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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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Kaminsky, Daniel
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Kintersville, Pennsylvania
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Barred
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Violated NYSE 476(a)(6) by failing to disclose prior criminal conviction on employment application submitted to his member firm employer; violated NYSE Rule 477 by failing to comply with written requests by NYSE for information concerning matters that occurred prior to employment termination.
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August 2006
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Kapara, Ram
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Brooklyn, New York
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Barred
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He failed to respond to NASD requests for information and to appear for on-the-record interviews. The findings also stated that Kapara submitted a copy of his purported signed resignation letter bearing a date that was false and misleading to NASD. In addition, NASD found that Kapara made material misrepresentations to public customers in connection with the sale of securities to public customers. Moreover, NASD found that Kapara effected private securities transactions and failed to provide prior written notice to his member firm describing the proposed transaction, his proposed role therein, and stating whether he had or might receive compensation for it. The NAC reversed the finding that Kapara exercised discretion in the account of a public customer without the customer's written authorization and his firm's written acceptance of the account as discretionary.
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August 2005
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Kapsalis, Roger Angelo
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Brooklyn, New York
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Barred
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Kapsalis participated in a private securities transaction, failed to provide written notification to his member firm and failed to respond to NASD requests for information.
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February, 2007
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Karcagi,
Joseph Lee
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Punta
Gorda, Florida
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Barred
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He failed to appear in response to an NASD
request for an on-the-record interview.
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November
2005
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Karidas, Thomas George
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Athens, Greece
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Barred
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Karidas failed to respond to a FINRA request for an on-the-record interview.
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November 2007
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Kaso, William Anthony
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Penbroke Pines, FL
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Barred
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Pursuant to NASD Rule 9552(h)
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November 2007
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Kassar, William Edward (Jr.)
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Lattingtown, New York
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Complaint Filed
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Named as respondent in an NASD complaint alleging that he intentionally or recklessly engaged in manipulative or deceptive devices or contrivances in connection with the purchase or sale of securities, and intentionally or recklessly effected transactions in, or induced the purchase or sale of, securities by means of manipulative, deceptive, or other fraudulent devices or contrivances. The complaint also alleged that he acted without regard for public customers' investment objectives, financial resources, and the character of the customers' accounts. The complaint further alleged that he did not have a reasonable basis to believe that their recommendations and the resulting transactions were suitable for the public customers in light of the customers' financial situations, investment objectives, and needs. The transactions resulted in concentrated positions in individual speculative stocks that were inappropriate for the customers. The complaint also alleged that he effected, or caused to be effected, trades in a public customer's account, without the customer's prior knowledge or consent. The complaint alleged that he conducted trades in a public customer's account on margin despite the fact that there was no margin agreement. In addition, the complaint alleged that he took actions to settle a public customer's complaint without the knowledge or consent of his member firm. The complaint further alleged that he provided false, deceptive, inaccurate, and/or incomplete testimony to NASD during an on-the-record interview.
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April 2005
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Katona, Frank A.
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Porte Madera, California
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1-Year Suspension
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He substantially participated in the sale of unregistered securities. The findings also stated that he entered into an arrangement with the principals of a private company to help raise money by selling "to be issued" shares to public customers and failed to tell them that 25 percent of the money they invested was compensation to him. NASD also found that he failed to amend his Form U4 to disclose material information.
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January 2005
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Kaufman, Barry Alan
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Boca Raton, Florida
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Barred
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He effected unauthorized securities transactions in the accounts of public customers. The findings also stated that he failed to execute customer orders.
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March 2005
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Kavalec, John Francis
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Batavia, Illinois
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Barred
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Kavalec failed to respond to NASD requests for information. The findings stated that Kavalec borrowed $25,000 from a public customer in contravention of his member firm's written supervisory procedures specifically prohibiting borrowing money from customers.
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July 2007
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Kaweske, John David
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Miami, Florida
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Barred
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The NAC imposed the sanctions following appeal of an OHO decision. The sanctions were based on findings that Kaweske failed to promptly return investor funds after an offering closed without meeting its sales contingency, and failed to establish an escrow account for the contingency offering.
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May 2007
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Kay, Herbert Ivan
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Columbus, Ohio
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Barred
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He was engaged in private securities transactions and failed to provide prior written notice to his member firm.
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January 2005
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Keane, Eileen A.
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Unknown
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Censure and bar until she complies, to become permanent if she does not comply in three months.
