Former MetLife rep fined $15,000 for borrowing from clients

Finra also suspends the broker, a firm lifer, for 18 months
SEP 01, 2017

The Financial Industry Regulatory Authority has imposed a fine of $15,000 on a former MetLife broker. A rep with 25 years of experience, William Roy Kimberlin was also suspended for 18 months in connection with allegations that he borrowed $30,000 from customers. Accepting or giving loans to clients is forbidden under Finra regulations, the regulator said in a letter of acceptance, waiver and consent. Mr. Kimberlin joined MetLife in 1992 and worked there for his entire career. He was terminated by the firm in 2016 for failing to follow its policy regarding loans from customers.

Latest News

Job numbers, inflation leaving room for Fed to hold rates
Job numbers, inflation leaving room for Fed to hold rates

Recent data support a measured pace by the Federal Reserve for the year ahead.

Farther adds $120M firm with science-backed approach to wealth management
Farther adds $120M firm with science-backed approach to wealth management

The latest addition to the tech-driven firm combines wellness and finances.

Cutting back on fun: a third of Americans plan to reduce spending on vices
Cutting back on fun: a third of Americans plan to reduce spending on vices

Your clients are likely to be spending on vices, depending on their generation.

Gold continues to shine, but will jobs data change that?
Gold continues to shine, but will jobs data change that?

Traders are awaiting the latest snapshot of US economic strength.

Veritas could be about to snap up one of Wall Street’s oldest names
Veritas could be about to snap up one of Wall Street’s oldest names

Private equity firm reportedly in talks to make an acquisition.

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.