{"id":6089,"date":"2017-01-02T13:01:35","date_gmt":"2017-01-02T19:01:35","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1320"},"modified":"2017-01-02T13:01:35","modified_gmt":"2017-01-02T19:01:35","slug":"refusal-testify-finra-securities-allegations-lead-industry-bars-former-merrill-lynch-rbc-capital-markets-jp-morgan-brokers","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/refusal-testify-finra-securities-allegations-lead-industry-bars-former-merrill-lynch-rbc-capital-markets-jp-morgan-brokers\/","title":{"rendered":"Refusal to Testify Before Finra Over Securities Allegations Lead to Industry Bars for Former Merrill Lynch, RBC Capital Markets, and JP Morgan Brokers"},"content":{"rendered":"

\t\t\t\tThe Financial Industry Regulatory has barred a broker who worked at Merrill Lynch <\/a>for almost half a century from the securities industry. Louise J. Neale left the broker-dealer and voluntarily ended her registration with the firm last year during an internal probe about her supervisory performance involving fund transactions. She later refused to testify about her resignation before FINRA. This is a violation of the self-regulatory organization\u2019s rules and was immediate grounds for the industry bar. Although Neale worked at Merrill since 1968, it wasn\u2019t until 2003 that she became a registered representative and later a supervisor.<\/p>\n

In an unrelated case, FINRA barred another ex-broker for violating firm policies after he, too, refused to testify about the allegations in front of the SRO. John Simpson worked at RBC Capital Markets from 3\/2009 to 2\/2016. He was let go by the firm for violating its policies about discretion related to client accounts.<\/p>\n

Meantime, FINRA has barred two ex-JP Morgan (JPM)<\/a> brokers. One of the brokers, Brian Alexander Torres, had only been in the securities industry for two months when he was fired by the broker-dealer. Torres admitted that he misappropriated funds from the firm\u2019s affiliate bank.\u00a0Finra asked Torres for information and documents, but he would not provide them nor would he testify.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory has barred a broker who worked at Merrill Lynch for almost half a century from the securities industry. Louise J. Neale left the broker-dealer and voluntarily ended her registration with the firm last year during an internal probe about her supervisory performance involving fund transactions. She later refused to testify about […]<\/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":[3739,3958,3800],"tags":[2696],"class_list":["post-6089","post","type-post","status-publish","format-standard","hentry","category-finra","category-jp-morgan-chase","category-merrill-lynch","tag-rbc-capital-markets"],"yoast_head":"\nRefusal to Testify Before Finra Over Securities Allegations Lead to Industry Bars for Former Merrill Lynch, RBC Capital Markets, and JP Morgan Brokers — Investor Lawyers Blog — January 2, 2017<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory has barred a broker who worked at Merrill Lynch for almost half a century from the securities industry. Louise J. 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