/brokercheck_reports



Registrations

This section provides the self-regulatory organizations (SROs) and U.S. states/territories the broker is currentlyregistered and licensed with, the category of each registration, and the date on which the registration became effective.This section also provides, for every brokerage firm with which the broker is currently employed, the address of eachbranch where the broker works.

This individual is currently registered with 13 SROs and is licensed in 42 U.S. states and territories through hisor her employer.

Employment 1 of 1Firm Name:

Main Office Address:

Firm CRD#:

J.P. MORGAN SECURITIES LLC

79

383 MADISON AVENUENEW YORK, NY 10179

SRO Category Status Date

FINRA General Securities Representative APPROVED 01/09/1995

BOX Options Exchange LLC General Securities Representative APPROVED 05/11/2012

C2 Options Exchange, Incorporated General Securities Representative APPROVED 01/06/2012

Chicago Board Options Exchange General Securities Representative APPROVED 01/09/1995

Chicago Stock Exchange General Securities Representative APPROVED 01/06/2012

International Securities Exchange General Securities Representative APPROVED 01/10/2008

NASDAQ OMX BX, Inc. General Securities Representative APPROVED 09/30/2009

NASDAQ OMX PHLX, Inc. General Securities Representative APPROVED 01/09/1995

NASDAQ Stock Market General Securities Representative APPROVED 07/12/2006

NYSE Arca, Inc. General Securities Representative APPROVED 01/09/1995

NYSE MKT LLC General Securities Representative APPROVED 01/09/1995

New York Stock Exchange General Securities Representative APPROVED 01/09/1995

Topaz Exchange, LLC General Securities Representative APPROVED 08/02/2013

U.S. State/Territory

Category Status Date

Alabama Agent APPROVED 10/12/2006

Arizona Agent APPROVED 08/28/1997



California Agent APPROVED 01/13/1995

Colorado Agent APPROVED 04/29/2008





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Employment 1 of 1, continuedU.S. State/Territory


Connecticut Agent APPROVED 05/09/2008

Delaware Agent APPROVED 07/09/2008

District ofColumbia

Agent APPROVED 07/09/2008

Florida Agent APPROVED 04/12/2002

Georgia Agent APPROVED 10/12/2006

Hawaii Agent APPROVED 07/09/2008

Idaho Agent APPROVED 11/07/2007

Illinois Agent APPROVED 03/14/2007

Indiana Agent APPROVED 10/12/2006

Kentucky Agent APPROVED 05/01/2009

Louisiana Agent APPROVED 04/30/2008

Maryland Agent APPROVED 01/09/1995

Massachusetts Agent APPROVED 01/09/1995

Michigan Agent APPROVED 04/29/2008

Mississippi Agent APPROVED 10/12/2006

Missouri Agent APPROVED 10/07/2002

Montana Agent APPROVED 06/02/2008

Nebraska Agent APPROVED 07/09/2008

Nevada Agent APPROVED 01/09/2006

New Hampshire Agent APPROVED 07/01/2010

New Jersey Agent APPROVED 05/05/2003

New Mexico Agent APPROVED 05/27/2008

New York Agent APPROVED 03/22/2002

North Carolina Agent APPROVED 08/28/1997



Ohio Agent APPROVED 07/10/2008

Oklahoma Agent APPROVED 01/09/2006

Oregon Agent APPROVED 04/05/2002

Pennsylvania Agent APPROVED 01/09/1995

Rhode Island Agent APPROVED 07/15/2013

South Carolina Agent APPROVED 06/16/2008

Tennessee Agent APPROVED 04/30/2008

Texas Agent APPROVED 01/09/1995

Utah Agent APPROVED 06/12/2003

Virgin Islands Agent APPROVED 09/25/2013

Virginia Agent APPROVED 01/09/1995

Washington Agent APPROVED 01/09/2006

Wisconsin Agent APPROVED 01/09/1995

Wyoming Agent APPROVED 02/28/2006







Employment 1 of 1, continued

Branch Office Locations

J.P. MORGAN SECURITIES LLC660 NEWPORT CENTER DRIVESUITE 750NEWPORT BEACH, CA 92660







Industry Exams this Broker has Passed

This individual has passed 0 principal/supervisory exams, 4 general industry/product exams, and 2 statesecurities law exams.

