Kajie McMullen is Subject of FINRA Disciplinary Action
Kajie McMullen (CRD #: 7052045), a broker formerly registered with J.P. Morgan Securities, is the subject of a FINRA regulatory action for allegedly failing to respond to FINRA's requests for information, according to her BrokerCheck Record, accessed on December 14, 2021. This is Kajie McMullen’s fifth disclosure — she has also been the subject of a FINRA suspension.
FINRA Disciplinary Action
The investigation stems from allegations that she refused to provide documents and information requested by FINRA in connection with its investigation based on allegations in J.P. Morgan Securities' Form U5 for Kajie McMullen dated October 30, 2020.
The Form U5 reported that J.P. Morgan Securities terminated Kajie McMullen for allegedly applying for, and receiving, a Small Business Administration grant without a legitimate business purpose. FINRA requested that Kajie McMullen provide information and documents relating to the firm's Form U5 explanation of her termination, including the Small Business Association applications, bank records, and tax records.
According to FINRA, Kajie McMullen initially stated that she did not have copies of some of the requested documents, including the applications she submitted to the Small Business Administration; however, after FINRA suggested how she could obtain them, she failed to comply with its request. Through counsel, she subsequently provided a partial response to FINRA's requests; however, the response was incomplete because she failed to provide any of the information and documents that FINRA sought.
By refusing to produce the documents and information requested pursuant to FINRA Rule 8210, Kajie McMullen violated FINRA Rules 8210 and 2010.
FINRA Rule 8210 requires that registered brokers supply FINRA staff with all information and documents requested in the course of an investigation. A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires member firms and their associated persons to "observe high standards of commercial honor and just and equitable principles of trade."
You can read a copy of the disciplinary action here.
Pursuant to FINRA Rule 9552, Kajie McMullen was suspended on May 10, 2021, from associating with any FINRA member firm in all capacities.
FINRA Rule 9552 applies in situations where a brokerage firm or representative has failed to provide information or keep information current. FINRA Rule 9552 is a Notice of Suspension if corrective action is not taken.
Employment Termination Details
On March 6, 2020, J.P. Morgan Securities fired Kajie McMullen for allegedly applying for, and receiving, a Small Business Administration grant without a legitimate business purpose.
Kajie McMullen has filed for two bankruptcies — one in 2012 and one in 2019.
Kajie McMullen has passed the following exams:
- Series 63 - Uniform Securities Agent State Law Examination
- Series 6TO - Investment Company Products/Variable Contracts Representative Examination
- SIE - Securities Industry Essentials Examination
Kajie McMullen has not worked with any other firm besides J.P. Morgan Securities.
Kurta Law Can Help
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