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DISCLAIMER
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Name
|
Residence
|
What
|
Why
|
Date
|
|
Fabian, Joseph Stephen
|
Gobles, MI
|
Barred
|
Fabian failed to respond to a FINRA request for information.
The findings stated that Fabian received $104,000 from an individual for the purchase of real estate and that the individual requested documentation of his agreement with
Fabian. The findings stated that Fabian falsified a document to create the appearance that the funds paid to him were invested in real estate, but there was no evidence
regarding what Fabian did with the money, although he eventually repaid the individual. The findings also stated that Fabian engaged in outside business activities, for compensation, without prior written notice to his member firm.
|
July 2009
|
|
Fabiano, Michael Joseph
|
Yardley, Pennsylvania
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
July 2007
|
|
Fairbend, Karen Lee
|
Antioch, TN
|
Barred
|
Fairbend converted, for her own use and benefit, $100 in prepaid cell phone rebate cards that belonged to another registered representative. (FINRA Case #2008016096201)
|
August 2009
|
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Famageltto, Stacy Noel
|
Aurora, OH
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
November 2008
|
|
Farrar, Jr., Randle Wayne
|
Cedar Hill, TX
|
Barred
|
Farrar forged his supervisor's signature on checks made payable to Farrar or to his creditors, And misappropriated $14,739.03 from his supervisor's business checking account. The findings stated that Farrar refused to provide a signed written statement and
supporting documents FINRA requested regarding the circumstances surrounding the termination of his employment by his member firm.
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February 2009
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Farrell, III, James Thomas
|
West Hartford, CT
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Barred
|
Without admitting or denying the findings, Farrell consented to the described sanction and to the entry of findings that he withdrew more than $900,000 from a pension plan he administered,including nearly $245,000 he was required to segregate pursuant to a qualified domestic relations order. The findings also stated that in false and misleading filings with the Department of Labor, the Internal Revenue Service and account statements distributed to plan participants, Farrell indicated that the plan's assets were invested in a money market fund, when in fact Farrell had transferred the funds to his bank account for his own use. (FINRA Case #2008014827101)
|
February 2010
|
|
Farrell, Richard Francis
|
Moline, IL
|
5-year bar
|
Farrell violated NYSE Rule 476(a)(6) by (a) obtaining funds from customers of his member firm employer for investment and/or loan without disclosing material facts and/or without providing written memorialization reflecting the terms to the customers, (b) obtaining funds from customers of his member firm employer without disclosing the investment and/or loan to, and without receiving prior approval of his member firm employer, and (c) soliciting and obtaining funds from customers of his member firm employer to pay a mortgage on a commercial property that he owned.
|
November 2007
|
|
Faulkner, John Douglas
|
Fort Lauderdale, FL
|
Barred
|
Falkner 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, Faulkner consented to the described sanction and to the entry of findings that he failed to fully respond to FINRA requests for information and documents. (FINRA Case #2009020917101)
|
April 2010
|
|
Faulks, Traci Renae
|
Lucasvile, OH
|
Complaint Filed
|
Faulks was named as a respondent in a FINRA complaint alleging that she misappropriated from her member firm $9,613.84 in customer insurance premium payments made by the firm's customers. The complaint alleges that Faulks commingled her personal cash with cash premium payments made at her sales office and used the cash premium payments for personal use. The complaint alleges that she then replaced the cash premium payments used for her personal use with cash premium payments made at a later date. The complaint also alleges that after her termination, there was a shortage of $9,613.84 in the amount deposited for customer insurance premiums, which premiums the customers were credited for. The complaint further alleges that Faulks failed to respond to FINRA requests for information and to appear for on-the-record testimony. (FINRA Case #2008012897501)
|
May 2010
|
|
Fawcett, IV, Charles Collingwood
|
Venetia, PA
|
Barred
|
The SEC affirmed the NAC decision that imposed the sanction following appeal of an OHO decision. The sanction was based on findings that Fawcett failed to respond to FINRA requests for information and to provide on-the-record testimony.
|
March 2008
|
|
Fay, Scott B.