This section includes all securities industry exams that the broker has passed. Under limited circumstances, a brokermay attain a registration after receiving an exam waiver based on exams the broker has passed and/or qualifying workexperience. Any exam waivers that the broker has received are not included below.

Exam Category Date

Principal/Supervisory Exams

No information reported.

Exam Category Date

General Industry/Product Exams

National Commodity Futures Examination 07/10/1986Series 3

Interest Rate Options Examination 08/24/1988Series 5

General Securities Representative Examination 04/14/1984Series 7

Foreign Currency Options Examination 04/05/1988Series 15

Exam Category Date

State Securities Law Exams

Uniform Securities Agent State Law Examination 04/25/1984Series 63

Uniform Investment Adviser Law Examination 10/10/1994Series 65

Additional information about the above exams or other exams FINRA administers to brokers and other securitiesprofessionals can be found at www.finra.org/brokerqualifications/registeredrep/.






Registration and Employment History

Registration History

Registration Dates Firm Name CRD# Branch Location

This broker previously was registered with FINRA at the following firms:

09/1989 - 01/1995 MERRILL LYNCH, PIERCE, FENNER & SMITHINCORPORATED

7691 NEW YORK, NY

01/1985 - 09/1989 DEAN WITTER REYNOLDS INC. 7556 PURCHASE, NY

Employment History

Employment Dates Employer Name Employer Location

Below is the broker's employment history for up to the last 10 years.

Please note that the broker is required to provide this information only while registered with FINRA and theinformation is not updated after the broker ceases to be registered. Therefore, an employment end date of"Present" may not reflect the broker's current employment status.

10/2010 - Present JPMORGAN CHASE BANK, N.A. LOS ANGELES, CA

10/2008 - Present J.P.MORGAN SECURITIES INC. NEWPORT BEACH, CA

01/1995 - 10/2008 BEAR, STEARNS & CO. INC. LOS ANGELES, CA

Other Business Activities

This section includes information, if any, as provided by the broker regarding other business activities the broker iscurrently engaged in either as a proprietor, partner, officer, director, employee, trustee, agent or otherwise. This sectiondoes not include non-investment related activity that is exclusively charitable, civic, religious or fraternal and isrecognized as tax exempt.

EFFECTIVE OCTOBER 1, 2010, I WILL BE AN EMPLOYEE OF BOTH J.P. MORGAN SECURITIES LLC ANDJPMORGAN CHASE BANK, N.A. ("JPMCB"). JPMCB OFFERS A BROAD RANGE OF PRODUCTS AND SERVICESNATIONWIDE. AS AN EMPLOYEE OF JPMCB, I WILL BE ABLE TO OFFER CERTAIN BANK PRODUCTS ANDSERVICES, INCLUDING DEPOSIT AND CREDIT PRODUCTS AND DISCRETIONARY INVESTMENT MANAGEMENT.






Disclosure Events

What you should know about reported disclosure events:

1. Disclosure events are certain criminal matters; regulatory actions; civil judicial proceedings; customercomplaints, arbitrations, or civil litigations; employment terminations; and financial matters in which the brokerhas been involved.

2. Certain thresholds must be met before an event is reported to CRD, for example: o A law enforcement agency must file formal charges before a broker is required to report a particular

criminal event. o A customer dispute must involve allegations that a broker engaged in activity that violates certain rules

or conduct governing the industry and that the activity resulted in damages of at least $5,000.

3. Disclosure events in BrokerCheck reports come from different sources: o As mentioned at the beginning of this report, information contained in BrokerCheck comes from brokers,

brokerage firms and regulators. When more than one of these sources reports information for the samedisclosure event, all versions of the event will appear in the BrokerCheck report. The different versionswill be separated by a solid line with the reporting source labeled.

4. There are different statuses and dispositions for disclosure events: o A disclosure event may have a status of pending, on appeal, or final.

§ A "pending" disclosure event involves allegations that have not been proven or formallyadjudicated.

§ A disclosure event that is "on appeal" involves allegations that have been adjudicated but arecurrently being appealed.

