Ex-Merrill Rep Barred for Keeping $100 Found at ATM: FINRA

On Nov. 8, 2019, while on a lunch break at a branch of Merrill's affiliated bank, where Nagy was dually employed by Merrill and the bank, a customer "gave Nagy at least $100 in cash that a previous customer using the bank's drive-up ATM had left behind, and the customer asked Nagy to return the money to the rightful owner," according to the AWC letter.

Nagy "failed to return the cash to the bank or report the incident, despite being asked about it by the bank's manager later that same day," FINRA alleged. "Nagy ultimately decided instead to keep the money for himself."

When Nagy returned to the bank after lunch, the bank manager asked Nagy about the money left behind in the ATM, "but Nagy disclaimed any knowledge of the missing funds," according to FINRA.

"The following week, Nagy found the cash in his suit jacket pocket and decided to keep the cash indefinitely rather than report it at that time," according to the AWC letter.

As a result of his actions, Nagy violated FINRA Rule 2010 (governing standards of commercial honor and principles of trade), FINRA alleged.

Nagy had been a rep for Merrill since 2017, according to his report on FINRA's BrokerCheck website, which also says he is no longer a registered broker or advisor.