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Name
|
Residence
|
What
|
Why
|
Date
|
|
D'Altilia, Joseph Anthony
|
Colorado Springs, Colorado
|
Barred
|
D'Altilia consented to the described sanction and to the entry of findings that he failed to respond to NASD requests for documents and information.
|
August 2006
|
|
D'Amico, Michael Henry
|
Westlake Village, California
|
Barred
|
D'Amico received $13,937.82 from a public customer for investment purposes, deposited the check in an account he controlled without the knowledge or consent of the customer, returned $11,696.35 to the customer, and converted $2,241.47 to his own use and benefit without the customer's knowledge, authorization, or consent.
|
July 2005
|
|
DaCruz,
Charles Albert
|
Williston
Park, New York
|
Barred
|
The NAC imposed the sanctions following appeal of an OHO decision. The sanctions were based on findings that DaCruz failed to disclose material information and made baseless price predictions when recommending a security to public customers.
|
April 2007
|
|
Dalvi, Chintaman
|
Mendham, New Jersey
|
Barred
|
Dalvi failed to establish, maintain and enforce written procedures designed to achieve compliance with anti-fraud and recordkeeping provisions of securities laws, regulations and NASD rules.
|
December
2005
|
|
Daly, Timothy James
|
Weston, Connecticut
|
Barred
|
Daly failed to establish and maintain a supervisory system and written procedures reasonably designed to supervise his firm's registered representatives' and associated persons' activities to achieve compliance with applicable securities laws, regulations and NASD rules. The findings stated that Daly, acting on his member firm's behalf, failed to conduct internal inspections of its offices of supervisory jurisdiction in accordance with the requirements of NASD Rule 3010(c). The findings also stated that Daly, acting on his member firm's behalf, failed to establish procedures for the review of transactions and its registered representatives' correspondence with the public. The findings also included that the firm, acting through Daly, operated its business without a limited principal/financial and operations principal (FINOP).
|
November 2006o:p>
|
|
Dail, Roger Martin
|
Brooklyn, New York
|
Barred
|
He willfully failed to disclose a material fact on his Form U4.
|
January 2005
|
|
Dailey, Shaune Denise
|
Las Vegas, Nevada
|
Barred
|
She willfully failed to disclose material facts on her Form U4.
|
July 2005
|
|
Daluz,
Blesilda A.
|
Fairfax,
Virginia
|
Barred
|
Failed to respond to NASD requests for
information
|
September
2005
|
|
Daniels,
Douglas William
|
Lynn,
Massachusetts
|
Barred
|
He invested $5,000 in a variable annuity
that required a minimum investment of $10,000 for a public customer with the
notation that it was an initial deposit and additional funds would follow.
The findings stated that the insurance company failed to receive the
additional $5,000, issued a check canceling the customer’s application and
returned the initial deposit. The findings also stated that Daniels, without
the knowledge or consent of the customer, negotiated the $5,000 check and
misappropriated the proceeds to his own use and benefit.
|
October
2005
|
|
Daniels, Lace Anne
|
Indian Trail, NC
|
Barred
|
Daniels induced her branch office's comptroller to issue her a
$22,000 check, falsely representing that the branch manager had approved that amount as a bonus by providing an unsigned compensation agreement and falsely stating that the manager had forgotten to sign the form, thereby converting the funds to her own use without her member firm's knowledge or consent.
|
November 2008
|
|
Daniels, Richard Alan
|
Chagrin Falls, OH
|
Barred
|
Daniels sold unregistered securities in the form of promissory notes to public customers, and the securities did not have the represented purpose of generating extraordinarilyprofitable returns for investors, but rather had the purpose of promoting an illegal "Ponzi" scheme and supporting Daniels' personal debt and expenses. The findings stated that Daniels failed to respond to FINRA requests for information.
|
February 2008
|
|
Dartez, Gregory Orlan
|
Allen, TX
|
Barred
|
Dartez, along with Gerry Glenn Griggs, wrote and disseminated press releases touting the securities of an oil and gas company that were not fair and balanced, and failed to provide a sound basis for evaluating the facts regarding the securities. The findings stated that the press releases omitted material facts, including the company's recent revenues, causing the press releases to be misleading.
|
April 2008
|
|
Daugherty, Bobby John
|
Swannanoa, NC
|
Barred
|
Pursuant to Rule 9552(h)
|
March 2009
|
|
Davidson, Arthur Marc
|
Cherry Hill, New Jersey
|
Barred
|
He signed a public customer's name on Financial Advisory Service agreements and Mutual Fund Redemption forms without the customer's permission or knowledge.