§ A "final" disclosure event has been concluded and its resolution is not subject to change. o A final disclosure event generally has a disposition of adjudicated, settled or otherwise resolved.

§ An "adjudicated" matter includes a disposition by (1) a court of law in a criminal or civil matter, or(2) an administrative panel in an action brought by a regulator that is contested by the partycharged with some alleged wrongdoing.

§ A "settled" matter generally represents a disposition wherein the parties involved in a disputereach an agreement to resolve the matter. Please note that brokers and brokerage firms maychoose to settle customer disputes or regulatory matters for business or other reasons.

§ A "resolved" matter usually includes a disposition wherein no payment is made to the customeror there is no finding of wrongdoing on the part of the individual broker. Such matters generallyinvolve customer disputes.

For your convenience, below is a matrix of the number and status of disclosure events involving this broker.Further information regarding these disclosure events can be found in the subsequent pages of this report. Youalso may wish to contact the broker to obtain further information regarding the disclosure events.






Final On AppealPending

Customer Dispute 5 3 N/A






Disclosure Event Details

When evaluating this information, please keep in mind that a discloure event may be pending or involve allegationsthat are contested and have not been resolved or proven. The disclosure event may, in the end, be withdrawn,dismissed, resolved in favor of the broker, or concluded through a negotiated settlement for certain business reasons(e.g., to maintain customer relationships or to limit the litigation costs associated with disputing the allegations) with noadmission or finding of wrongdoing.

This report provides the information exactly as it was reported to CRD and therefore some of the specific data fieldscontained in the report may be blank if the information was not provided to CRD.

Customer Dispute - Settled

This type of disclosure event involves a consumer-initiated, investment-related complaint, arbitration proceeding or civilsuit containing allegations of sale practice violations against the broker that resulted in a monetary settlement to thecustomer.

Disclosure 1 of 1

Reporting Source: Broker

Employing firm whenactivities occurred which ledto the complaint:

Allegations:


CLIENT ALLEGES THAT FROM JUNE 2011 TO OCTOBER 2011 THAT INCONNECTION WITH THE PORTFOLIO MANAGER'S INVESTMENTSTRATEGY, THE REGISTERED REPRESENTATIVE MISREPRESENTED THERISK OF THAT STRATEGY AND BREACHED HIS FIDUCIARIY DUTIES BYDIRECTING UNSUITABLE AND OVER CONCENTRATED INVESTMENTS ANDFAILING TO FOLLOW INSTRUCTIONS.

Product Type: Debt-Government

Alleged Damages: $267,446.00

Is this an oral complaint? No

Is this a written complaint? Yes

Is this an arbitration/CFTCreparation or civil litigation?

Yes

Arbitration/Reparation forumor court name and location:

FINRA

Docket/Case #: 12-00352

Filing date ofarbitration/CFTC reparationor civil litigation:

01/25/2012






Date Complaint Received: 02/22/2012

Complaint Pending? No

Status:

Status Date: 05/31/2013

Settlement Amount: $125,000.00

Individual ContributionAmount:

$0.00

Summary: THE LOSSES WERE THE RESULT OF A RAPID DETERIORATION IN MARKETCONDITIONS. I BELIEVE THAT THE INVESTMENT STRATEGY WASAPPROPRIATE. I WAS NOT A NAMED RESPONDENT AND I DID NOTCONTRIBUTE TO THE SETTLEMENT.

Customer Complaint Information

Settled


01/25/2012






Customer Dispute - Closed-No Action/Withdrawn/Dismissed/Denied

This type of disclosure event involves (1) a consumer-initiated, investment-related arbitration or civil suit containingallegations of sales practice violations against the individual broker that was dismissed, withdrawn, or denied; or (2) aconsumer-initiated, investment-related written complaint containing allegations that the broker engaged in sales practiceviolations resulting in compensatory damages of at least $5,000; forgery, theft, or misappropriation; or conversion offunds or securities that was closed without action, withdrawn, or denied.

Disclosure 1 of 2



Allegations:


CLIENT ALLEGES OVERCONCENTRATION OF ACCOUNT IN SHORTTREASURY BOND POSITION.