|
Danbury, CT
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
January 2010
|
|
Featherstone, Brian Che
|
Irvington, New York
|
Barred
|
Featherstone consented to the described sanction and to the entry of findings that, acting individually and as a member of a sales group, he participated in a fraudulent scheme to sell shares of a security to public customers, utilizing classic, boiler-room techniques to induce customers to purchase the security and to dissuade them from selling it. The findings stated that Featherstone used high-pressure sales pitches, material misrepresentations, omissions of fact and unauthorized transactions in customer accounts. The findings also stated that Featherstone failed to provide customers with disclosures concerning the risks associated with investing in penny stocks.
|
May 2006
|
|
Feibus, Terry Lee
|
Boca Raton, Florida
|
Barred
|
He engaged in the unregistered offer and sale of securities owned by a registered representative. The findings stated that Feibus made material misrepresentations and failed to disclose material facts to public customers in connection with the unregistered offer and sale of securities.
|
May 2006
|
|
Feil, Adam
|
New York, NY
|
2-Year Bar
|
Feil violated NYSE Rule 476(a)(6) by (a) causing employer to
purchase, sell or redeem shares of mutual funds at prices that were not based on current net asset value computed after receipt of tender for redemption or of order to purchase or sell, in violation of applicable regulatory requirements of Rule 22(c) 1 promulgated under the Investment Company Act of 1940; (b) causing his employer to improperly purchase, sell or redeem shares of mutual funds after close of market at share price prior to close, rather than at next day's share price; and (c) engaged in deceptive practices with respect to certain business activities involving trading of mutual funds.
|
June 2008
|
|
Feldhacker, Kenneth Duane
|
Phoenix, Arizona
|
Barred
|
Feldhacker opened a joint brokerage account with a public customer without the customer's authorization or consent. The findings stated that Feldhacker forged customers' names on various account documents, and used blank forms the customers signed to withdraw funds from their accounts. The findings also stated that by forging customer signatures, Feldhacker initiated redemptions in the accounts that belonged to the customers and transferred money from mutual funds, variable and fixed annuities, and/or life insurance accounts to the joint account without the customers' knowledge or consent. The findings also included that Feldhacker made unauthorized and fraudulent withdrawals and transfers from the customers' accounts to the joint account, thereby converting funds in excess of $250,000 for his own use and benefit.
|
April 2007
|
|
Feldman,
Vladimir William
|
Brooklyn,
New York
|
Barred
|
He engaged in fraudulent sales practices and
made material misrepresentations and omissions regarding securities,
including unsubstantiated price predictions.
|
September
2005
|
|
Femister, Thomas Ray
|
Washington, District of Columbia
|
Barred
|
He converted funds of a public customer for his own use and benefit without the knowledge or authorization of the customer. The findings also stated that Femister failed to respond to NASD requests for documents and information.
|
June 2005
|
|
Fence, Steven Roger
|
Little Egg Harbor, NJ
|
Barred
|
Fence engaged in excessive and unsuitable trading in bonds and mutual funds in elderly customers' accounts without having a reasonable basis for believing that the recommendations were suitable based upon the customers' investment objectives, financial situation and needs. The findings stated that Fence failed to appear for FINRA on-the-record interviews.
|
April 2009
|
|
Fenton, Jonathan
|
Las Vegas, NV
|
Complaint Filed
|
Fenton was named as a respondent in a FINRA complaint alleging that the firm, acting through Fenton and anotherregistered representative, recommended and effected the purchase of limited partnership interest in hedge funds without having reasonable grounds for believing that the recommendations and resultant transactions were suitable for public customers.
|
February 2008
|
|
Ferguson, Bradley Richard
|
Monrovia, IN
|
Barred
|
Ferguson forged a public customer's signature on a [403(b)]Distribution Request Form and the reverse side of checks totaling $18,987.80, endorsed the checks and deposited them into his personal bank account without the customer's knowledge or consent, thereby converting the customer's funds. The findings stated that Ferguson failed to respond to NASD requests for information.
