Judy Buchanan Healy, of Melbourne, Florida, a stockbroker formerly registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has been fined $25,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she triggered unauthorized initial public offering transactions. Letter of Acceptance, Waiver and Consent, No. 2015046150901 (June 27, 2017).
According to the AWC, fifty-three initial public offerings had been sold by Healy in the account of a family member; a restricted transaction based upon the account holder having a beneficial interest in the transaction. Merrill Lynch fired Healy on June 9, 2015, based upon the firm’s allegations that she omitted information from Merrill Lynch concerning trading securities in the account of a family member. FINRA found that Healy’s conduct was violative of FINRA Rules 2010 and 5130.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on October 4, 2016, a customer initiated investment related written complaint involving Healy’s conduct was settled for $7,578.78 in damages based upon allegations that she placed mutual funds trades in the customer’s account without authorization, and made unsuitable recommendations to the customer regarding investments.
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