Alleged Damages: $0.00



Status:


Settlement Amount:


Summary: THE LOSSES WERE THE RESULT OF A RAPID DETERIORATION IN MARKETCONDITIONS. I BELIEVE THAT THE INVESTMENT STRATEGY WASAPPROPRIATE.


Closed/No Action

Alleged Damages AmountExplanation (if amount notexact):

DAMAGE AMOUNT UNSPECIFIED BUT REASONABLY BELIEVED TO BEABOVE $5,000.




No






Disclosure 2 of 2

i



Allegations:


CLIENT ALLEGES OVERCONCENTRATION OF ACCOUNT IN SHORTTREASURY BOND POSITION.





Status:


Settlement Amount:




Closed/No Action






No






Customer Dispute - Pending

This type of disclosure event involves (1) a pending consumer-initiated, investment-related arbitration or civil suit thatcontains allegations of sales practice violations against the broker; or (2) a pending, consumer-initiated, investment-related written complaint containing allegations that the broker engaged in, sales practice violations resulting incompensatory damages of at least $5,000; forgery, theft, or misappropriation; or conversion of funds or securities.

Disclosure 1 of 5



Allegations:


CLIENT ALLEGES THE PORTFOLIO MANAGER MISREPRESENTED THELEVEL OF RISK ASSOCIATED WITH THE MANAGED ACCOUNT(S)INVESTMENT STRATEGY.




Complaint Pending? Yes

Settlement Amount:








No

Disclosure 2 of 5

i








Allegations:


CLIENT ALLEGED THAT PORTFOLIO MANAGER MISREPRESENTED THELEVEL OF RISK AND USE OF MARGIN AND LEVERAGE IN MANAGEDACCOUNT FROM 2/2011 TO 9/2011.


Alleged Damages: $2,400,000.00



Settlement Amount:






Yes


FINRA



09/10/2012

Disclosure 3 of 5

i



Allegations:


CLIENT ALLEGES BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT,NEGLIGENCE AND MISREPRESENTATION OF THE RISK ASSOCIATED WITHTHE FINANCIAL ADVISOR'S INVESTMENT STRATEGY FROM 4/11/11 TO11/28/11 AND THAT THE SELECTED INVESTMENTS WERE UNSUITABLE FORTHE ACCOUNT.






THE ACCOUNT.





Status:


Settlement Amount:


Date Notice/Process Served: 01/31/2012

Arbitration Pending? Yes



Arbitration Information

Evolved into Arbitration/CFTC reparation (the individual is a named party)




No

Arbitration/CFTC reparationclaim filed with (FINRA, AAA,CFTC, etc.):

FINRA


Disclosure 4 of 5

i



Allegations:







Allegations: CLIENT ALLEGES THAT ACCOUNT WAS INVESTED TOO AGGRESSIVELYAND AN OVERCONCENTRATION OF ACCOUNT IN SHORT TREASURY BONDPOSITION.


Alleged Damages: $238,000.00



Settlement Amount:







Yes


FINRA



12/19/2011

Disclosure 5 of 5

i



Allegations:


CLIENT ALLEGED FRAUD, NEGLIGENCE, MISREPRESENTATION, BREACHOF CONTRACT AND BREACH OF FIDUCIARY DUTY.


$1,500,000.0016©2013 FINRA. All rights reserved. Report# 58900-41969 about ROBERT O. KLEIN. Data current as of Friday, September 27, 2013.








Status:


Settlement Amount:


Date Notice/Process Served: 08/21/2012

Arbitration Pending? Yes

Summary: THE LOSSES WERE THE RESULT OF A RAPID DETERIORATION IN MARKETCONDITIONS. I BELIEVE THAT THE INVESTMENT STRATEGY WASAPPROPRIATE. ON 11/28/2011 THE ORIGINAL CUSTOMER COMPLAINT WASDENIED. IN AUGUST 2012, HEXTALL FILED AN ABRITRATION WITH FINRA.


Arbitration Information

Evolved into Arbitration/CFTC reparation (the individual is a named party)




No

Arbitration/CFTC reparationclaim filed with (FINRA, AAA,CFTC, etc.):

FINRA







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