|
September 2007
|
|
Fernandez,
Fernando
|
Boca
Raton, Florida
|
Barred
|
Pursuant to NASD Rule 9552 (h)
|
October 2005
|
|
Fernandez, George I.
|
Miami, Florida
|
Barred
|
Pursuant to NASD Rule 9552 for failure to provide information requested under NASD Rule 8210
|
December 2004
|
|
Fernandez, Gerardo A.
|
Parkland, FL
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
September 2009
|
|
Fernandez, Jorge Guillermo
|
Mayfield Heights, Ohio
|
Barred
|
Delaney consented to the described sanctions and to the entry of findings that he exercised discretionary power in public customers' accounts without obtaining prior written authorization from the customers and prior written acceptance of the accounts as discretionary from his member firm.
|
August 2006
|
|
Fernando, Brian Lintag
|
Las Vegas, NV
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
December 2007
|
|
Ferragamo, Joseph
|
Brooklyn, NY
|
Barred
|
one of the owners of the Yankee Brooklyn branch office, barred for failing to appear and testify in connection with NASD's investigation.
|
February 2005
|
|
Ferraioli, Brian Frederick
|
West Orange, NJ
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
December 2007
|
|
Ferrara, Gary John
|
Verona, New Jersey
|
Barred
|
While acting as a member of a group of salespersons, he employed classic boiler-room techniques to induce customers to purchase shares of a company. NASD found that the members of the group engaged in fraudulent misrepresentations and omissions to induce purchases or to discourage sales of shares in a company and routinely predicted the stock would shortly increase in price. The findings also stated that he engaged in unauthorized trading, as well as other deceptive practices, including buying more than the customer authorized or insisting that the customer pay for an unauthorized trade before selling the stock. In addition, NASD determined that each member of the group knowingly or recklessly provided substantial assistance to other members of the group engaged in the same or similar misconduct, in furtherance of the scheme. The findings also included that he failed to furnish customers, prior to effecting such transactions, a risk disclosure document containing the information required by penny stock rules and failed to obtain from customers, prior to effecting customer transactions in a stock, a manually signed and dated written statement acknowledgement receipt of such risk disclosure documents.
|
March 2005
|
|
Ferrara, Remigio Paul
|
Springfield, VA
|
Barred
|
Without admitting or denying the findings, Ferrara consented to the described sanction and to the entry of findings that he facilitated an investment by his member firm's customers in the form of a promissory note and did not provide written notice to, or obtain approval from, his firm prior to facilitating the investment. The findings stated that Ferrara failed to respond to
FINRA requests for information and documentation. (FINRA Case #2009017274001)
|
June 2010
|
|
Fest, Brian John
|
West Des Moines, IA
|
Barred
|
Without admitting or denying the findings, Fest, along with Traci Ann Thomason, consented to the described sanctions and to the entry of findings that they did not provide customers with complete written disclosure of material terms of transactions before they entered into them, including surrender charges paid, sales charges incurred on new investments and optional riders selected on annuities. The findings stated that Fest's and Thomason's member firm required that registered representatives obtain a customer's signature on transaction documents after they were completed to evidence that the customer was aware of the disclosures in those documents. The findings also stated that Fest had clients sign blank transaction documents, which he had Thomason complete later with inaccurate information, including inaccurate sales charges and incorrect rationale for transactions, and submitted the documents to his firm without the clients' review. The findings also included that Fest provided inaccurate and misleading information to FINRA staff during on-the-record testimony and attempted to persuade Thomason to corroborate his inaccurate testimony. FINRA found that Fest's pattern of recommending short-term unit investment trust trading in his customer's accounts was unsuitable (FINRA Cases #2005002244303 / #2005002244302)
|
December 2009
|
|
Fiebich,
Carl Gene
|
Fenton,
Michigan
|
Barred
|
He engaged in outside business activities
without giving his member firm prompt written notice.
|
December
2005
|
|
Field, Marshall Jerold
|
Calabasa, CA
|
Barred
|
The NAC imposed the sanction after upholding Hearing Panel findings that Field had engaged in a pattern of making fraudulent misrepresentations and omitting material facts in recommending the purchase and sale of bonds, executed unauthorized transactions and guaranteed a customer against loss.
