FINRA Suspends Former Merrill Lynch Employee For Not Reporting…
- The US Financial Industry Regulatory Authority (FINRA) has fined and suspended an ex-Merrill Lynch banker for allegedly starting a crypto mining operation without informing his company.
- According to the “letter of acceptance, waiver and consent,” the employee, Kyung Soo Kim, who served Merrill Lynch as a General Securities Representative and an Investment Company Variable Contracts Products Representative from March 2014 to April 2018, launched a crypto mining company, called S Corporation, in late 2017, just before bitcoin’s price peaked at around $20,000.
- Kim has been fined $5,000 for the infraction and suspended from working for any FINRA member entity in any capacity for one month.
Read full article: blocktribune.com