FINRA sanctioned former MetLife Securities (Sandy, Utah) and current Cambridge Investment Research (Cottonwood Heights, UT) broker Quinn Daniel Campbell for removing the nonpublic personal information of 187 MetLife customers from the firm and retaining the investors' private details after leaving the firm.
According to AWC #2018058852901, stockbroker Quinn Campbell (CRD #4528976) caused MetLife to violate the SEC's S-P regulation, also known as the Privacy of Consumer Financial Information and Safeguarding Personal Information rule.
Regulation S-P prohibits firms, such as brokerages, from disclosing nonpublic personal information, such as information provided by a consumer to broker-dealer to obtain a financial product, information about a consumer resulting from a transaction, or other personally identifiable financial information about a consumer, without notifying the customer or giving the customer the opportunity to stop the disclosure.
In March 2016, Campbell purportedly took private information about 187 MetLife customers with him when he left the firm. Just five days prior to his registration's official termination from MetLife Securities, Campbell joined Cambridge Investment Research.
In his BrokerCheck file, Campbell admitted that protected personal information was stored on a memory stick he took from MetLife to transfer to Cambridge Investment Research, but claimed he forgot that the protected information was on the memory device.
Nonetheless, FINRA found that Campbell was not entitled to remove and retain the 187 customers' personal information.
Privacy laws and policies such as Regulation S-P exist to protect consumers. In 2017, FINRA fined and suspended Stephen Samuel Salm (Securities America of Solana Beach, California) for disclosing personal information about customers to a nonaffiliated third party without the customers' knowledge or consent in contravention of Regulation S-P.
In 2016, FINRA suspended Mauneel Desai of Edward Jones in Irvine, CA for creating new accounts using fake information for prospective customers who had not agreed to open accounts with that specific firm.
Ryan Alexander Logan (Northwestern Mutual Investment Services of Newport Beach, CA) also received a 2016 suspension for changing customers' personal data in Northwestern's database shortly before leaving the firm to join MML Investor Services.
If you have invested with ex-MetLife and Cambridge Investment Research broker Quinn Daniel Campbell or with any investment adviser who has improperly accessed, transferred, or retained your private information, and this unauthorized use of your nonpublic data has proven harmful to your investments or interests through unauthorized transactions, account creations, or other suspicious activities, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.