|
December 2008
|
|
Figliolini, Johnny Phillip (Jr.)
|
Wainscott, New York
|
Barred
|
Figliolini permitted a statutory disqualified individual to be associated with an NASD member firm.
|
June 2006
|
|
Fine-Abramowitz, Ronni Lee
|
Roselle, Illinois
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
May 2006
|
|
Finley,
Anne Elizabeth
|
Ridgewood,
New Jersey
|
Barred
|
She signed a customer’s signature on a
variable life insurance illustration without the customer’s knowledge,
authorization or consent.
|
September
2005
|
|
Finley, Charles Todd
|
Ft. Worth, TX
|
Barred in any principal capacity plus 2-Year Suspension from association with any FINRA member
|
Finley failed to reasonably supervise an unregistered person; failed to monitor the activity in customer accounts assigned to him; and recklessly permitted an unregistered person to effect unauthorized transactions, unauthorized withdrawalsand the transfer of $863,200 in customer funds and securities valued at $69,690 by means of forged authorization letters.
|
February 2008
|
|
Finstra, Robert
|
Brandon, FL
|
Barred
|
Finstra willfully failed to disclose material information on his FormU4. The findings stated that Finstra failed to respond to FINRA requests for information.
|
October 2007
|
|
Fischer, Garrett Richard
|
Des Moines, Iowa
|
Barred
|
Fischer failed to respond to NASD requests for information. The findings stated that Fischer failed to disclose material information on his Form U4.
|
July 2007
|
|
Fischer, Scott Kenneth
|
Lake In The Hills, Illinois
|
Barred
|
He recommended securities transactions to public customers without having a reasonable basis for believing the recommendations and resulting sales were suitable for the customers. The findings also stated that Fischer executed mutual fund switches in the accounts of public customers without written authorization. NASD also found that Fischer prepared and/or submitted falsified documents containing the purported signatures of public customers on forms required by his member firm that explained the financial impact of transactions in connection with mutual fund switches that occurred in their accounts.
|
February 2005
|
|
Fisher, Dena Meacham
|
Highlands Ranch, CO
|
Barred
|
Fisher sought and received reimbursement for more than $9,400 from her member firm to which she was not entitled, thereby misappropriating her member firm's funds for her own use. The findings stated that Fisher falsified expense reports,
causing her firm's books and records to be false.
|
November 2008
|
|
Fitzgerald,
William John
|
Bethpage,
New York
|
Barred
|
He failed to provide NASD requested
testimony.
|
January
2006
|
|
Fium, Dan Robert Del
|
Las Flores, California
|
Barred
|
He signed the names of public customers on an authorization form without the customers' knowledge or consent.
|
June 2005
|
|
Flaherty, Coleman James (III)
|
South Boston, Massachusetts
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
November 2006
|
|
Fleites, Amanda Michelle
|
Urbandale, IA
|
Barred
|
Fleites was barred from association with any FINRA member in any capacity. The sanction was based on findings that Fleites failed to respond to FINRA request for information. The findings stated that Fleites willfully failed to disclose material information on her Form U4. (FINRA Case #2008013621001)
|
November 2009
|
|
Fleming, Roger Dennis
|
Murfreesboro, TN
|
Barred
|
Fleming failed to respond to FINRA requests for information.
|
December 2008
|
|
Flitt, Daniel Stephan
|
Buffalo, NY
|
Barred
|
Flitt borrowed $2,660 from a public customer without his member firm's approval and contrary to his firm's written procedures prohibiting representatives from borrowing money from customers. The findings stated that Flitt failed to respond to FINRA requests for information.
|
October 2007
|
|
Flores, Rizalina Dones
|
Unknown
|
Censure and six year bar.
|
Failed to disclose her criminal history on an employment application including a conviction which made her subject to a statutory disqualification.
