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Name
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Residence
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What
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Why
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Date
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Babington, Thomas Macaulay (Jr.)
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Palm Bay, Florida
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Barred
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He misrepresented the sales charge on a unit investment trust product to public customers and forged their signatures on the transaction cover sheet that would have disclosed the correct sales charge.
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January 2005
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Babich, Richard Wendell
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San Francisco, CA
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1-Year Bar
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Babich failed to follow customer instructions, failed to report a customer complaint, caused books and records violations, and failed to timely comply.
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December 2007
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Bacher, Louis Joseph (Jr.)
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Benicia, California
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Barred
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He consented to the entry of findings that he permitted a statutorily disqualified person to be associated with their member firm.
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January 2005
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Baclet, Jeffrey Lyle
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Santa Ana, California
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Barred
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Sanctions imposed following appeal of a National Adjudicatory Council (NAC) decision. Baclet issued research reports on companies whose stock traded below $5 per share that failed to disclose material information and contained misleading, exaggerated and false statements; Baclet failed to disclose that the firm had received compensation for the preparation and issuance of research reports on the issuers' behalf; Baclet failed to obtain signed approval of research reports prior to their dissemination; Baclet failed to establish, maintain andenforce adequate written supervisory procedures reasonably designed to achieve compliance with applicable securities laws and NASD rules concerning the preparation and issuance of research reports.
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June 2007
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Bacon, Hoyit Allen
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Bixby, Oklahoma
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1-Year Suspension
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He engaged in outside business activities without providing written notice to his member firm. The findings also stated that Bacon violated standards of commercial honor and just and equitable principles of trade by billing one client for the same advisory services under both an agreement with his member firm and through his outside business.
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August 2005
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Bade, Thomas Dean
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Glendale, Arizona
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Barred
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The sanction was based on findings that Bade willfully failed to disclose material information on his Uniform Registration for Securities Industry Registration or Transfer (Form U4).
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July 2006
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Bailey, Joseph Dalyn
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Mustang, OK
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Barred
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Bailey deposited monies from a premium trust account into his personal checking account without the policy holders' authorization, knowledge or consent. The findings stated that Bailey failed to respond to FINRA requests for documents and failed to respond promptly to requests for information.
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April 2008
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Bakamovic, Aida
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Scottsdale, Arizona
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Barred
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Bakamovic signed public customers' names in order to open bank accounts without the customers' knowledge or consent.
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December 2006
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Baker, Dean Russel
|
Coral Springs, Florida
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Complaint Filed
|
Named as a respondent in an NASD complaint alleging that he engaged in a pattern of cold calling public customers in an attempt to induce them to open accounts and purchase shares through an online auction of company stock. The complaint alleges that Baker knowingly or recklessly made baseless price predictions and omissions of material facts to his customers and did not inform them of certain conflicts of interest. The complaint also alleged that Baker effected transactions in customers' accounts without their prior authorization, knowledge or consent.
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July 2006
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Baker, Dean Russel
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Coral Springs, Florida
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Barred
|
Baker consented to the described sanction and to the entry of findings that he effected, or caused to be effected, securities transactions in public customers' accounts without their prior authorization, knowledge or consent. The findings stated that in order to induce customers to make authorized purchases, Baker made baseless price predictions, used time sensitivity when recommending stocks and failed to disclose material facts such as risks and conflicts of interest associated with the stock purchases.
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August 2006
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Bailey,
Jerry Don
|
Flower
Mound, Texas
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Barred
|
He made unsuitable variable annuity and/or
variable universal life insurance recommendations to public customers. The
findings stated that Bailey failed to obtain financial information from any
of the customers before making investment recommendations, and had several
customers sign a disclosure and alter blank documents. The findings also
stated that he made misrepresentations and omitted material facts in
connection with his unsuitable investment recommendations.
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November
2005
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Bailey, Quinton Allen
|
Jamaica, NY
|
1-Year Suspension from association with any FINRA member in any capacity, and Barred from association with any FINRA member in a supervisory/principal capacity.
|
Bailey knowingly falsified, and caused to be falsified, recordsreflecting the supervisory review of daily trade blotters by backdating the blotters so that they appeared to have been reviewed within the time his member firm required. He inaccurately certified that he completed supervisoryreviews when he had not yet completed the reviews. The findings also stated that Bailey asked notaries public, who were employees of his member firm or its affiliate, tonotarize signatures previously executed by customers who were not present in the office at the time of his requests and at least, on one occasion, his request was successful and a signature was improperly notarized.
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November 2007
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Bakamovic, Aida
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Scottsdale, Arizona
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Barred
|
Bakamovic signed public customers' names in order to open bank accounts without the customers' knowledge or consent.
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December 2006
|
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Baldwin, Michael Lawrence
|
Kansas City, Missouri
|
Complaint Filed
|
He was named as a respondent in an NASD complaint alleging that he recommended and effected excessive securities transactions in a public customer's account without having reasonable grounds for believing the transactions were suitable for the customer in light of the customer's financial situation and needs. The complaint alleges that Baldwin failed to approve option order tickets before they were submitted to his member firm's clearing firm for execution, and failed to ensure that the options transactions were appropriate for the customer accounts.
