man pocketing cash

William H. Merriam IV recently signed a letter of acceptance, waiver and consent (“AWC”) with FINRA agreeing to be barred from the securities industry.

Merriam joined Merrill Lynch in June 2014 to work in the Jacksonville FL branch office of Merrill Lynch. He worked with his father.

In January 2017 Merriam voluntarily resigned from Merrill Lynch. Merrill Lynch filed his U-5 termination notice after his resignation and indicated that at the time of his resignation he was under internal review for conduct involving the forgery of customer signatures on account documents.

FINRA commenced a regulatory inquiry into Merriam’s actions. In the course of that investigation, FINRA requested that Merriam appear to give testimony in an on the record interview (“OTR”). Merriam, through his attorney, indicated that he refused to appear before FINRA to give testimony.

Such refusal is a clear violation of FINRA rules.

Merriam agreed to be barred from the securities industry based on his failure to cooperate in FINRA’s investigation of the forgery allegations.

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Nicholas J. Guiliano has over twenty years experience representing investors before the Financial Industry Regulatory Authority, the New York Stock Exchange and before the National Association of Securities Dealers, Office of Dispute Resolution. Over the last twenty years, he has represented more than a thousand investors from all across the United States and from several foreign countries, in claims against stockbroker and broker-dealers for fraud, breach of fiduciary duty, churning or excessive trading, the sale of unsuitable investments, the sale of defective investments, the sale of unregistered securities, and the failure to supervise. He is frequently quoted in the national media on securities and investment related issues, most recently on National Public Radio. He offers his services on purely a contingent fee basis, and is also a member of Public Investors Arbitration Bar Association.