JPMorgan Chase inappropriately retaliated against a former employee who raised questions about the bank’s sales tactics and investment products, the Labor Department found.
The bank was ordered to pay back wages and damages to Johnny Burris, a former broker at one of its Arizona branches. A letter released on Tuesday by the Occupational Safety and Health Administration, a division of the department, said that JPMorgan had violated provisions of the Sarbanes-Oxley law designed to protect whistle-blowers.
A spokeswoman for JPMorgan, Patricia Wexler, said the bank planned to appeal the findings. Ms. Wexler noted that the Financial Industry Regulatory Authority, the industry’s self-funded regulator, had previously ruled against Mr. Burris when he told an arbitration panel that he was fired as retaliation.
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