Todd Gutfleisch Clears Record of Ex-J.P. Morgan Securities Broker, Secures $250K FINRA Award

April 15, 2024

Harris St. Laurent & Wechsler LLP partner Todd Gutfleisch secured a FINRA panel order clearing the record of ex-J.P. Morgan Securities broker Michael C. Nolan, while also securing a $250,000 arbitral award. The broker claimed his former employer made defamatory statements in a regulatory filing disclosed in his client-facing FINRA BrokerCheck background report on why he left the firm.

Nolan, who managed $1.1 billion in assets before moving to a competing firm, claimed the statements damaged his professional standing and earnings. Nolan also cited that J.P. Morgan violated FINRA Rule 1122, which prohibits the filing of misleading information. The FINRA panel ordered changes to Nolan’s BrokerCheck report to clarify his departure was voluntary and unrelated to company policy violations.

Mr. Gutfleisch is an employment lawyer and litigator who provides practical advice and aggressive advocacy. He represents individuals and companies in the financial industry in all aspects of the employment relationship.

In addition to counseling clients and negotiating employment contracts and separation agreements, Mr. Gutfleisch negotiates, mediates and litigates compensation, unlawful termination, defamation, discrimination, whistleblowing and retaliation claims before regulatory and arbitration tribunals such as JAMS and the American Arbitration Association and state and federal agencies and courts.

He is ranked by Chambers in Labor and Employment: Mainly Plaintiffs and was selected as a Leading Plaintiff Employment & Civil Rights Lawyer by Lawdragon.