John William Cutshall of Baltimore Maryland a stockbroker currently registered with Lombard Securities Incorporated is subject of a Financial Industry Regulatory Authority (FINRA) Investigation in which FINRA recommended that a disciplinary action be brought against Cutshall for (1) converting a customer’s funds (2) failing to make required disclosures to Cutshall’s employing firms in reference to beneficiary designations (3) failing to be forthcoming in the completion of compliance questionnaires administered by Cutshall’s employer and (4) failing to provide documentation to FINRA personnel in the course of an investigation in Cutshall’s purported misconduct. FINRA Investigation (Mar. 20, 2018).
This is not the first time that Cutshall has been subject of a regulatory action in which he has been alleged to have engaged in inappropriate activities. Specifically, FINRA Public Disclosure confirms that on December 15, 2017, Cutshall was sanctioned by Federal Deposit Insurance Corporation (FDIC) based upon consenting to findings that while Cutshall was a stockbroker with Morgan Stanley and director of Woodsboro Bank, he engaged in inappropriate business practices concerning trusts, wherein Cutshall’s role as trustee enabled him to personally benefit or otherwise cause Woodsboro Bank to sustain financial losses. FDIC Case 140331e (Dec. 15, 2017).
Cutshall has been discharged by Morgan Stanley on May 19, 2014 supported by accusations of Cutshall’s misconduct by way of his role as fiduciary on outside investment accounts and effecting of withdrawals from a trust account.
Cutshall has been employed with Lombard Securities Incorporated since July 10, 2014.
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