Karen McKinley, of Manchester, New Hampshire, a stockbroker formerly registered with Morgan Stanley, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she obstructed a FINRA investigation into allegations of potential non-compliance regarding trading in customer accounts that was referenced by Morgan Stanley in connection with McKinley’s termination from employment on August 15, 2016. Letter of Acceptance, Waiver and Consent, No. 20160512829-01 (Nov. 30, 2016).
According to the AWC, McKinley was sent a request from FINRA on September 21, 2016, according to Rule 8210, which called upon McKinley to provide FINRA personnel with information and documentation regarding allegations against McKinley pertaining to retrieval of trading confirmations from customers in investment accounts that the firm did not approve for discretionary trading.
On October 11, 2016, counsel for McKinley reached out to FINRA personnel to indicate that information and documentation would not be provided by McKinley at any point. FINRA found that McKinley’s failure to cooperate in this regard was conduct violative of FINRA Rules 2010 and 8210.
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