Aileen Eppig, of Hauppauge, New York, a stockbroker formerly registered with Stifel, Nicolaus & Company, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that she failed to cooperate in a FINRA investigation into allegations that she engaged in unauthorized loan arrangements with customers. Letter of Acceptance, Waiver and Consent, No. 2015047608501 (Apr. 13, 2017).
According to the AWC, FINRA was notified by Stifel Nicolaus and Company that on October 30, 2015, the firm terminated Eppig. FINRA launched an investigation into Eppig’s termination, and requested on March 2, 2017, that Eppig provide recorded testimony before FINRA staff concerning Stifel Nicolaus’ allegations of her misconduct. Particularly, Stifel Nicolaus alleged that while Eppig was associated with the firm, she entered into a loan agreement with a customer for $103,000.00. Apparently, the loan arrangement as well as a $704,843.70 judgment had not been reported by Eppig to the firm.
The AWC stated that on March 10, 2017, Eppig’s counsel notified FINRA that Eppig would not be providing the recorded testimony requested by FINRA. As a consequence, FINRA found that Eppig’s refusal to testify was conduct violative of FINRA Rules 2010 and 8210, resulting in her permanent bar.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that on May 1, 2007, a customer initiated investment related written complaint involving Eppig’s conduct was settled for $1,701.00 in damages based upon allegations that Eppig, while associated with A.G. Edwards & Sons, Inc., failed to place the customer’s rollover funds into an individual retirement account, exposing the customer to tax liability. Additionally, on March 8, 2016, a customer initiated investment related arbitration claim regarding Eppig’s activities was resolved for $11,800.00 in damages based upon allegations that Eppig made misrepresentations to the customer, and effected unauthorized, excessive and unsuitable transactions in the customer’s account.
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