The SEC has charged Atlanta-based securities brokerage firm JP Turner & Company, as well as its executive vice-president and head of supervision, Michael Bresner, and its president William Mello, with compliance violations and failure to supervise. JP Turner and Mello have reportedly agreed to settle with the SEC, but administrative proceedings remain pending against three former brokers and Michael Bresner. The three brokers were charged with “churning” the accounts of customers, who had conservative investment objectives and low or moderate risk tolerances. The brokers involved are Ralph Calabro of Matawan, N.J., and Jason Konner and Dimitrios Koutsoubos, both of Brooklyn, N.Y. All work at different firms today.