|
March 2005
|
|
Davidson, John Eugene
|
Cleveland, OH
|
Barred
|
Davidson willfully failed to update his FormU4 with material
information. (FINRA Case #2007011375001)
|
September 2009
|
|
Davilla, Miguel Angel
|
Oviedo, Florida
|
Barred
|
In order to earn production credits so that he could attend an upcoming sales meeting, he prepared Insurance Cover Memos and Allotment Authorization forms for public customers, falsely represented to his member firm that the customers wanted to buy insurance and forwarded the documents to his firm for processing without the customer's authorization.
|
September, 2006
|
|
Davis, Brian Emil
|
Chicago, Illinois
|
Barred
|
Davis consented to the described sanction and to the entry of findings that he received $2,892.79 from a public customer to pay for an extension of a universal life insurance contract, but instead deposited the funds into his personal bank account and converted them to his personal use.
|
August 2006
|
|
Davis, Carleton Wayne
|
St. Louis, Missouri
|
Censure and a permanent bar
|
From July 2003 through October 2005, Davis submitted false invoices totaling approximately $36,000 to his member firm and improperly received reimbursement checks based on these invoices, most of which he used personally. Davis, a former director in the firm's Client Development Center, submitted numerous improper payment requests purportedly for services rendered by vendors when no services actually were provided. In total, Davis misappropriated approximately $21,000 from his member firm.
|
March, 2007
|
|
Davis, Courtney Wayne
|
Huntsville, Texas
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
July 2007
|
|
Davis, Kevin Edward
|
Baltimore, Maryland
|
Revoked
|
Failing to Pay Fines and/or Costs in Accordance with NASD Rules 8320.
|
February, 2007
|
|
Davis,
Kevin John
|
Sartell,
Minnesota
|
Barred
|
He failed to respond to NASD requests for
information.
|
October
2005
|
|
Davis, Robert Thomas (III)
|
Sumter, South Carolina
|
Barred
|
Davis consented to the described sanctions and to the entry of findings that he withdrew $104,000 from a public customer's annuity contract without her knowledge or approval, and converted the funds for his own personal benefit. The findings stated that Davis entered into a settlement agreement with the customer in which he promised to repay the $104,000, did not notify his member firm that he entered into such agreement and did not repay the customer as promised.
|
November 2006
|
|
Davis,
Steven James
|
Williamsville,
New York
|
Barred
|
He failed to execute a public customer’s
instructions, and failed to respond to NASD requests for information.
|
September
2005
|
|
DeAngelis, Kayel Guy
|
Bayside, New York
|
Barred
|
DeAngelis failed to respond to NASD requests for information. The findings further stated that DeAngelis engaged in private securities transactions and maintained an outside securities account without prior written notice to his member firm.
|
July 2007
|
|
Deane, Derek Jamal
|
Hyattsville, Maryland
|
Barred
|
Deane consented to the described sanction and to the entry of findings that he created falsified customer retirement accounts and submitted them to his member firm, and that his conduct resulted in the improper receipt of $1,600 in commissions.
|
December 2006
|
|
Deane, Duane McKay
|
Woodbridge, NJ
|
Barred
|
Deane improperly obtained and misused $8,800 by using his
corporate credit card for cash advances to pay for personal items and failed to make payments to the credit card company or reimburse his member firm. The findings stated that Deane failed to respond to FINRA requests for information.
|
June 2008
|
|
Debaca, Melissa Anne Cabeza
|
Kingman, AZ
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
November 2009
|
|
DeBlasio, David Anthony
|
Newark, Delaware
|
Barred
|
He converted at least $80,000 from bank customers through a variety of methods, including using "debt slips" to effect the withdrawal of funds from customers' bank accounts to make payments to other bank customers or to enrich himself.
|
February 2005
|
|
Debry,
Lara
|
Salt
Lake City, Utah
|
Barred
|
She converted funds from a public customer
to her own use without the customer’s knowledge or consent.
|
September
2005
|
|
DeCamp, Matthew D.
|
Vicksburg, MI
|
Barred
|
DeCamp failed to respond fully to FINRA requests for information.
|
February 2009
|
|
Decker, Christopher John
|
Kettering, OH
|
Barred
|
Decker failed to respond to FINRA requests for information and documents.