|
March 23, 2005
|
|
Flores-Ybaceta, Karla
|
Long Beach, CA
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
November 2009
|
|
Flowers, III, Earnest
|
Laurelton, NY
|
Complaint Filed
|
Flowers was named as a respondent in a FINRA complaint alleging that, in connection with the sale of investments in a film production company, Flowers made misrepresentations with the intent to deceive, manipulate or defraud, and made omissions of material information. The complaint alleges that Flowers misused at least $30,498 he received for investment to repay an individual who had loaned him funds and to pay for personal expenses without the investors' knowledge, consent or authorization. The complaint also alleges that Flowers made unsuitable recommendations to a customer in light of the customer's financial situation, investment objectives and financial needs; attempted to settle away complaints without his member firm's knowledge or consent; and communicated with customers via unapproved outside email accounts without his member firms' knowledge or consent, and, as a result of his outside communications, His member firms were unable to review his emails to firm customers. The complaint further alleges that Flowers engaged in private securities transactions without prior written notice to, or prior written approval from, his member firms, or, in the alternative, engaged in outside business activities without providing written notice to his firms. (FINRA Case #2009016956601)
|
March 2010
|
|
Floyd, Steven Emery
|
West Jordan, UT
|
Complaint Filed
|
Floyd was named as a respondent in a FINRA complaint alleging that while employed as a registered representative at a member firm and a personal banker at a bank affiliate, he requested and obtained temporary ATMcards for customers and used the cards to withdraw approximately $15,668 from their bank accounts without their knowledge or consent. The complaint alleges that Floyd failed to return any of the funds to the customers or reimburse the bank after it repaid the funds to the customers. The complaint also alleges that Floyd failed to respond to FINRA requests for information. (FINRA Case #2009016586601)
|
February 2010
|
|
Foerster, Frank
|
New York, NJ
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
February 2008
|
|
Forbes, Thomas Mitchell
|
Debary, Florida
|
Barred
|
He willfully failed to disclose material information on his Form U4. The findings stated that Forbes failed to respond to an NASD request for information.
|
May 2006
|
|
Forcher, Suzanne Marie
|
Unknown
|
Consent to censure and permanent bar.
|
Engaged in conduct inconsistent with just and equitable principles of trade in that on one or more occasions she misappropriated funds from customers of her member firm employer; violated Exchange Rule 477 in that she failed to comply with written requests by the Exchange for information concerning matters which occurred prior to her termination of employment with a member organization.
|
October 19, 2005
|
|
Forero,
Alfonso
|
Port
Reading, New Jersey
|
Barred
|
He caused $72,000 to be withdrawn from
public customers’ bank accounts and used these funds to pay other customers
or for his own personal benefit without the authorization or consent of the
customers.
|
September
2005
|
|
Forgacs, Darin Michael
|
Livonia, MI
|
Barred
|
Forgacs failed to respond to FINRA requests for information and documents.
|
June 2008
|
|
Forman,
Adam Todd
|
Royal
Palm Beach, Florida
|
Barred
|
He, by the use of means or instrumentalities
of interstate commerce or of the mails, intentionally and recklessly effected
transactions in, and induced the purchase and the sale of stocks by means of
deceptive, manipulative and other fraudulent devices or contrivances.
|
December
2005
|
|
Forman, David Steven
|
Voorhees, NJ
|
Barred
|
Without admitting or denying the allegations, Forman consented to the described sanction and to the entry of findings that he participated in the sale of a $5 million life insurance policy to a trust and took control of the policy. The findings stated that Forman informed the trustee that the trust might obtain more money by selling the policy than by redeeming it for its cash value after notification was received that the policy would lapse for failure to pay premiums. The findings also stated that Forman participated in sending premium payments to avoid a lapse in the policy without the trustee's knowledge or consent, facilitated the sale of the policy with forged and falsified documents, and retained the entire amount of the sale proceeds, approximately $942,000, for himself and another individual. No portion of the sale proceeds was paid to the customers or the trust. (FINRA Case #2007007989901)
|
February 2010
|
|
Forrest, Jeffrey Allan
|
San Louis Obispo, CA
|
Barred
|
Forrest failed to respond to FINRA requests for information. (FINRA Case #2007011094801)
|
February 2010
|
|
Forrester, Kevin Thomas
|
Phoenix, MD
|
Barred
|
Forrester received $1million from public customers to invest on the customers' behalf but, instead, converted the bulk of the funds to his own use and benefit and used some of the funds to repay other persons who had given him funds for investment. The findings stated that Forrester failed to respond to FINRA requests for documents and information.
