Finra has barred a former Merrill Lynch client associate accused of taking more than $24,000 from a broker’s account, according to the industry’s self-regulator.
Julie Ann Mineard joined the firm in 1999 and from 2006, while working as a registered senior client associate in its Seattle branch, was assigned to assist a registered representative only identified as “IH,” in part by paying his personal bills through disbursement requests from IH’s Merrill Lynch brokerage account, according to a letter of acceptance, waiver and consent published by Finra.
From July through September 2017, Mineard allegedly submitted four check requests for disbursement from IH’s brokerage account to her own personal bank accounts, without IH’s knowledge, for a total of $24,044, the regulator says.
She then allegedly used the funds for unspecified personal expenses, according to the letter of acceptance.
Merrill Lynch terminated Mineard’s registration with the firm on Dec. 6, 2017, citing “loss of management’s confidence related to Mineard’s inaccurate characterization of disbursements from an employee’s account,” among other infractions, Finra says.
She never registered with another firm, according to the letter of acceptance. The regulator doesn’t disclose whether Mineard ever returned the money.
Mineard, who has no other disclosures on her BrokerCheck record, consented to the bar without admitting or denying Finra’s findings, the regulator says.