|
July 2009
|
|
DeFelice, Jason John
|
Mount Pleasant, SC
|
Complaint Filed
|
DeFelice was named as a respondent in a FINRA complaint alleging that he engaged in a private placement offering of interest in a hedge fund through means of an offering
memorandum that was materially false and misleading. The complaint alleges that DeFelice engaged in highly aggressive short-term trading in the hedge fund account that was unsuitable, excessive and inconsistent with the disclosures in the fund offering memorandum. The complaint also alleges that DeFelice, in connection with the purchase or sale of securities, directly or indirectly, by the use of the means or
instrumentalities of interstate commerce, or of the mails, or of any facility of any national securities exchange, knowingly or recklessly employed devices, scheme or artifices to defraud; made untrue statements of material facts or omitted to state
material facts necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; engaged in acts, practices or courses of business which operated, or would operate, as a fraud or deceit upon any person; or effected transactions in, or induced the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance. The complaint further alleges that DeFelice churned the fund account by effecting a highly aggressive short-term trading strategy and acting with intent to defraud or with reckless disregard for the customer's best interests, for the purpose of generating commissions.
|
August 2008
|
|
DeGregorio, Anthony Otto (Sr.)
|
Tinton Falls, New Jersey
|
Barred
|
He recommended the purchase of private placements of speculative securities to a public customer without having a reasonable basis for believing that the recommendations were suitable based on customer's investment objectives, financial situation and needs. NASD found that DeGregorio participated in private securities transactions without providing prior written notice to, or receiving written approval from, his member firm.
|
February 2006
|
|
Del Toro, Sergio M.
|
New York, NY
|
Barred
|
Del Toro submitted a Letter of Acceptance,Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Del Toro consented to the described sanction and to the entry of findings that he recommended and effected securities purchases to a customer that were unsuitable in light of the customer's age and financial condition, and received $76,650 in commissions from the investment. The findings stated that Del Toro engaged in private securities transactions and failed to provide written notice to his member firms describing in detail the proposed transactions, his role therein and stating whether he had received, or would receive, selling compensation in connection with the transactions. The findings also stated that Del Toro guaranteed the customer in
writing against loss. (FINRA Case #2007007777501)
|
October 2009
|
|
Delano, III, Michael Gerald
|
Jersey City, NJ
|
Barred
|
Delano submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Delano consented to the described sanction and to the entry of findings that he was given the power of attorney over a deceased friend's estate by the deceased's brother and was requested to handle the $50,000 in life insurance proceeds. The findings stated that Delano deposited the funds into his personal bank account and used the majority of the funds for his personal expenses without the brother's consent. The findings also stated that Delano represented to the brother that he had invested the life insurance proceeds into an annuity on the brother's behalf. (FINRA Case #2008013543001)
|
January 2010
|
|
Delgado, John (a.k.a Yonatan Delgado)
|
Staten Island, New York
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
May 2006
|
|
DelVecchio, Thomas
|
Providence, RI
|
Barred
|
DelVecchio received $7,000 from a public customer for investment purposes and failed to invest the funds as directed, thereby converting the funds to his own use and benefit.
|
January 2008
|
|
Delzer, Richard Joseph
|
Elyria, OH
|
Barred
|
Delzer withdrew $9,000 from public customers' accounts without their knowledge or consent, and used the funds for his own benefit or for some benefit other than the customers.
|
April 2008
|
|
DeMarco, Thomas Anthony
|
Springfield, IL
|
Barred
|
DeMarco directed that $5,000 were withdrawn from a public customer's savings account to purchase additional shares in mutual funds, but the funds were not used as directed. The findings stated that DeMarco discovered the funds in his desk drawer six weeks later, at which time he forwarded the funds to his member firm. The findings also stated that DeMarco failed to timely respond to FINRA requests for information.
|
October 2007
|
|
Demarest, IV, David
|
Wellington, FL
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
February 2008
|
|
Demolfetto,
Frank
|
Staten
Island, New York
|
Barred
|
He failed to comply with an NASD request to
appear for an on-the-record interview.
|
September
2005
|
|
Demrow, Amil Duane
|
Fort Collins, CO
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
September 2008
|
|
Deneal, Jr., Dwight D'Angelo
|
Charlotte, NC
|
Barred
|
Deneal submitted an altered Series 7 examination score report to his member firm and made a false representation that he had passed the examination when in fact he had failed.
|
September 2008
|
|
Dennis, David Leo
|
Austin, Texas
|
Barred
|
He participated in private securities transactions without providing prior written notice to his member firm. The findings also stated that Dennis failed to respond to NASD requests for information.
