John Marmion Subject of a Final Order from the Ohio Division of Securities

John Marmion (CRD #: 1139175), a broker registered with UBS Financial Services, has been the subject of a Cease and Desist Order issued by the Ohio Division of Securities. This order is documented in his BrokerCheck record and can also be found in the Ohio Department of Commerce Division Final Orders, Order 23-022. To understand the details of this order, continue reading.

On June 28, 2023, John Marmion entered into a Consent Agreement with the Ohio Department of Commerce Division of Securities. In doing so, he acknowledged the findings that he had failed to adhere to his firm’s internal written policy and procedure for reporting a suspected case of financial exploitation. This alleged misconduct also constituted a violation of Ohio state law concerning elder financial exploitation.

According to the Order, John Marmion became suspicious when an elderly client requested a withdrawal of $200,000 from her account in four separate checks of $50,000 each. She explained that she intended to use this money to purchase a house. John Marmion allegedly questioned whether she might be falling victim to a scam. Subsequently, the client’s son informed him that his mother had been deceived into believing that her son had been kidnapped, and she had sent the cash payments as ransom to secure his release.

Background Information

John Marmion holds several qualifications, including:

He is registered as a broker in 14 states and holds registration as an investment adviser in Ohio and Texas.

John Marmion has been associated with the following firms: