Louise J. Neale, of Atlanta, Georgia, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, Inc., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she failed to cooperate in a FINRA investigation into allegations that Neale mishandled her supervisory duties pertaining to certain funds based transactions. Letter of Acceptance, Waiver and Consent, No. 2015047176001 (Dec. 7, 2016).
According to the AWC, on August 9, 2016, Neale was sent a request from FINRA, per FINRA Rule 8210, which requested that Neale provide personnel with recorded testimony pertaining to the basis of her registration termination from Merrill Lynch. Neale’s termination was reportedly based upon allegations of Neale’s supervisory mishaps pertaining to the funds transactions.
The AWC stated that on August 19, 2016, Neale’s counsel responded to FINRA and indicated that Neale would not be providing recorded testimony concerning the firm’s allegations at any point. FINRA found that Neale’s failure to cooperate in this regard was violative of FINRA Rules 2010 and 8210, leading to her permanent bar.
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