|
June 2005
|
|
Dent, Jr., Noel Andrew
|
Bronxville, NY
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
September 2007
|
|
DePalma, Carmine
|
Mt. Kisco, New York
|
Barred
|
DePalma made an unsuitable recommendation to a public customer in light of the customer's financial status, investment objective and risk tolerance. The findings stated that DePalma engaged in private securities transactions without providing prior written notice to, and obtaining written authorization from, his member firm. The findings also stated that DePalma participated in outside business activities from which he received compensation and failed to provide prompt written notice to his member firm. The findings also included that DePalma falsified records in that he provided confirmations of the customer's investments that bore the corporate insignia of an entity that had no connection to the customer's transactions.
|
November 2006
|
|
Derouin, Ronald James
|
Philadelphia, PA
|
Barred
|
Derouin willfully failed to disclose material information on his FormU4. The findings stated that Derouin failed to appear for a FINRA on-the-record interview.
|
December 2007
|
|
Derrick, Tammy A.
|
Keizer, Oregon
|
Censure and a permanent bar
|
Derrick failed to disclose her prior criminal history on an employment application submitted to her member firm employer and failed to comply with one or more written requests by NYSE Regulation for information concerning a matter that occurred prior to the termination of her employment with a member firm employer.
|
March, 2007
|
|
DeSaint, Philippe Alfred
|
New York, New York
|
Barred
|
DeSaint falsified documents regarding the price of convertible bonds in an effort to hide the excess market risk created by his losses accumulated from selling 10-year Treasury Note futures. The findings stated that by falsifying documents, DeSaint caused his member firm to fail to preserve accurate books and records in compliance with SEC Rule 17a-4. The findings also stated that DeSaint failed to respond to NASD requests for information.
|
April 2007
|
|
Desiderio, Stephen Roy
|
Staten Island, NY
|
Barred
|
Desiderio knowingly provided false and misleading informationto FINRA during on-the-record interviews.
|
December 2007
|
|
Desoto, Joe
|
Kissimmee, Florida
|
Barred
|
Desoto willfully failed to disclose material facts on his Form U4 and failed to respond to NASD requests for information.
|
June 2007
|
|
Deverson, Lesly Charles
|
Elmont, NY
|
Barred
|
Deverson forged public customers' signatures on redemption checks and misappropriated the customers' funds totaling $713.70.
|
April 2008
|
|
DeVito, Anthoney E.
|
Wellington, OH
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
October 2008
|
|
Diaz, Daniel
|
Phoenix, Arizona
|
Barred
|
Diaz submitted fictitious account applications to his member firm and received $1,700 in commissions based on those fraudulent applications and failed to respond to NASD requests for information.
|
December 2006
|
|
Diaz, Lorin Terese
|
Franklin Square, New York
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
May 2006
|
|
DiBenedetto,
Frank
|
Staten
Island, New York
|
Barred
|
He knowingly prepared and submitted a
falsified life insurance application to his member firm, knowing that the
signature of the purported insured was forged.
|
November
2005
|
|
Dickerson, Verne T.
|
Vienna, VA
|
Barred
|
Dickerson willfully failed to disclose material information on his firm's background disclosure form and on his FormU4. The findings stated that Dickerson failed to respond to FINRA requests for information.
|
April 2009
|
|
Dickey,
Timothy Bryan
|
Durant,
Oklahoma
|
Barred
|
He recommended and effected an investment
strategy to public customers without having a reasonable basis for believing
that the strategy was suitable for them given their financial needs and
conditions. The findings stated that Dickey participated in private
securities transactions without providing prior written notice and obtaining
approval from his member firm.
|
December
2005
|
|
Diehl, Ronald E.
|
Germantown, Tennessee
|
Barred
|
Pursuant to NASD Rule 9552 for failure to provide information requested under NASD Rule 8210.
|
December 2004
|
|
Dinwoodie, James Christopher
|
Austin, TX
|
Barred
|
While associated with a member firm in Texas, Dinwoodie sold Financial Advisory Service Agreements to customers located in Arkansas prior to his registration status in Arkansas being updated in his member firm's system. The findings stated that Dinwoodie altered the Agreements to falsely reflect that the customers signed the agreements while located in Texas. The findings also stated that Dinwoodie falsified
other customers' signatures on a Financial Advisory Service Agreement. The findings also included that Dinwoodie failed to respond to FINRA requests for an on-the-record sworn statement. (FINRA Case #2008014001701)
|
August 2009
|
|
Disidoro, Paul Joseph
|
Allston, Massachusetts
|
Barred
|
He received checks totaling $50,000 from a public customer to be invested and, without the customer's knowledge or consent, he deposited the checks in his personal bank account and converted the proceeds for his own use and benefit.
