FINRA Suspends Former Merrill Advisor Over Unauthorized Trades

Posted on September 8th, 2022 at 1:48 PM
FINRA Suspends Former Merrill Advisor Over Unauthorized Trades

From the Desk of Jim Eccleston at Eccleston Law.

The Financial Industry Regulatory Authority (FINRA) has issued a 45-day suspension and a $5,000 fine on a former Merrill Lynch advisor who allegedly completed unauthorized trades in three separate client accounts.

The former California-based Merrill advisor, Conrad Branson, allegedly transacted 14 trades in an account for a client known as ‘Customer A’ between September 2019 and February 2020 without obtaining prior authorization, knowledge or consent, according to FINRA. FINRA further alleged that Branson completed trades in non-discretionary accounts without obtaining prior written consent from Customer A and two additional clients during the same time period.

According to FINRA, Merrill has reimbursed Customer A for $78,919 in losses. Branson, who was managing nearly $150 million in client assets, departed Merrill in June to join Birchwood Wealth Advisors, which is affiliated with advisory firm aggregator Kingswood US. According to BrokerCheck, Branson also was involved in a previous client dispute related to unauthorized trading in April 2020, which settled for $34,341 while Branson did not contribute.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, advisors, finra

Return to Archive

TESTIMONIALS

Previous
Next

You are the best attorneys in the country.

CC

LATEST NEWS AND ARTICLES

February 20, 2026
Edward Jones Expands Equity-Style Awards to Thousands More Advisors

Edward D. Jones & Co. has expanded eligibility for its “profits interest” award, extending the equity-style incentive to thousands more advisors, according to a Securities and Exchange Commission filing reviewed by AdvisorHub.

February 19, 2026
Wall Street Journal Analysis Questions Investor Gains Following DuPont's Decade-Long Breakup

A Wall Street Journal analysis has raised questions about investor returns following DuPont’s multi-year corporate restructuring, which divided the historic conglomerate into multiple independent companies.

February 18, 2026
American Portfolios Ordered to Pay $4.6 Million in Restitution Over Cash Sweep Program Disclosures

The Financial Industry Regulatory Authority (FINRA) has ordered American Portfolios Financial Services to return $4.6 million to customers and pay monetary sanctions after determining that the firm overcharged investors and failed to properly disclose how it generated revenue through a cash sweep program.