For the purpose of proposing a settlement of rule violations alleged by the Financial Industry Regulatory Authority ("FINRA"), without admitting or denying the findings, prior to a regulatory hearing, and without an adjudication of any issue, Casi Marie Martin submitted a Letter of Acceptance, Waiver and Consent ("AWC"), which FINRA accepted. In the Matter of Casi Marie Martin, Respondent (AWC 2012033861801, March 26, 2013).
In October 2011, Martin obtained her Series 6 and 63 licenses while employed as a personal banker at the Jenks, OK, branch office of J.P. Morgan Chase Bank N.A. and a registered representative of FINRA member firm Chase Investment Services Corp. The AWC asserts that Martin had no prior disciplinary history in the securities industry.
Taking Undue Credit (Cards)
On or about March 10, 2012, Martin completed and submitted a credit card application for a Chase Bank customer ("Customer1″) without the customer's authorization, and provided the Jenks Branch Office as the customer's address of record. Also during that year, Martin opened a credit card in the name of another bank customer ("Customer2") using the Jenks office address, without that customer's knowledge or authorization.
Following the processing of the credit card applications and her receipt of the two cards, between March 10, 2012, and August 3, 2012, Martin made personal purchases totaling $6,033 on both customers' credit cards, without their knowledge or authorization. On July 30, 2012, Martin accessed Customer2's checking account and transferred $985.76 from that checking account to the credit card account in order to pay for charges that Martin had incurred for her personal expenses.
On or about August 3, 2012, Martin repaid the customers in full.
According to online FINRA documents as of April 2, 2013, "JPMCHASE Bank" discharged Martin on August 6, 2012, and provided the following explanation:
TERMINATED BY AFFILIATE BANK - NON SECURITIES RELATED REGISTERED REP ADMITTED TO OPENING CREDIT CARDS UNDER BANK CLIENTS NAMES FOR PERSONAL USE AND TRANSFERRED FUNDS FROM A BANK CLIENTS ACCOUNT TO ONE OF THE CREDIT CARD
The AWC alleges that Martin violated FINRA Rule 2010 by converting $7,018.76 from bank customers and in accordance with the terms of the AWC, FINRA imposed upon Martin a Bar from association in any and all capacities with any FINRA member firm.