|
February 2006
|
|
Doerr, Jeffrey
|
Utah
|
Complaint Filed
|
NASD charged Doerr with facilitating a hedge fund manager's deceptive practices to market time through variable annuities offered by three different life insurance companies. Doerr was registered with Prudential Securities, Inc. (PSI)-now known as Prudential Equity Group-but has since left the firm.
|
April 2007
|
|
Dold,
Edward Thomas
|
Lubbock,
Texas
|
Barred
|
He operated a fraudulent Ponzi scheme by
which he raised $2,204,500 from public customers.
|
September
2005
|
|
Dolores, Elizabeth Emi
|
Los Angeles, California
|
Barred
|
She misappropriated $443 that firm customers contributed to a charity fundraiser.
|
February 2005
|
|
Dominguez, Ramon Luis
|
Isla Verde, Puerto Rico
|
Complaint Filed
|
The complaint alleges that Dominguez charged markups that were excessive and fraudulent and failed to disclose the amount of the markups to the customers, which resulted in unjust profits of over $1.2 million.million.
|
January 2008
|
|
Domson, Michael Francis
|
Tampa, FL
|
Barred
|
Domson created financial planning agreements for customers, forged the customers' signatures on the agreements and submitted them to his member firm, without the customers' knowledge and consent. The findings stated that Domson paid the initial fees for the plans from his own funds and created the plans to generate sufficient sales
of financial plans to enable him to reach a higher level employment status with his firm.
|
June 2009
|
|
Donnauro, Frank Charles
|
Freehold, New Jersey
|
Barred
|
Pursuant to NASD Rule 9552 for failure to provide information requested under NASD Rule 8210
|
August 2005
|
|
Donnerstag, Harold Philip
|
Matawan, New Jersey
|
Barred
|
He entered into a settlement agreement with a public customer without his member firm's knowledge or approval.
|
June 2005
|
|
Donohue, Patrick W.
|
Moreno Valley, California
|
Barred
|
Donohue forged a public customer's signature to effect wire transfers and transferred $6,000 from the customer's account at his member firm to his personal bank account, thereby converting the funds to his own use and benefit.
|
March 2005
|
|
Dorenbush, Scott C.
|
Albertville, MN
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
October 2007
|
|
Dorsainvil, Jean B.
|
Bronx, New York
|
Barred
|
Dorsainvil caused checks totaling $17,400 to be issued from public customers' annuity accounts without the customers' knowledge or consent by forging their signatures on annuity withdrawal forms, depositing the funds into his own bank accounts and subsequently withdrawing the funds for his own use. The findings stated that Dorsainvil failed to respond to NASD requests for information.
|
November 2006
|
|
Douglass, Jr., Charles Roland
|
Union, SC
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
April 2009
|
|
Douglas, Sherman Edd
|
Mobile, AL
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
December 2007
|
|
Dousmanis, Christos G.
|
Zion, Illinois
|
Barred
|
Violated NYSE Rule 352(c) by agreeing to reimburse customers for losses in their accounts at his member organization employer; violated NYSE Rule 477 by failing to comply with written request by Division of Enforcement that he appear and provide testimony.
|
August 2006
|
|
Dove, Faith Yvette
|
Bronx, New York
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
March, 2007
|
|
Dowling, Sheila Dawnell
|
Keller, TX
|
Barred
|
Dowling exercised discretion in a customer's account, and effected transactions and electronic fund transfers primarily involving the purchase of small equity positions and the writing of covered calls against these positions. The findings stated that although Dowling had a power of attorney from the customer, her member firm had not accepted the customer's account as discretionary and the firm had denied her trading authority over the customer's account. The findings also stated that Dowling failed to appear for an on-the-record sworn statement that FINRA requested. (FINRA Case #2008012128701)
|
September 2009
|
|
Downs, Thomas Joseph
|
Pleasantville, NY
|
Barred
|
Downs effected an unauthorized transaction in a customer's account without discretionary authorization over the account, and failed to respond to FINRA requests for information.
|
March 2009
|
|
Doyle, Stephen John
|
Brewster, NY
|
Barred
|
Doyle was barred from association with any FINRA member in any capacity. The sanction was based on findings that Doyle failed to respond to FINRA requests for information and
willfully failed to disclose material information on his Form U4. (FINRA Case #2008012812301)
|
November 2009
|
|
Drajer, Kevin Robert
|
South Bend, Indiana
|
Barred
|
He received funds from public customers for investment purposes, but did not apply the funds as directed without the customers' knowledge or consent. The findings stated that he used the funds for his personal benefit or the benefit of someone other than the customers.
