Christopher C. Hellman of Boca Raton Florida a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Hellman failed to cooperate with FINRA personnel in an investigation into Hellman’s alleged private securities transactions. Letter of Acceptance Waiver and Consent No. 2018060168801 (Dec. 13, 2018).
According to the AWC, a Form U5 had been submitted to FINRA by Merrill Lynch which revealed that the firm terminated Hellman on October 16, 2018 based upon allegations that Hellman did not comply with the standards imposed by the firm regarding the disclosure of outside business activities and engagement in private securities transaction.
Following up in this regard, FINRA launched an investigation into Hellman’s conduct. The AWC stated that FINRA sent Hellman a request on October 26, 2018 calling on Hellman to provide information and documentation to the investigators. FINRA reportedly sought information about Hellman’s involvement in unapproved private securities transactions and outside business activities.
The AWC stated that FINRA personnel were then contacted by Hellman on November 19, 2018. FINRA apparently received confirmation from Hellman that he would not be providing the information and documentation to FINRA. FINRA found that Hellman’s failure to cooperate in this respect was violative of FINRA Rules 2010 and 8210. Hellman was barred as a result.
FINRA Public Disclosure additionally reveals that on September 17, 2018, a customer filed an investment related complaint involving Hellman’s activities where the customer sought $600,000.00 in damages supported by accusations that the customer’s funds had been misappropriated on October 23, 2017.
