Did anyone ever leave JP Morgan Chase as a rep in the bank and receive a letter requesting commission back? It was related to managed money. Under the comp plan you where advanced certain up front fee's that were designed to be amortized over the following 4 calendar quarters. At the time of separation the amounts advanced to you had not been fully amortized. According to the plan, any incentives associated with the remaning unamortized advanced  incentives must be repaid immediately.

I left Chase and  am no longer registered as with the NASD. As of right now I don't plan on using my license again in my career. What has Chase done to rep's in the past? Also what legal recourse can they take?

Thank you for any insight

Did anyone ever leave JP Morgan Chase as a rep in the bank and receive a letter requesting commission back? It was related to managed money. Under the comp plan you where advanced certain up front fee's that were designed to be amortized over the following 4 calendar quarters. At the time of separation the amounts advanced to you had not been fully amortized. According to the plan, any incentives associated with the remaning unamortized advanced  incentives must be repaid immediately.

I left Chase and  am no longer registered as with the NASD. As of right now I don't plan on using my license again in my career. What has Chase done to rep's in the past? Also what legal recourse can they take?

Thank you for any insight

It is very simple add up what they owe you and subtact what you owe them. If you owe them pay, if they owe you show them the calculations and politely ask for the money. As Michael Corleone said," Nothing personal,it's strictly business."

Do not get into a fight with attorneys you will lose they have deeper pockets than you!!!!

do firms really go after reps for $2,700