John Cochran Maccoll of Birmingham Michigan a stockbroker formerly employed by UBS Financial Services Inc. has been suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by allegations of his failure to provide FINRA personnel with a response to its request for Maccoll’s information. FINRA Case No. 2018057662601 (Apr. 23, 2018).
FINRA Public Disclosure reveals that Maccoll has been identified in eight customer initiated investment related disputes containing accusations of Maccoll’s misconduct while employed by UBS Financial Services Inc., Morgan Stanley DW, Inc. and Dean Witter Reynolds Inc. In particular, a customer initiated investment related arbitration claim concerning Maccoll’s activities was settled to resolve allegations that Maccoll failed to execute an annuity transaction. FINRA Arbitration No. 08-04506 (May 13, 2009).
Then, a customer initiated investment related arbitration claim involving Maccoll’s conduct was resolved for $45,000.00 in damages based upon accusations that terms and conditions of six variable annuities which were bought by customers had been misrepresented by Maccoll. FINRA Arbitration No. 09-06231 (Jan. 26, 2011). Another customer initiated investment related arbitration claim pertaining to Maccoll’s activities was settled for $42,500.00 in damages founded on accusations that the customer was poorly advised with regard to the allocation of the customer’s assets in annuities and mutual funds. FINRA Arbitration No. 13-03074 (Mar. 25, 2015).
On April 3, 2018, another customer initiated investment related complaint pertaining to Maccoll’s conduct was resolved for $173,892.04 in damages based upon allegations that between April 19, 2017 and February 12, 2018, Maccoll committed fraud in reference to the customer’s private placements. Further, on March 22, 2018, a customer brought an investment related complaint pertaining to Maccoll’s conduct in which the customer sought damages estimated to exceed $5,000.00 supported by accusations that between January 3, 2017 and March 19, 2018, the customer was misled with respect to the type of investments that would be selected for the customer’s account, and sustained catastrophic losses on private placements that were not suitable for the customer. On March 28, 2018, another customer filed an investment related complaint regarding Maccoll’s activities where the customer requested $820,231.49 in damages founded on allegations that Maccoll committed fraud.
Maccoll has been discharged by UBS Financial Services. as of March 15, 2018 based upon accusations that he was uncooperative in the firm’s internal investigation into his activities and admitted to UBS that he misappropriated funds belonging to thirteen customers.
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