|
February 2006
|
|
Draper, Rendell Eshey
|
St. Charles, MO
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
August 2008
|
|
Dua, Jatinder
|
Cockeysville, Maryland
|
Barred
|
He forged a supervisor's signature on a letter containing an apology for providing false information, and sent it to a public customer without the supervisor's knowledge or authorization.
|
March 2006
|
|
Duco, Christopher Alan
|
Clinton Township, MI
|
Barred
|
Pursuant to FINRA Rule 9552(h)Rule 9552(h)
|
December 2009
|
|
Dudnik, Dennis A.
|
Brooklyn, New York
|
Revoked
|
Failure to pay fines and/or cost in accordance with NASD Rule 8320
|
May 2005
|
|
Duff, Joseph Walter
|
Berlin, NJ
|
Barred
|
Duff submitted a Letter of Acceptance,Waiver and Consent in which he was barred from association with any FINRA member in any capacity.Without admitting or denying the findings, Duff consented to the described sanction and to the entry of findings that he improperly withdrew and misappropriated $193,000 from customers' bank accounts by preparing debit memoranda and withdrawal slips then depositing the improperly withdrawn funds into his personal bank account or transferring the funds to other customers' bank accounts. (FINRA Case #2007010600401)
|
October 2009
|
|
Duffy, Gregory J.
|
Brewster, NY
|
Barred
|
Duffy failed to appear for a FINRA on-the-record interview.
(FINRA Case #2007007358601)
|
August 2009
|
|
Dugo, Lawrence
|
Brooklyn, NY
|
Barred
|
A Yankee broker who settled charges they used fraudulent sales practices in recommending shares to investors
|
February 2005
|
|
Dunakin, III, Donald Raymond
|
El Dorado Hills, CA
|
Complaint Filed
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Dunakin was named as a respondent in a FINRA complaint alleging that he recommended securities purchases to a customer when he knew the customer did not have the financial resources to purchase securities without using funds from a home loan, and that he therefore had no reasonable basis to believe that the transactions were suitable for the customer. The complaint also alleges that Dunakin did not have a reasonable basis for believing that his recommendations to purchase securities on margin, which amounted to debt secured by debt, such as purchasing securities on margin, were suitable for the customer in light of the customer's financial circumstances and needs. The complaint further alleges that Dunakin provided false
testimony to FINRA in an investigation. (FINRA Case #2007010558801)
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September 2009
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Dunbar, Stephen Patrick
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Atlanta, GA
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Barred
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The sanction was imposed by the National Adjudicatory Council (NAC) following appeal of an Office of Hearing Officers (OHO) decision. The sanction was based on findings that Dunbar engaged in unsuitable trading in public customers' accounts. The findings stated that, in an effort to conceal the unsuitable trading in the accounts, Dunbar provided the
customers with false and misleading account summaries. The findings also stated that Dunbar exercised discretion in the customers' accounts without written authorization.
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August 2008
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Dunigan, Jack David
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Anaheim, CA
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Barred
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Pursuant to FINRA Rule 9552(h)
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August 2009
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Duque, Victor Anthony
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Westbury, New York
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Barred
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In an attempt to settle a complaint by a public customer, Duque proposed settlement terms, and made settlement payments, to the customer without obtaining written authorization from his member firm. The findings also stated that Duque failed to respond to NASD requests for an on-the-record interview.
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June 2005
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Durham, Shannon
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Carrollton, Texas
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Barred
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Pursuant to NASD Rule 9552(h)
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April 2007
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Dvorznak, James Anthony
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Bethpage, New York
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Barred
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He effected unauthorized transactions in public customers' accounts. The findings also stated that Dvorznak failed to appear and provide requested testimony.
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June 2005
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Dykes, Leland Alan
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Houston, TX
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Barred
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Dykes raised $450,000 from public customers and represented that their funds would be utilized to invest in pharmaceutical companies or to purchase medical receivables, and that they would receive a return on their investments, but he failed to adequately disclose all
potential risks associated with the investment. The findings stated that Dykes subsequently utilized the investors' funds for, among other things, personal and other expenses and to make purported interest/return of principal payments to the investors. The findings also stated that Dykes willfully failed to update his FormU4 to disclose material information. The findings also included that Dykes failed to respond to FINRA
requests for information.
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August 2008
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