The Cody Keller investigation reveals serious breaches in financial services conduct that affect many investors. We’ve tracked this case closely since it began on February 13, 2025, when FINRA launched its formal inquiry.
Keller, who started his FINRA registration in March 2017, now faces multiple charges that paint a troubling picture. His career took a sharp downturn when Northwestern Mutual accepted his resignation in August 2023, followed by MML Investors Services firing him in October 2024 for hiding a Pennsylvania regulatory action.
The state’s Insurance Department fined him $1,000 in May 2024 for misrepresenting payment allocations and personally paying back a customer’s Roth IRA withdrawal. These actions broke several rules under 40 P.S. standards, as noted in case CO24-05-010. FINRA has now barred Keller from the industry after he failed to provide the requested documents during their review. His pattern of hiding outside business activities and giving misleading answers has left many clients at risk.
Investors who worked with Keller at Northwestern Mutual may need help. Haselkorn & Thibaut offers a free consultation to all investors by calling 1-888-885-7162 .
Key Takeaways
Table of Contents
- Cody Keller was barred from the financial industry after refusing to provide documents to FINRA during their 2025 investigation.
- The Insurance Department of Pennsylvania issued a Consent Order (CO24-05-010) against Keller on May 29, 2024, citing multiple violations of state statutes.
- Keller allegedly hid outside business activities from his employers, Northwestern Mutual and MML Investors Services, putting client funds at risk.
- His employment at MML Investors Services ended on September 20, 2024, marking his second career termination in the financial industry.
- Investors who worked with Keller should review their accounts for potential losses and may have options for recovery through FINRA claims.
Allegations Against Cody Keller
Cody Keller faced serious charges of hiding outside business deals from his firm. These alleged actions broke industry rules and put his clients’ money at risk.
Regulatory violations and misconduct
Cody Keller faces serious allegations of broker misconduct related to multiple regulatory violations. The Insurance Department of Pennsylvania issued a Consent Order (case number CO24-05-010) on May 29, 2024, citing specific violations under Pennsylvania statutes 40 P.S.
310.11(5), (20), 1171.5(a)(1)(i), and 1171.5(a)(2). These rules govern proper conduct for financial advisors and investment representatives in the securities industry. Keller chose to waive his rights to a formal administrative hearing about these charges, which suggests an acceptance of the findings against him.
Deputy Insurance Commissioner David J. Buono, Jr. executed this Consent Order after the investigation into Keller’s actions at MML Investors Services, LLC and Northwestern Mutual. The violations likely involved improper outside business activities that harmed investors and led to potential investment losses.
Financial advisors must follow strict rules to protect their clients’ interests and maintain trust in the investment process. The FINRA investigation revealed even more troubling details about Keller’s failure to comply with industry standards.
FINRA Investigation Findings
FINRA’s investigation revealed Keller failed to respond to multiple requests for information, which led to automatic suspension under Rule 9552. Read on to learn how this case shows the serious impact of non-cooperation with regulatory bodies.
Failure to provide requested information and documents
FINRA rules require brokers to cooperate fully with investigations. Cody Keller broke these rules by refusing to hand over documents that FINRA requested on February 13, 2025. He first acknowledged this request via email on February 20, 2025, but later refused to comply during a phone call on February 27, 2025.
This refusal directly violated FINRA Rules 8210 and 2010, which mandate cooperation with regulatory inquiries. We’ve seen many cases where investment advisers try to hide misconduct by withholding information from regulators like FINRA.
Keller’s actions at Northwestern Mutual and MML Investors Services, LLC raised serious concerns about broker misconduct that could potentially harm investors. His refusal to provide documentation left FINRA with no choice but to take strong action against him as a general securities representative.
The legal and professional consequences of such violations can be severe for financial professionals in the securities industry.
Legal and Professional Consequences
Cody Keller faced serious career damage after these violations came to light. His actions led to permanent removal from the securities industry, showing how regulatory bodies protect investors from misconduct.
Termination and barring from financial services
The financial industry took strong action against Cody Keller through two major penalties. FINRA barred Keller from associating with any member firm after he refused to provide requested documents during their investigation.
This permanent exclusion from the securities industry represents the harshest penalty FINRA can impose on a broker. His employment at MML Investors Services ended on September 20, 2024, marking his second career termination.
We’ve seen these types of broker misconduct cases before, where violations of FINRA Rules 8210 and 2010 lead to severe professional consequences. Investors who worked with Keller through Northwestern Mutual or other broker-dealers should review their accounts for potential investment losses.
Conclusion
The Cody Keller case shows how financial misconduct can harm trusting investors. His actions – paying clients from personal accounts, hiding business activities, and misleading investigators – broke core industry rules.
FINRA’s decision to bar Keller protects future investors from similar harm. We urge anyone who worked with Keller at Northwestern Mutual or MML Investors Services to review their accounts for signs of trouble.
Investment fraud damages more than money; it destroys trust in the whole financial system. Our team stands ready to help affected investors understand their options for recovery through FINRA claims.
You deserve honest guidance from financial professionals who put your interests first.
