William H. Merriam, IV, of Jacksonville, Florida, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith, Inc., has been fined and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in an investigation into his alleged forgery. Letter of Acceptance, Waiver and Consent, No. 2016052640301 (Aug. 18, 2017).
According to the AWC, FINRA was notified by Merrill Lynch that Merriam’s registration was terminated on January 13, 2017, following the firm’s investigation into allegations that accounts documents were provided to the firm containing customer signatures forged by Merriam.
Merriam was contacted by FINRA staff on July 14, 2017, where FINRA sought Merriam’s recorded testimony as part of the regulator’s investigation into allegations of Merriam’s forgery. Yet, Merriam’s counsel contacted FINRA staff on July 14, 2017, confirming that Merriam understood what was requested of him by FINRA but would at no point provide recorded testimony. FINRA found Merriam’s refusal to cooperate to constitute violations of FINRA Rules 2010 and 8210.
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