FINRA barred former J.P. Morgan Securities LLC broker William Gerard Stapleton (aka Welleam Stapleton) of Southern California after an investigation into allegations that Stapleton and a third party made misrepresentations to a firm customer regarding annuity investments. Stapleton worked at JP Morgan's Tustin, CA branch until 2012, whereupon he joined Irvine's Arque Capital, Ltd. until the present investigation and subsequent barring.
According to Stapleton's BrokerCheck report, Chase Investment Services (now known as JP Morgan) settled a case with a former client who alleged that Stapleton misrepresented a variable annuity investment in October 2012.
FINRA reported receiving a March 30, 2015 response from Stapleton in which he said "he would not provide FINRA with documents and information at any time." The report states that Stapleton's failure to provide documents and information when requested by FINRA staff constitutes a failure to cooperate, which is a separate violation meriting a permanent bar from the industry.
Stapleton's BrokerCheck also indicates that in 2014, a firm customer alleged that her signature on an annuities application was not authentic. In his statement, Stapleton denied forging the signature and the complaint was subsequently closed.
If you have invested with former SoCal broker William Gerard Stapleton at JP Morgan, Arque Capital, or with any broker or financial adviser whose misrepresentation, omission of material facts, or other inaccurate portrayal of variable annuities or any other securities product has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.