Alicia M. Moe, of Woodland Hills, California, a stockbroker with UnionBanc Investment Services, LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity after consenting to findings that she failed to cooperate in a FINRA investigation into allegations that she may have committed the conversion of customer funds. Letter of Acceptance, Waiver and Consent, No. 2016048717201(Mar. 1, 2016).

According to the AWC, on January 29, 2016, UnionBanc informed FINRA that Moe was terminated on December 30, 2015, in connection with allegations that she potentially converted customer funds. The AWC stated that FINRA launched an investigation into Moe’s alleged misconduct following UnionBanc’s notification.

The AWC stated that on February 2, 2016, FINRA sent Moe requests, pursuant to Rule 8210, that she provide on-the-record testimony, as well as provide information and documentation pertaining to the aforementioned allegations, by February 17, 2016.

Moe reportedly contacted FINRA on February 4, 2016, acknowledging FINRA’s requests, and days later provided some information in this regard. However, on February 12, 2016, FINRA contacted Moe to inform her that she provided insufficient information, and requested substantiation.

The AWC indicated that Moe eventually contacted FINRA staff to indicate that she would not be supplementing her prior remarks at any point, nor providing any on-the-record testimony in connection with the allegations of her potential conversion of customer funds. FINRA found that Moe’s failure to cooperate in the investigation was violative of FINRA Rules 8210 and 2010, leading to her permanent bar.

Public disclosure records reveal that on December 30, 2015, UnionBanc alleged that Moe was terminated after admitting, during a company’s internal investigation, that she took money from a UnionBank client’s deposit account for her personal use.

Guiliano Law Group

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