Finra suspends broker who had assistant complete his coursework
MML Investors Services found that Danijel Velicki's assistant used his credentials to log in to firm's online learning system
The Financial Industry Regulation Authority Inc. has suspended a broker who instructed his assistant to complete his continuing education coursework in his place.
Danijel Velicki, a broker employed with MML Investors Services in Virginia, was required to complete four firm element training modules by Oct. 27, 2017. Though Mr. Velicki was away in Washington State from Oct. 23 to Oct. 27, MML found that someone in Virginia used Mr. Velicki’s exact credentials to log into the firm’s online learning system on Oct. 25 to complete the coursework, according to the Finra letter of acceptance, waiver and consent. His credentials were never used to access the system from Washington during that day.
(More: Finra suspends former UBS broker who traded excessively in elderly clients’ accounts)
MML submitted a U5, or termination notice, the following month, stating that it discharged Mr. Velicki for his actions. According to Finra, Mr. Velicki is not currently registered or associated with any Finra member firm, though he remains subject to its jurisdiction.
Mr. Velicki started his career in the securities industry 15 years ago in Park Avenue Securities in Virginia Beach, according to his BrokerCheck profile. He started working at MML in 2007 until his termination last November.
Mr. Velicki neither admits nor denies the charges, having submitted a letter of acceptance, waiver and consent.
(More: Finra bars another broker who sold $10.8 million of Woodbridge Ponzi)
Finra has suspended Mr. Velicki from any Finra member firm for three months, fined him $2,500, and has required that he complete 10 hours of continuing education within 60 days of reassociating with any Finra member firm.
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