Jeffrey Slothower, a former registered broker with Merrill Lynch, recently entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA). In January 2016, Mr. Slothower allegedly wired money to a Merrill Lynch customer’s bank account to offset the customer’s brokerage account losses, when he was registered with PCS. This is against FINRA rules and internal firm policies. Merrill Lynch can be held liable for your losses because of Mr. Slothower’s transgressions. For this, he was fined $5,000 and suspended from association with any FINRA member firm in any capacity for 15 business days. According to online, public records with FINRA, Mr. Slothower was previously registered with First New York Securities in New York, New York, Spear, Leeds & Kellogg Specialists, Goldman Sachs, Assent LLC, Northwestern Mutual Investment Services, in New York, Merrill Lynch in New York from April 2010 until January 2016 and Private Client Services in New York from January 2016 until June 2016. He is not currently registered as a broker.
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