|
June 2008
|
|
Formy-Duval, William Hall
|
Wilmington, North Carolina
|
Barred
|
He allowed an individual to function as a registered person with his member firm without the benefit of registration, despite the fact that the individual was serving an NASD suspension. The findings stated that Formy-Duval failed to ensure that his member firm maintained its required minimum net capital, and caused his firm to prepare inaccurate net capital computations and to file inaccurate FOCUS reports. Formy-Duval failed to use a proper escrow account in connection with a securities offering, and failed to close the offering and return funds to customers at the offering's expiration when the minimum contingency had not been met. The findings also included that Formy-Duval failed to reasonably supervise his member firm and its representatives to prevent and detect sales practice violations. NASD found that Formy-Duval failed to enforce his firm's supervisory procedures and failed to establish and enforce an adequate supervisory system in that he failed to ensure that all covered employees attended annual compliance meetings, failed to ensure that the principal of the firm reviewed correspondence, advertising and sales literature, and failed to establish any written procedures for sales of private placements.
|
April 2006
|
|
Formy-Duval, William Hall
|
Wilmington, North Carolina
|
Barred
|
He allowed an individual to function as a registered person with his member firm without the benefit of registration, despite the fact that the individual was serving an NASD suspension. The findings stated that Formy-Duval failed to ensure that his member firm maintained its required minimum net capital, and caused his firm to prepare inaccurate net capital computations and to file inaccurate FOCUS reports. Formy-Duval failed to use a proper escrow account in connection with a securities offering, and failed to close the offering and return funds to customers at the offering's expiration when the minimum contingency had not been met. The findings also included that Formy-Duval failed to reasonably supervise his member firm and its representatives to prevent and detect sales practice violations. NASD found that Formy-Duval failed to enforce his firm's supervisory procedures and failed to establish and enforce an adequate supervisory system in that he failed to ensure that all covered employees attended annual compliance meetings, failed to ensure that the principal of the firm reviewed correspondence, advertising and sales literature, and failed to establish any written procedures for sales of private placements.
|
April 2006
|
|
Forsythe, Byron D.
|
Dallas, Texas
|
Barred
|
He falsely represented to his member firm, in writing, that he had taken and passed the Series 6 examination and failed the Series 63 examination when he had failed to appear for both examinations. The findings stated that Forsythe failed to timely respond to NASD requests for information.
|
March, 2007
|
|
Foster, Michelle Renee
|
Upper Marlboro, MD
|
Barred
|
Foster forged an insurance client's signature as the purported co-signer on a personal loan application and listed that person's social security number and other identifying information on the application. The findings stated that Foster submitted a copy of one of the client's pay statements with the application and took these actions without the client's authorization or consent.
|
October 2008
|
|
Fowler, Steven Dale
|
Parker, CO
|
Barred
|
Fowler misused insurance customers' funds totaling approximately $44,000 that were provided to him to cover the entire policy term. The findings stated that Fowler only
applied a portion of the monies toward the customers' annual premiums, used the remainder of the funds for his own personal benefit and paid the insurance premium
balances at a later date. The findings also stated that the customers neither consented to, nor knew of, Fowler's use of their funds. (FINRA Case #2008013855201)
|
September 2009
|
|
Fox, Jason David
|
St. Petersburg, FL
|
Barred
|
Without admitting or denying the findings, Fox consented to the described sanction and to the entry of findings that he improperly refunded a member firm's bank affiliate service fees to customer bank accounts where such fees were never actually charged, and converted at least $52,000 of the refunded fees after first moving them to other bank accounts. The converted
monies were repaid. (FINRA Case #2009017154401)
|
February 2010
|
|
Fox, Sheldon Bruce
|
Edison, New Jersey
|
Barred
|
In connection with a public customer's investment, he signed documents without the customer's authorization or consent.
