The Financial Industry Regulatory Authority has imposed a fine of $10,000 on a registered representative with First Western Securities in Manhattan Beach, Calif., for borrowing $150,000 from a 90-year-old client.

Kerry Wills also accepted a gift of approximately $19,500 in luxury travel from the same client.

Both actions violated Finra’s rules, as well as the rules of his firm, Finra said in a letter of acceptance, waiver and consent.

Finra explained that the woman became a client of Wills more than 30 years ago when he assisted her with her late husband’s probate proceedings. She developed a close relationship with Wills, who provided personal care to her such as handling health care, maintaining her properties and paying bills over the last several years of her life.

Finra said Wills borrowed the money in May 2012 to cover expenses incurred in legal bills. The loan was memorialized with a promissory note that provided for a 10-year term and a 2% interest rate. Wills never disclosed the loan to his firm or otherwise sought an exemption from the firm's procedures prohibiting the acceptance of a loan from a customer, Finra said.

He made one annual payment on the loan in January 2014, but the check was never cashed because the client died six months later, leaving a trust document that provided for loan forgiveness.

In 2013 and 2014, Finra said Wills accepted gifts of $19,500 in travel expenses, which paid for the airfare and tickets for three international cruises he took. He accompanied the client on the three trips, providing personal care and assistance with travel logistics. Wills did not disclose the trips to the firm or report the trips on the firm's gifts and gratuities log, Finra said.

Wills also was given a six-month suspension from association with any Finra member in any capacity.