{"id":4212,"date":"2017-03-10T11:26:57","date_gmt":"2017-03-10T17:26:57","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4212"},"modified":"2022-03-25T14:11:16","modified_gmt":"2022-03-25T19:11:16","slug":"securities-fraud-ex-bb-t-securities-suspended-unauthorized-private-securities-sales-fired-merrill-lynch-broker-fined-accepting-customer-gifts-louisiana-investment-adviser-co","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-ex-bb-t-securities-suspended-unauthorized-private-securities-sales-fired-merrill-lynch-broker-fined-accepting-customer-gifts-louisiana-investment-adviser-co\/","title":{"rendered":"Securities Fraud: Ex-BB &#038; T Securities is Suspended Over Unauthorized Private Securities Sales, Fired Merrill Lynch Broker is Fined for Accepting Customer Gifts, Louisiana Investment Adviser is Convicted in $9.5M Scheme, &#038; Jury Issues First Criminal Municipal Bond Issuance-Related Conviction"},"content":{"rendered":"<p>&nbsp;<\/p>\n<h2><strong>FINRA Suspends Broker For Accepting $105K in Gifts<\/strong><\/h2>\n<p>The Financial Industry Regulatory Authority Inc. has suspended a former Merrill Lynch broker, Adam C. Smith, from the securities industry for a year. The former Merrill Lynch broker, who was fired from the firm, will pay a $10K fine.<\/p>\n<p>According to the self-regulatory organization, while at Merrill Lynch, Smith and his wife accepted $26K in checks from a couple whom he represented. The money was to help fund the education of Smith\u2019s children. When one of the clients passed away, the remaining spouse gifted Smith and his wife another $53K, again to pay for their kids\u2019 education. Smith received $26K from other clients.<\/p>\n<p>Although he is settling, the ex-Merrill Lynch broker is not denying or admitting to FINRA\u2019s findings.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-ex-bb-t-securities-suspended-unauthorized-private-securities-sales-fired-merrill-lynch-broker-fined-accepting-customer-gifts-louisiana-investment-adviser-co\/#more-4212\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; FINRA Suspends Broker For Accepting $105K in Gifts The Financial Industry Regulatory Authority Inc. has suspended a former Merrill Lynch broker, Adam C. Smith, from the securities industry for a year. The former Merrill Lynch broker, who was fired from the firm, will pay a $10K fine. According to the self-regulatory organization, while at [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3739,3781,3738,3800,3922,3855,3741,3955],"tags":[2761],"class_list":["post-4212","post","type-post","status-publish","format-standard","hentry","category-finra","category-investment-advisers","category-investor-fraud","category-merrill-lynch","category-municipal-bonds","category-municipal-securities-offerings","category-securities-fraud","category-selling-away","tag-bb-t"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fired Merrill Lynch Broker is Fined for Accepting Customer Gifts &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority Inc. has suspended Adam C. Smith, a former Merrill Lynch broker for accepting over $105K in gifts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-ex-bb-t-securities-suspended-unauthorized-private-securities-sales-fired-merrill-lynch-broker-fined-accepting-customer-gifts-louisiana-investment-adviser-co\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Fired Merrill Lynch Broker is Fined for Accepting Customer Gifts &#8212; Investor Lawyers Blog\" \/>\n<meta name=\"twitter:description\" content=\"The Financial Industry Regulatory Authority Inc. has suspended Adam C. 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