|
February 2006
|
|
Francis, Kresge, Richard
|
Bay Shore, New York
|
Barred
|
Kresge failed to establish a reasonable system of supervision and failed to supervise the activities of firm representatives, who engaged in fraudulent solicitations and who made unsuitable recommendations to numerous customers of the firm. In these regards, the findings stated that Kresge failed to make reasonable efforts to determine that supervisory personnel and registered representatives were qualified, failed to ensure that the supervisory system reflected the significantly increased risk profile of the firm's business, failed to distribute supervisory procedures, failed to designate an office as an Office of Supervisory Jurisdiction (OSJ), and failed to implement heightened supervisory procedures for certain representatives. The findings also included that Kresge was responsible for firm representatives' violations of NASD antifraud and suitability rules. NASD found that Kresge failed to report customer complaints to NASD, and failed to register an individual as a principal and a representative with NASD. Kresge has appealed this decision to the SEC, and the bar is in effect pending consideration of the appeal.
|
November 2006
|
|
Francis, Jr., Joseph Marshall
|
Chattanooga, Tennessee
|
Barred
|
Francis opened brokerage accounts on a foreign citizen'sbehalf without disclosing that the citizen was the accounts' true beneficial owner. The findings stated that Francis failed to disclose to the member firms at which the accounts were opened that he was a registered representative of another firm and lied to a representative of one firm about the source of the funds he used to open the account. The findings also stated that Francis failed to properly notify his member firm of the existence of the outside securities accounts. The findings also included that Francis engaged in an outside business activity without notifying his member firm.
|
July 2007
|
|
Francis, Suzette Marine
|
Queens, New York
|
Barred
|
Francis consented to the described sanction and to the entry of findings that she forged public customers' signatures on banking applications, including credit card applications and applications for lines of credit. The findings stated that Francis failed to respond to NASD requests for information.
|
July 2006
|
|
Frankfort, Dana Niles
|
Marina del Rey, California
|
Barred
|
In connection with the purchase or sale of securities, Frankfort, directly or indirectly, by the use of means or instrumentalities of interstate commerce or the mails, employed artifices, devices or schemes to defraud, made untrue statements of material facts or omitted to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, engaged in acts, practices or courses of business that operated or would operate as a fraud or deceit, and/or effected transactions in, or induced the purchase or sale of, securities by means of manipulative, deceptive, or other fraudulent devices or contrivances. The findings stated that Frankfort recommended and effected securities transactions in public customers' accounts without having reasonable grounds for believing the recommendations and resultant transactions were suitable for them based on their financial situation and needs. NASD found that Frankfort participated in private securities transactions without providing prior written notification to, and receiving written approval or acknowledgment from, his member firm.
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May 2006
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Frazier, Marc Aaron
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Centerville, Utah
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Barred
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He affixed, or caused to be affixed, the signature of a public customer to mutual fund letters of acknowledgment without the customer's authorization, knowledge, or consent.
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June 2005
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Frederick, Clark Blumer
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Port Washington, New York
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Barred
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Blumer consented to the described sanctions and to the entry of findings that the firm, (Harrison Securities, Inc.) acting through Blumer, failed to establish and maintain a system to supervise the activities of each registered representative and associated person reasonably designed to achieve compliance with applicable securities laws, regulations, and NASD rules, and failed to develop an adequate supervisory system for review of customer accounts to detect and prevent excessive trading or churning. The findings also stated that Blumer failed to develop an adequate supervisory system for review of customer accounts to detect and prevent excessive trading or churning, and failed to respond to "red flags" indicating that excessive trading or churning was occurring in the customer accounts of certain registered representatives, including excessive account activity, excessive commissions earned, and customer complaints.
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February 2005
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Freeman, III, Phillip Emery
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Tampa, FL
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Barred
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Pursuant to NASD Rule 9552(h)
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February 2008
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Freeman, Sr., Ellis Dwayne
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Fort Washington, MD
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Barred
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Freeman affixed the public customers' signatures on delivery assurance forms without the customers' authorization or consent, and submitted the forms to his member firm, falsely representing that the customers had received their financial plans.
