Robert Nash of Deltona Beach, Florida and Merrimac Corporate Securities, Inc., (Merrimac) of Altamonte Springs, Florida have been fined and suspended by the Financial Industry Regulatory Authority (FINRA) Department of Enforcement for failing to establish and maintain a reasonable supervisory system and for falsifying Deposit Securities Request Forms (DSR Forms). Merrimac was a general securities broker-dealer that first became registered as a FINRA member in 1993, where Nash served as the Chief Compliance Officer (CCO).
While Merrimac was under investigation by FINRA, it was determined that Merrimac, through Nash, provided false documents to FINRA and that “Merrimac and certain of its employees violated federal securities regulations and FINRA rules relating to a variety of topics.” Over the course of the investigation, Merrimac provided 37 falsified documents to FINRA. Nash, CCO of Merrimac, acknowledged that he was responsible for the information in the documents. Continue Reading