![]() In addition, most of the company records were stored at her home and her son later testified against her saying that she had always been manager of Cape Cod Caretakers. Investigators subpoenaed documents from the outside company’s bank accounts, which showed that Veara was the sole signatory on its checking account and that she had written more than 700 checks to pay for operational expenses. However, examiners discovered that wasn’t true, the complaint said. ![]() She further claimed that she did not think she had to disclose such an outside business to MSSB because of her limited, purely formal involvement.” She also claimed that her son really ran the day-to-day operations of Cape Cod Caretakers. “In speaking to examiners, Veara claimed that her name on corporate documents was a formality as a result of her son’s recent bankruptcy and that she herself had no involvement in the management of the company. Registered reps are required under both FINRA rules and firm policies to disclose any outside business activities that might be potential conflicts of interest to their employers. That’s when they discovered that Veara was allegedly running on outside business as the principal and sole executive officer of Cape Cod Caretakers Corp., and didn’t disclose her activities to the firm. The violations were discovered when state examiners conducted a books and records exam of the Hyannis branch of MSSB.
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