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December 2008
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Fresquez, Beatriz
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Edinburg, TX
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Barred
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Fresquez converted funds from a public customer by ordering an automatic teller machine (ATM) card for the customer, creating a personal identification number (PIN) number for the card and using the card to withdraw $23,323.50 from the customer's bank account. The findings stated that Fresquez also used bank counter withdrawal forms to withdraw $42,923.50 from the account without the customer's knowledge or consent. The findings also stated that Fresquez failed to respond to FINRA requests for information.
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April 2008
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Fricke, Valerie Marie
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Jacksonville, Florida
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Barred
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She converted $129,986 from public customers.
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August 2005
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Frierson,
Myron S.
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Teaneck,
New Jersey
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Barred
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He failed to respond to NASD requests for
information.
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November
2005
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Frith,
James Ralph
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Cave
Creek, Arizona
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Barred
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He made improper use of customer funds
totaling $85,000 received for investment purposes.
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September
2005
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Fronczek, Eric Richard
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Naperville, IL
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Barred
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Pursuant to Rule 9552(h)
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February 2009
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Frost, Robert Allen
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Temecula, California
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Barred
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He engaged in outside business activities, for compensation, without providing prompt written notice to his member firm. The findings stated that Frost maintained a desk in a local bank, falsely told a public customer that he was a salaried bank employee, and failed to disclose that he was a registered representative with a firm and received transaction-based commissions. The findings also stated that Frost recommended a securities transaction to a public customer without having a reasonable basis for believing the transaction was suitable for the customer based upon her age, financial objectives, situation and needs. The findings also included that Frost failed to fully and timely respond to NASD requests for information.
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March, 2007
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Fry, Peggy Lyn
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Aurora, CO
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Barred
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While associated with a member firm, she transferred, or caused the transfer of, $25,000 from a customer's brokerage account to her personal bank account, without the customer's
knowledge or consent, by creating a false Automatic Clearing House Transaction Request Form to which she forged the customer's signature and used the funds to pay personal expenses.
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May 2009
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Fuls,
John Melvin
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Sauk
Rapids, Minnesota
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Barred
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He received a $2,869 check from a public customer
as payment for insurance policy premiums, and Fuls instead deposited the
check into his bank account and converted the funds to his personal use.
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October
2005
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Furgason, Heather Jannelle
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Kalamazoo, Michigan
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Complaint Filed
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Named as a respondent in an NASD complaint alleging that she misused public customer's funds by effecting unauthorized money transfers from and between customers' bank accounts without the knowledge, authorization, or consent of the customers.
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August 2005
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Furino, Frank J.
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Unknown
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Consent to censure and permanent bar.
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Violated Section 10(b) of the Securities Exchange Act of 1934, Rule 10b-5 promulgated thereunder, and Exchange Rule 476(a)(5) in that he used a facility of a national securities exchange to engage in an act, practice or course of business which operated as a fraud or deceit on other persons in connection with the purchase or sale of securities by disclosing to a third party confidential information relating to orders received from customers of his member organization employer, which was then used to trade ahead of and/or along with those customer orders, without the customers' consent, to the detriment of the customer orders and for the benefit of the third party; engaged in conduct inconsistent with just and equitable principles of trade in that while on the Floor of the Exchange, he: (a) disclosed to a third partyconfidential information relating to orders received from customers of his member organization employer in exchange for payment, (b) aided a third party to improperly trade ahead of and/or along with customer orders his member organization employer was representing, without the customers' consent, to the detriment of the customer orders and to the benefit of the third party; engaged in acts detrimental to the interest or welfare of the Exchange in that he: (a) disclosed to a third party confidential information relating to orders received from customers of his member organization employer in exchange for payment, and (b) aided a third party to improperly trade ahead of and/or along with customer orders his member organization employer was representing, without the customers' consent, to the detriment of the customer orders and for the benefit of the third party.
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September 30, 2005
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Furmato, Mark
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Brielle, New Jersey
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Barred
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He improperly transferred profits from one account to another account to receive greater compensation.
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June 2005
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