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September, 2006
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Baldwin, Shawn Derrick
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Chicago, Illinois
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Barred
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Baldwin failed to respond to NASD requests for information and documents. This decision has been appealed to the NAC, and the sanctions are not in effect pending consideration of the appeal.
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February, 2007
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Balentine, Larry Thomas
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Salinas, California
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Barred
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He willfully failed to disclose a material fact on his Form U4.
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February 2005
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Ballard, Roger Dean
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St. Joseph, Michigan
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Barred
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He received $2,137.95 from a public customer to be deposited in a money market account in an Individual Retirement Account (IRA), failed to follow the customer's instruction, cashed the check, and used the funds for some purpose other than the benefit of the customer. The findings stated that after the customer complained to Ballard's member firm, he opened an IRA in the name of the customer and deposited $2,137.95 in the account.
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February 2005
|
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Balog, Steven John
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Woodbine, Maryland
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Barred
|
Balong consented to the described sanction and to the entry of findings that he engaged in outside business activities, for compensation, without providing prompt written notice to his member firm.
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August 2006
|
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Bander, Jason Andrew
|
Unknown
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Temporary bar, to become permanentif Respondent does not comply within three months.
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Violated Exchange Rule 477 by failing to comply with one or more requests to appear and testify before the Exchange regarding certain matters that had occurred prior to termination of Respondent's status as registered employee of member organization.
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October 20, 2005
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Banks, Robert Lee
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Zuni, Virginia
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Barred
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Banks willfully failed to disclose material information on his Form U4.
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November 2006
|
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Bard,
Robert Glenn
|
Warfordsburg,
Pennsylvania
|
Barred
|
He signed public customers’ names on client
agreements/new account forms, discretionary power forms, variable annuity
purchase applications and related documents, and third-party management
agreements without the authority to sign the names. NASD found that Bard also
obtained signature guarantees for some of the signatures, notwithstanding
that some of the signatures were fake.
|
November
2005
|
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Bardia, Sandeep
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Maspeth, New York & Newark, Delaware
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Barred
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Pursuant to NASD Rule 9552(h)
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August, 2006
|
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Barefield, Henry Carl
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Chicago, Illinois
|
Barred
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Barefield received $10,000 from a public customer to be credited to a mutual fund in her IRA but co-endorsed the checks, deposited them into his own account and used the funds for some purpose other than to benefit the customer without her knowledge or consent. The findings stated that Barefield forged a customer's signature on forms requesting distribution of $40,690 from the customer's accounts, deposited the funds into his own account and used the funds for some purpose other than to benefit the customer without her knowledge or consent. The findings also stated that Barefield received a $4,000 check from the customer to re-deposit in her annuity, but deposited the check into his own account and used the funds for some purpose other than to benefit the customer without her knowledge or consent. The findings also included that Barefield received $13,000 from a public customer to purchase mutual fund shares but used the funds for some purpose other than to benefit the customer. NASD found that Barefield failed to respond to NASD requests for information and documents.
|
March, 2007
|
|
Barlup, Justin Matthew
|
Anchorage, AK
|
Barred
|
Barlup caused a bank to issue cashier's checks totaling $500,000 payable to his relative and signed the checks, knowing that the bank had received no offsetting payments for the checks, thereby converting $500,000 of the bank's funds to his own use and benefit. The findings stated that Barlup failed to respond to FINRA requests for information.
|
April 2008
|
|
Barmapov, Samuel
|
Hallandale, FL
|
Barred
|
An Argus Securities broker, who settled charges they used fraudulent sales practices in recommending shares to investors;
|
February 2005
|
|
Barnhart, Cindy Sue
|
Pennellville, New York
|
Barred
|
Bernhart consented to the described sanction and to the entry of findings that she issued loans to herself, totaling $3,700, on whole life insurance policies a public customer held, without the customer's knowledge, authorization or consent. The findings stated that Barnhart forged the customer's signature on each of the loan checks and converted the funds for her own use and benefit.
|
June 2006
|
|
Baron, Keith Craig
|
Merrick, New York
|
Complaint Filed
|
Baron along with Paul Michael Giarmoleo and Emanuel Pantelakis were named as respondents in an NASD complaint alleging that Pantelakis, acting on his member firm's behalf, authorized the firm and Giarmoleo to recommend stocks to public customers without having a reasonable basis for doing so, and without having reviewed current financial statements and material business information for providing a reasonable basis for recommending the stocks. Giarmoleo, in recommending a stock, without a reasonable basis for doing so, made price predictions to customers, and Pantelakis and Giarmoleo omitted material information in the selling. The complaint alleges that the firm, Pantelakis, Giarmoleo and Baron, in connection with the purchase or sale of securities, and by the use of means or instrumentalities of interstate commerce or by the mails, directly or indirectly, knowingly or recklessly employed devices, schemes or artifices to defraud; made untrue statements of material facts or omissions to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or engaged in acts, practices or courses of business that operated, or would operate, as a fraud or deceit upon any person. The complaint also alleges that Pantelakis, acting on the firm's behalf, recommended that Baron solicit customers to buy a stock in a private placement without having a reasonable basis for recommending the stock or for believing it was suitable for public customers. In recommending the private placement, Baron made price predictions. The complaint also alleges that the firm and Baron caused one customer's account to buy a stock without the customer's authorization. The complaint further alleges that Pantelakis and Baron recommended that customers buy the stock in the secondary market without a reasonable basis for the recommendations or for believing the stock was suitable, and omitted material information in their recommendations. In recommending the buy in the secondary market, Baron made price predictions to customers. In addition, the complaint alleges that Pantelakis, on the firm's behalf, falsified a new account form, causing his firm to make and keep a false record. Furthermore, the complaint alleges that the firm and Pantelakis failed to establish, maintain and enforce a system to supervise the activities of each representative and associated person that was reasonably designed to achieve compliance with applicable securities laws, regulations and NASD rules; failed to establish, maintain and enforce written procedures to supervise the types of businesses in which the firm engaged; and failed to supervise the sales practices of Pantelakis, Giarmoleo, Baron and others. The complaint alleges that Pantelakis testified falsely in an NASD on-the-record interview.
