The Financial Industry Regulatory Authority fined a former Merrill Lynch rep $5,000 for engaging in a lucrative apartment rental business without timely or fully disclosing his activities to the firm, according to FINRA.
Without admitting or denying the findings, Yury Ivanou signed a letter of acceptance, waiver and consent Sept. 30 in which he agreed to the fine and to be suspended from associating with any FINRA member firm in any capacity for three months. FINRA accepted the letter Tuesday.
However, Ivanou is no longer associated with any FINRA member and is no longer registered as a broker or an RIA, according to his report on FINRA’s BrokerCheck website.
Merrill Lynch declined to comment Wednesday. Howard Rosenburg, a partner at the Chicago law firm Kopecky Schumacher Rosenburg, who represented Ivanou, didn’t immediately respond to a request for comment.
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Ivanou first became registered with FINRA through Merrill Lynch as a general securities representative in April 2015 and remained registered until Nov. 28, 2018, when the firm filed a Form U5 terminating his registration and disclosing that he was under internal review, according to FINRA.
FINRA opened an investigation into the matter after reviewing the Form U5, it said.