{"id":9496,"date":"2020-11-23T17:14:49","date_gmt":"2020-11-23T22:14:49","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=9496"},"modified":"2020-11-23T17:15:02","modified_gmt":"2020-11-23T22:15:02","slug":"omar-hammad-randolph-merrill-lynch-broker-suspended-for-borrowing-from-client","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/omar-hammad-randolph-merrill-lynch-broker-suspended-for-borrowing-from-client\/","title":{"rendered":"Omar Hammad-Randolph, Merrill Lynch Broker, Suspended For Borrowing From Client"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9497 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/11\/Omar-Hammad-Randolph.jpg\" alt=\"Omar Hammad-Randolph (Omar Waleed Hammad-Randolph CRD# 6087721) is a previously registered broker who last worked for Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated (CRD# 7691) in their Boca Raton, Florida office. FINRA suspended Omar Hammad-Randolph for borrowing $150,000 from a customer without disclosing the loan or obtaining approval from the firm. Omar Hammad-Randolph Disclosures Omar Hammad-Randolph has been in the securities industry since 2012 and has 4 disclosures on his publicly-available FINRA BrokerCheck report: August, 2020: A regulatory disclosure initiated by FINRA states \u201cWithout admitting or denying the findings, Hammad-Randolph consented to the sanctions and to the entry of findings that he borrowed $150,000 from a customer at his member firm without disclosing the loan to, and obtaining approval from, the firm. The findings stated that Hammad-Randolph purchased a house for investment which he partially financed through the loan that he obtained from the customer. The findings also stated that Hammad-Randolph engaged in outside business activities without disclosing them in writing to, and obtaining approvals from, the firm for the expanded scope of his and his trust's business activities\u2026\u201d Omar Hammad-Randolph was fined $10,000 and suspended in all capacities for five months.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/11\/Omar-Hammad-Randolph.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/11\/Omar-Hammad-Randolph-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Omar Hammad-Randolph (Omar Waleed Hammad-Randolph CRD# 6087721) is a previously registered broker who last worked for Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated (CRD# 7691) in their Boca Raton, Florida office. FINRA suspended Omar Hammad-Randolph for borrowing $150,000 from a customer without disclosing the loan or obtaining approval from the firm. <a href=\"https:\/\/www.silverlaw.com\/blog\/omar-hammad-randolph-merrill-lynch-broker-suspended-for-borrowing-from-client\/#more-9496\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Omar Hammad-Randolph (Omar Waleed Hammad-Randolph CRD# 6087721) is a previously registered broker who last worked for Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated (CRD# 7691) in their Boca Raton, Florida office. FINRA suspended Omar Hammad-Randolph for borrowing $150,000 from a customer without disclosing the loan or obtaining approval from the firm. Continue reading \u203a<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[577,580],"tags":[],"class_list":["post-9496","post","type-post","status-publish","format-standard","hentry","category-finra-disciplinary-actions","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Omar Hammad-Randolph, Merrill Lynch Broker, Suspended For Borrowing<\/title>\n<meta name=\"description\" content=\"Omar Hammad-Randolph is a previously registered broker who last worked for Merrill Lynch in their Boca Raton, Florida office.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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