|
February, 2007
|
|
Barrett, Daniel Forrest
|
Irving, Texas
|
Barred
|
Barrett failed to respond to NASD requests to appear for an on-the-record testimony. Barrett recommended and effected unsuitable transactions in a public customer's account. Barrett should have known the recommendation was unsuitable in light of the customer's age, financial status, investment objective and risk tolerance.
|
September, 2006
|
|
Barrow, Clyde Bertold
|
Buffalo, New York
|
2-Year Bar
|
Violated NYSE Rule 476(a)(6) by failing to disclose, on an employment application submitted to his member firm, his prior criminal history, including a felony conviction that rendered him subject to a statutory disqualification.
|
August 2006
|
|
Bartholemy, Alan Edmund Jr.
|
Folsom, California
|
|
Bartholemy consented to the described sanction and to the entry of findings that he willfully failed to amend his Uniform Application for Securities Industry Registration or Transfer (Form U4) to disclose material information.
|
August 2006
|
|
Bartlett, Scott Anthony
|
Schertz, Texas
|
Barred
|
He willfully failed to disclose a material fact on his Form U4 and failed to respond to NASD requests for information.
|
June 2005
|
|
Basieva, Inna
|
Brooklyn, New York
|
Barred
|
She arranged for an imposter to take the Series 6 and Series 65 qualification exams on her behalf.
|
January 2005
|
|
Battista, Sammy
|
Hamilton, New Jersey
|
Barred
|
Battista consented to the described sanction and to the entry of findings that in connection with a public customer's life insurance application, he requested that a co-worker impersonate the customer during a personal history interview his member firm conducted. The findings stated that Battista failed to respond to NASD requests for information.
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April 2006
|
|
Baumgarn, Constance Mulherin
|
Katy, Texas
|
Barred
|
She consented to the described sanction and to the entry of findings that she forged public customers' signatures on an investment application and a charge card authorization form.
|
February 2006
|
|
Becker, Randall Todd
|
Sammamish, Washington
|
Barred
|
He participated in private securities transactions without prior written notice to, and approval from, his member firm. The findings stated that Becker paid $233,428 of the firm's funds to himself as compensation without the firm's authorization, other than for the $60,000 to which he was entitled pursuant to his employment agreement, thereby converting these funds for his own use and benefit.
|
February 2006
|
|
Becker, Walter J.
|
Fresno, CA
|
Barred
|
Becker recommended the purchase of securities to public customers without reasonable grounds for believing the recommendations were suitable based upon the customers' financial situation and needs. The findings stated that Becker omitted to disclose material information to the customers prior to their purchase of the securities. The findings also stated that Becker applied some or all of the proceeds from the securities to his personal use.
|
April 2008
|
|
Beerbaum, Hans Norman
|
Petaluma, California
|
Barred
|
The Securities and Exchange Commission (SEC) imposed the sanctions following the appeal of a National Adjudicatory Council (NAC) decision. The sanctions were based on findings that Beerbaum, while suspended as a principal of the firm Beerbaum & Beerbaum Financial and Insurance Services, Inc., actively engaged in the management of the firm's securities business, and performed executive and supervisory responsibilities despite his suspension as a principal.
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September 2007
|
|
Behany, Timothy
|
Bernardsville, New Jersey
|
2-Year Suspension
|
Behany improperly obtained contingent deferred salescharge (CDSC) waivers for public customers inconnection with mutual fund redemptions by falselyrepresenting on his member firm's electronic order entrysystem that the customers were disabled. The findingsstated that as a result, several mutual fund companieswere deprived of fees to which they were otherwiseentitled. The findings also stated that Bethany's actionscaused his member firm's books and records relating toredemptions to contain false and misleading informationregarding the customers.
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July 2007
|
|
Belizaire, Francios Wolffe
|
Irvington, New Jersey
|
Barred
|
Falsified a direct deposit authorization for public customers by printing the customers' names on the direct deposit authorization forms without the customers' knowledge, authorization, or consent.
|
July 2005
|
|
Belizaire,
Hurson (Jr.)
|
Freeport,
New York
|
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