Kenneth Lynn Miller, of Greeneville, Tennessee, a registered representative with FTB Advisors, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that he obstructed a FINRA investigation into allegations that he converted customer funds. Letter of Acceptance, Waiver and Consent, No. 20160490980-01 (Mar. 30, 2016).
According to the AWC, on March 2, 2016, FTB Advisors notified FINRA that it terminated Miller on February 25, 2016. Public disclosure records reveal that Miller’s termination occurred amid allegations that he misappropriated $950,000.00 of customer funds for his own personal use.
Following receipt of FTB Advisors Form U5, which disclosed Miller’s termination, FINRA launched an investigation into the aforementioned allegations. As such, on March 7, 2016, Miller received a request by FINRA, per FINRA Rule 8210, that he submit information and documentation pertaining to the allegations.
The AWC stated that Miller’s attorney contacted FINRA on March 11, 2016, indicating that although Miller was apprised of FINRA’s requests for information and documentation, Miller would not be providing anything by their deadline or any point thereafter. FINRA found that Miller’s failure to cooperate in the investigation was violative of FINRA Rules 2010 and 8210, leading to his permanent bar.
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