Broker Investigation: Luke A. Eddy

Broker Investigation: Luke A. Eddy

Luke A. Eddy (CRD#: 6364037) was employed as a securities broker at Merrill Lynch in Worcester, Massachusetts from 2014 to 2017.

In May of 2017, Mr. Eddy was discharged from his position at the firm after the firm determined that he impersonated a client during a phone conversation with internal firm personnel and he forged the client’s signature on brokerage firm documents.

Suspended Broker: Former Merrill Lynch Representative Luke A. Eddy

Soon after he was terminated, FINRA launched its own investigation into the allegations against Luke A. Eddy. On September 11th, 2018 the agency announced that Mr. Eddy is being suspended from the industry for three months (until December 16th, 2018) and is being fined $5,000.

FINRA determined that Luke A. Eddy did indeed impersonate an elderly customer during a recorded call with the brokerage firm. He did this in an attempt to get a check mailed to her daughter. When the firm blocked the transaction due to suspicions of impersonation, Mr. Eddy then forged her signature on firm documents.

Without admitting or denying any wrongdoing, Mr. Eddy consented to FINRA’s findings that he impersonated an elderly client during a phone conversation. Unfortunately, elder financial abuse remains a very serious problem. It is crucial that elderly investors receive the utmost protection from brokerage firms.

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