Vanessa Beth-Anne Reeves-Farry of Oroville California is a stockbroker formerly registered with J.P. Morgan Securities LLC who has been fined five thousand dollars and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that she failed to timely cooperate with FINRA in an investigation into her potentially “unauthorized receipt of customer funds.” Letter of Acceptance Waiver and Consent No. 2016049096702 (Jan. 30 2018)
According to the AWC, on February 29, 2016, J.P. Morgan Securities LLC notified FINRA that at the time of Reeves-Farry’s termination, the firm investigated her for checks that had been endorsed and ultimately made payable to Reeves-Farry from a banking account owned by one of the firm’s customers.
Reeves-Farry was then subject of a FINRA investigation, in which FINRA notified Reeves-Farry that it sought information and documentation from her in regard to the allegations cited by the firm. The AWC stated that Reeves-Farry failed to respond to FINRA’s June 27, 2016 request, which called upon her to provide the documentation to FINRA by July 13, 2016. Apparently, another couple letters requesting that documentation were sent by FINRA to Reeves-Farry on May 25, 2017 and December 20, 2017. Yet, no documentation had been provided by Reeves-Farry in response by the deadlines imposed by FINRA.
The AWC stated that on May 25, 2017, FINRA also asked Reeves-Farry to provide recorded testimony in reference to her activities relating to the customer’s funds. The AWC stated that Reeves-Farry never bothered to make an appearance on June 21, 2017, prompting FINRA to request testimony from her again on July 17, 2017. After failing to respond, the AWC stated that FINRA notified Reeves-Farry that according to FINRA Rule 9552, she was suspended for failing to cooperate.
Reeves-Farry eventually responded to FINRA on October 23, 2017 seeking that her suspension be lifted. Reeves-Farry testified; however, her testimony came one-hundred seventy-five days after it had been requested, and the documentation she eventually handed over to FINRA was past due by eighteen months. FINRA found that Reeves-Farry’s failure to timely cooperate was violative of FINRA Rules 2010 and 8210.
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