Edward Steven Mercer (also known as Ed Mercer), of Coral Springs, Florida, a stockbroker registered with Cambridge Investment Research Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because he failed to cooperate with the regulator in connection with its investigation into a customer’s investment in a crypto asset. Letter of Acceptance, Waiver, and Consent No. 2023079873002 (November 15, 2023).
On October 16, 2023, FINRA requested Mercer to provide testimony as part of their investigation into a customer’s investment in a crypto asset offering that was not conducted through Mercer’s employer, Cambridge Investment Research Inc. On November 6, 2023, Mercer, through his lawyer, communicated his decision not to comply with FINRA’s request. By refusing to appear for the testimony, Mercer violated Rules 8210 and 2010.
Mercer was associated with Cambridge Investment Research Inc. in Coral Springs, Florida from September 1, 2022, to November 8, 2023. He was permitted to resign on November 3, 2023, amid the firm’s process to terminate its relationship with him due to his unwillingness to cooperate with regulatory and firm inquiries. Mercer was also associated with LPL Financial LLC in Coral Springs, Florida, from December 15, 2021, to September 8, 2022.
