Former securities representative charged with using firm funds to make personal purchases
The representative also failed to provide information and documents requested by FINRA.
This is a complaint and not an AWC.
FINRA Rule 2010
FINRA Rule 8210
Former securities representative barred for allegedly refusing to provide documents and information or appear for on-the-record testimony
FINRA Rule 2010
FINRA Rule 8210
Former products principal suspended and fined for allegedly participating in private securities transactions without notice to or approval from his firm
The principal’s involvement in the investments “included introducing investors to the investment opportunity, providing information regarding the funds offered by the company to investors, and facilitating their transactions” and he received a payment of $4,000 for this work.
A disgorgement payment of $4,000 plus interest has also been imposed.
FINRA Rule 2010
FINRA Rule 3280
Merrill Lynch censured and fined for allegedly accepting orders for the purchase of shares prior to the commencement of their trading in the secondary market
The firm’s controls and WSPs inaccurately defined “acceptance” in this context as the time an order was routed for execution. As a result the firm’s representatives were able to accept orders before trading in the shares on the secondary market commenced and were then able to execute such orders after the market had opened.
The firm has agreed to the imposition of an undertaking requiring it to certify in writing the remediation of the issues identified.
FINRA Rule 2010
FINRA Rule 3110
FINRA Rule 5131
Former securities representative suspended and fined for allegedly exercising discretionary authority in accounts without prior authorization
FINRA Rule 2010
FINRA Rule 3260
Former securities representative barred for refusing to provide requested information and documents
FINRA Rule 2010
FINRA Rule 8210
Former sales assistant suspended and fined for allegedly forging customer signatures
The transactions in question were authorized and no customers complained.
FINRA Rule 2010
| Unless otherwise noted all respondents accepted and consented to FINRA’s findings without admitting or denying them. |
