Finra bars ex-Merrill broker alleged to have borrowed money from clients

John James informed the regulator that he would not give testimony during its investigation into Merrill's allegations.
DEC 27, 2017

The Financial Industry Regulatory Authority Inc. has barred former Merrill Lynch broker John James for not appearing at a hearing looking into alleged activities that included borrowing money from clients. On March 24, 2016, Merrill Lynch filed a Form U5 reporting that Mr. James resigned while under internal review for allegedly engaging in undisclosed outside business activity, making private investments and borrowing money from clients. Finra's investigation was looking into those alleged activities. Mr. James began his securities career at Piper Jaffray in 2003. He joined Merrill Lynch in 2006. He joined Stifel, Nicolaus in 2016 but was terminated later that year for providing inaccurate information on his employment application regarding the status of Merrill's internal inquiry.

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