Voya Stockbroker Fined By FINRA For Unauthorized Trading

Joshua D. Bradley of Columbia South Carolina is a stockbroker formerly registered with Voya Financial Advisors Inc. who has been fined $15,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected discretionary trades in customer accounts when he was not affiliated with the firm. Letter of Acceptance Waiver and Consent No. 2016048640801 (Nov. 2, 2017).

According to the AWC, Bradley’s registration with Voya Financial Advisors, Inc. was terminated on December 1, 2015. Evidently, Bradley became employed with Merrill Lynch, Pierce, Fenner & Smith Inc. days prior, and on December 2, 2015, while Bradley was employed at Merrill Lynch, he gained unauthorized access to customers’ trading accounts and executed seven trades in accounts owned by five Voya Financial Advisors, Inc. customers on a discretionary basis.

On December 10, 2015, Bradley reportedly effected an additional trade in a Voya Financial Advisors customer account, at which point Bradley’s trading credentials were not valid. Apparently, Bradley utilized the credentials of another stockbroker to effect the trades. The AWC stated that Bradley never informed Merrill Lynch about his activities relating to his discretionary trading. As a result, FINRA found that Bradley’s conduct was violative of National Association of Securities Dealers (NASD) Rule 3050(c) and FINRA Rule 2010.

Bradley was fired from Merrill Lynch on February 23, 2016 based upon allegations that he gained unauthorized access to his former employer’s customer accounts and placed trades without ever informing Merrill Lynch about his activities.

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