Scott Muirhead, of Jacksonville, Florida, a stockbroker with Merrill Lynch, Pierce, Fenner & Smith, Inc., was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that Muirhead failed to comply with a FINRA investigation. Letter of Acceptance, Waiver and Consent, No. 20150447853-01 (Apr. 19, 2016).
According to the AWC, on February 5, 2016, FINRA submitted a request to Muirhead to provide information and documentation in connection with allegations that Muirhead engaged in private securities transactions and mishandled customer funds. The request, per FINRA Rule 8210, required that Muirhead provide FINRA with the requested information by February 12, 2016.
The AWC stated that Muirhead’s counsel informed FINRA on February 12, 2016, that Muirhead understood what was being asked of him, but that he would not be providing FINRA personnel such information and documentation at any point. As such, FINRA found Muirhead to be in violation of FINRA Rules 2010 and 8210, which led to his permanent bar.
Public disclosure records reveal that Muirhead has been subject to three disclosure incidents. On December 11, 2013, Muirhead was subject of a bankruptcy discharge.
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