Enforcement Actions
Financial Industry Regulatory Authority (FINRA)
CASES OF NOTE
2011
NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.
February 2011 - View all for this month
Jarred A. Milliner
AWC/2010021764801
 Milliner was an ATM custodian whom both his member firm and a bank suspected of misappropriating funds from an ATM, and both began an internal investigation of his actions. Milliner denied taking any funds from an ATM, but in response to specific questioning, he admitted that he had misappropriated $100 from his teller drawer several months earlier. In connection with the internal investigation, Milliner made full restitution of the $100 and voluntarily resigned his employment.
Jarred A. Milliner: Barred
Tags: Bank  ATM  
Bill Singer's Comment

From a purely technical perspective, I don't like the presentation of the facts in this cases.  We are told that Milliner was "suspected" of misappropriating ATM funds but there is absolutely no suggestion or assertion that he was ever found guilty of that suspicion. What is irrefutable is his admission of stealing $100 from his teller drawer, for which he made full restitution. I'm really not sure what the allegations about the ATM have to do with anything in this case, at this point in time, and I don't feel that the inclusion of those suspicions are appropriate.  He's been barred. He has admitted to stealing $100. That's the case and those are the facts. Period.

Enforcement Actions
Search in Cases of Note : FINRA
Months
 
Cases of Note : FINRA Archive
Tags