Jacob Daniel Bourne of New York New York a stockbroker formerly registered with Deutsche Bank Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he hindered a FINRA investigation into Bourne’s alleged mismarking of customer’s order tickets. Letter of Acceptance Waiver and Consent No. 20170549430-01 (Sept. 27, 2018).
According to the AWC, Bourne was subject of a FINRA investigation following his termination from Deutsche Bank Securities Inc. Deutsche Bank Securities Inc. submitted a Form U5 to FINRA stating that Bourne had been discharged for violating the firm’s policies and procedures by mismarking orders on Deutsche Bank’s United States Inflation Desk.
Evidently, Bourne was sent a letter from FINRA dated August 9, 2018, in which he was instructed to provide FINRA personnel with information and documentation in regards to Deutsche Bank’s accusations of Bourne’s misconduct. Apparently, Bourne was advised in the Rule 8210 letter that his failure to provide FINRA with the information requested could lead to sanctions. Specifically, Bourne was warned that FINRA could find the failure to cooperate as a basis to bar him from the securities industry.
The AWC stated that Bourne’s counsel informed FINRA on August 23, 2018 that Bourne needed more time to cooperate with FINRA’s request. Bourne was then provided until September 7, 2018 to furnish FINRA with the requested information and documentation. Yet, a week after the deadline, Bourne’s counsel informed FINRA that Bourne would at no point provide any information or documentation. As a result of Bourne’s failure to cooperate with FINRA personnel, FINRA found Bourne to have violated FINRA Rules 2010 and 8210.
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