Northwestern Mutual Stockbroker Barred In Investigation
Meaghan Marie Johnson of Mc Lean Virginia a stockbroker formerly registered with Northwestern Mutual Investment Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Johnson failed to cooperate in a FINRA investigation into accusations of her involvement in forging documents relating to customer account transactions. Letter of Acceptance, Waiver and Consent No. 2017053173001 (May 23, 2018).
According to the AWC, FINRA’s investigation into the stockbroker commenced after receiving a Uniform Termination Notice for Securities Industry Registration (Form U5) which revealed that Johnson had been terminated by Northwestern Mutual during the time that she was investigated for possible infractions including forgery. Northwestern Mutual received a complaint from one of its clients which indicated that Johnson’s partners forged customer signatures on documentation, leading the securities broker dealer to suspect that Johnson could have played a part. Subsequent to Johnson’s departure from Northwestern Mutual, more customers brought complaints alleging her misconduct.
The AWC stated that on January 30, 2018, a written request was made by FINRA for Johnson to provide recorded testimony in response to the allegations set forth by Northwestern Mutual. Johnson was expected to make an appearance on March 12, 2018 in order to comply with FINRA Rule 8210, but she never showed up. After having received a second request from FINRA, Johnson confirmed with the regulator that she would not be cooperating in the investigation.
FINRA additionally stated that its request for Johnson’s documentation and information failed to be fulfilled. Specifically, Johnson was asked by FINRA on January 30, 2018 for information and documentation for purposes of evaluating her possible infractions of FINRA rules. The stockbroker did not respond to that request, nor did she respond to an additional request made by FINRA on February 14, 2018. FINRA determined Johnson’s conduct to be violative of FINRA Rules 2010 and 8210.
FINRA Public Disclosure reveals that Johnson has been referenced in nine customer initiated investment related disputes containing accusations of her violative conduct while she was employed by Northwestern Mutual Investment Services. Specifically, a customer initiated investment related written complaint concerning Johnson’s activities was resolved on April 25, 2018 for $470,679.93 in damages based upon allegations that the customer’s annuity and insurance documentation had been altered without the customer’s consent.
Johnson is also the subject of a customer initiated investment related complaint which was resolved on April 26, 2018 for $290,635.40 in damages supported by accusations of unauthorized transactions having been effected in the customer’s account. On August 2, 2018, another customer initiated investment related complaint involving Johnson’s conduct was settled for $123,313.46 in damages based upon allegations of the stockbroker engaging in unauthorized transactions and forging customer documents to effect insurance transactions.
In addition, on November 6, 2018, a customer initiated investment related complaint concerning Johnson’s conduct was settled for $33,383.27 in damages founded on allegations that, among other things, the customer was placed into mutual funds by Johnson that were in no way suitable and which caused the customer to experience losses.
Johnson’s employment with Northwestern Mutual was terminated on January 19, 2017.