Elizabeth Ann Morrell of Westlake Village California a stockbroker formerly employed by Western International Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that she declined to cooperate with a FINRA investigation regarding allegations of her sales of promissory notes relating to Woodbridge Group of Companies. Letter of Acceptance Waiver and Consent No. 2020065734401 (July 2, 2020).
According to the AWC, on February 28, 2020, FINRA was made aware from Western International Securities that Morrell had been discharged based on allegations that she facilitated sales of unauthorized products. By April 8, 2020, an investigation was opened by FINRA which led to Morrell being instructed by the regulator to furnish documentation and information in response to the allegations of her Woodbridge promissory notes sales.
After failing to comply with FINRA’s request by the April 29, 2020 deadline, a second request for Morrell’s information and documentation had been made by the regulator. Morrell was supposed to respond by May 29, 2020 but she failed to do so. The AWC stated that FINRA personnel were contacted by Morrell on June 11, 2020 at which time Morrell made clear that she received FINRA’s correspondence but would not be producing the information and documentation requested of her. FINRA determined that Morrell hindered the investigation in this regard. She was found by the regulator to have violated FINRA Rules 2010 and 8210.
Morrell was registered with Western International Securities between May 27, 2008 and February 28, 2020.
