Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that former general securities representative, Elizabeth Ann Morrell (CRD # 4905003) was recently barred from the securities industry by FINRA’s Department of Enforcement. The sanction occurred as a result of an investigation into her participation in sales (a private securities offering) of promissory notes related to the Woodbridge Group of Companies LLC. Ms. Morrell refused to cooperate in the investigation.
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Ms. Morrell.
Registration Background for Elizabeth Ann Morrell
Ms. Morrell first became registered in the securities industry in 2005 and was most recently registered with Westlake Village, CA Western International Securities, Inc. (CRD # 39262) from May 2008 to February 2020. Her prior registration(s) include Financial West Group (CRD# 16668) from May 2005 to June 2008.
FINRA’s Allegations against Elizabeth Ann Morrell
FINRA’s investigation led to Ms. Morrell entering into a Letter of Acceptance, Waiver and Consent (AWC) with FINRA on July 2, 2020. According to the AWC, Ms. Morrell consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “On April 8, 2020, FINRA staff sent a request to [Ms.] Morrell for documents and information pursuant to FINRA Rule 8210… in connection with its investigation of [Ms.] Morrell’s participation in sales of promissory notes related to the Woodbridge Group of Companies LLC”;
- “[Ms.] Morrell did not respond”;
- “On May 8, 2020, FINRA staff sent a second request to [Ms.] Morrell for the same documents and information previously requested, again pursuant to FINRA Rule 8210”;
- “[Ms.] Morrell’s response to the second request was due on or before May 29, 2020, but she did not respond”;
- “On June 11, 2020, [Ms.] Morrell contacted FINRA staff and stated that she would not respond to the requests”;
- “As stated in [Ms.] Morrell’s telephone call with FINRA staff, and by this agreement, [Ms.] Morrell acknowledges that she received FINRA’s Rule 8210 requests and will not produce the documents and information requested”; and
- By virtue of the above, Ms. Morrell violated FINRA Rule 8210 and FINRA Rule 2010.
FINRA Sanctions Elizabeth Ann Morrell
As a result of such violations and in addition to the above described findings and conclusions, FINRA’s July 2, 2020 AWC also indicates that Ms. Morrell consented to the following sanction:
- A bar from association with any FINRA member in any capacity.
Elizabeth Ann Morrell Does Not have a History of Complaints
In addition to the findings of FINRA’s Department of Enforcement, FINRA BrokerCheck for Ms. Morrell reveals she does not have a history of customer complaints and/or arbitrations.
If you or someone you know has or had a brokerage account with Ms. Elizabeth Ann Morrell and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.