FINRA has banished a former J.P. Morgan registered rep from the brokerage industry for failing to cooperate with an investigation into allegations that she misappropriated funds from a bank affiliated with J.P. Morgan Securities.
Whitley Kiara Hood worked for J.P. Morgan in Chicago and was voluntarily terminated in April, according to a settlement she reached with FINRA this month. She declined to provide on the record testimony regarding the allegations against her, a decision that automatically results in a bar, FINRA said.
FINRA did not provide details of the alleged wrongdoing beyond noting that it had to do with the possible diversion of funds from a J.P. Morgan-affiliated bank.
Hood did not return voice messages left at Northern Trust, where she works as an analyst, according to her LinkedIn profile. Hood serves as "a reporting contact for the client to provide resolution of complex transactions" and "provides assistance to account managers with queries received from clients regarding specific reporting issues," she writes in her profile.
Northern Trust Corp. is not listed as a FINRA member firm. The bar imposed by the regulator prevents her from working for FINRA member firms in any capacity, according to the settlement agreement.
Hood worked for J.P. Morgan Chase Bank from June 2013 to October 2014, when she joined J.P. Morgan Securities, BrokerCheck records show.
In her settlement with FINRA, Hood neither admitted nor denied the charges, but consented to an entry of FINRA's findings.
Michael Fusco, a spokesman for Chase Wealth Management, declined to comment on the matter.
Hood joins at least two other bank advisers barred from the industry this year for refusing to cooperate with FINRA investigations. Mark Peter Koestner, a former adviser with Wells Fargo in Naples, Florida, was barred in April for turning down FINRA's request to appear for an on-the-record interview regarding allegations that he engaged in a private securities transaction or an outside business activity that was not approved. Kenneth Lynn Miller, a former broker with First Tennessee Bank accused of stealing money from retail bank customers, faced a similar fate. He was ousted in March for refusing to provide the regulator with the documents and information it requested.
Register or login for access to this item and much more
All Bank Investment Consultant content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access