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FINRA Sanctions Former Merrill Broker for Unapproved Referral Payouts

Posted on December 15th, 2025 at 11:51 AM
FINRA Sanctions Former Merrill Broker for Unapproved Referral Payouts

From the desk of Jim Eccleston at Ä¢¹½´«Ã½

The Financial Industry Regulatory Authority (FINRA) issued a six-month suspension and a $7,500 fine against former Merrill Lynch broker Jeremiah Householder after finding that he accepted referral commissions from an unapproved third-party lender. According to AdvisorHub, FINRA alleged that, between September 2023 and May 2024, Householder directed three customers to a lending business owned by his brother-in-law and received $60,000 in return.

FINRA determined that Householder violated Rule 3270, which prohibits brokers from engaging in outside business activities without firm approval, and Rule 2010, which requires them to conduct business with high standards of commercial honor. Householder, who is no longer registered as a broker or investment adviser, did not comment, according to AdvisorHub.

According to FINRA, Householder’s role at Merrill involved assisting customers with banking needs and connecting them with personnel at the firm’s banking affiliate. AdvisorHub’s review of BrokerCheck records shows that he joined Merrill in 2019 as a “business integration specialist,” part of the firm’s broader effort to strengthen cross-selling within its wealth management unit. He resigned while under internal review for failing to disclose outside business activities.

 

Ä¢¹½´«Ã½ LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, finra, merrill lynch

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