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Violated Exchange Rule 477 by failing to comply with requests for documents and for testimony.
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February 15, 2005
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Keffler, Michael William
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Lolo, Montana
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2-Year Suspension
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Keffler consented to the described sanctions and to the entry of findings that, while taking the Series 53
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February, 2007
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Kelle, Calvin L.
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Quincy, IL
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Barred
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Pursuant to NASD Rule 9552(h)
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November 2007
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Kelly, James Brian
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Severna Park, Maryland
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Complaint Filed
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Named as a respondent in an NASD complaint alleging that he exercised effective control over a public customer's personal account and recommended stock transactions for the account that were excessive and effected using an excessive margin amount. The complaint also alleges that Kelly, directly or indirectly, by use of any means or instrumentalities of interstate commerce or of the mails, knowingly or recklessly used or employed, in connection with the purchase or sale of securities, manipulative or deceptive devices or contrivances; and knowingly or recklessly effected transactions in, or induced the purchase or sale of, securities by means of manipulative, deceptive or other fraudulent devices or contrivances. The complaint further alleges that Kelly engaged in short-term, frequent securities purchases and sales in a public customer's personal account without a reasonable basis for believing that the transactions were suitable for the customer based on the frequency of the transactions, the nature of the customer's account, and his financial situation and needs, and effected transactions through the excessive use of margin which was unsuitable for the customer. In addition, the complaint alleges that Kelly exercised discretion in the customer's account without his member firm's prior written acceptance of the account as discretionary, and misled his firm that he had exercised discretion by falsely answering compliance-related questionnaires.
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July 2006
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Kelley, Kevin Owen
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Norwalk, Connecticut
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Barred
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Kelley engaged in outside business activities without providing prompt written notice to his member firm. The findings also stated that Kelley failed to appear for an NASD on-the-record interview.
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June 2005
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Kelly, Brian James
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Severna Park, MD
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Barred
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Kelly churned a public customer's account and engaged intrading in the account that was unsuitable due to the quantity of trades and excessive use of margin. The findings stated that Kelly exercised discretion in the customer's account without his member firm's prior written approval. This decision has been appealed to the NAC and the sanction is not in effect pending consideration of the appeal.
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October 2007
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Kelly, Michael Eugene
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Wadsworth, Ohio
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Barred
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He effected transactions in the account of a public customer without having reasonable grounds for believing that these recommendations and resultant transactions were suitable for the customer on the basis of her financial situation, investment objectives, and needs.
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August 2005
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Kelly, William George (Jr.)
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Fort Lauderdale, Florida
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Barred
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Kelly borrowed $25,000 from a public customer in contravention of his member firm's written supervisory procedures stating that employees were not allowed to borrow money from, or lend money to, firm customers. The findings stated that Kelly falsely represented to his firm in a signed compliance questionnaire that he had not borrowed money from any firm customer. The findings also stated that Kelly delivered a personal check to the customer as repayment of the loan but the check was returned to the customer for insufficient funds due to a closed account-Kelly has never made any payment on the loan. The findings also included that Kelly failed to respond to NASD requests for information.
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December 2006
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Kelsch, Karen
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Unknown
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Consent to censure and a permanent bar.
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Engaged in conduct inconsistent with just and equitable principles of trade in that she misappropriated funds belonging to another employee of her member firm organization.
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June 16, 2005
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Kelsey, John Alvin
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La Crosse, WI
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Barred
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Kelsey failed to respond to FINRA requests for documents and information.
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April 2008
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Kendall, Allyne Riese, (III)
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San Diego, California
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Barred
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Pursuant to NASD Rule 9552 (h)
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November 2005
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Kendall, William A.
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Abington, Massachusetts
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Barred
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Kendall consented to the described sanction and to the entry of findings that he entered into lending arrangements with customers and failed to inform his member firm or to obtain the firm's permission, contrary to the firm's written supervisory procedures that prohibit its representatives from borrowing money from customers. The findings stated that Kendall failed to appear for an NASD on-the-record interview.
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July 2006
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Kerrigan, Tyler McClintock
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New Orleans, Louisiana
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Complaint Filed
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Named as a respondent in an NASD complaint alleging an unsuitable recommendation of variable annuities. The complaint also alleges that Kerrigan used sales literature without obtaining prior approval.
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May 2005
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Kesner, Gerald Jamieson
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Littleton, Colorado
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Complaint Filed
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Kesner was named as a respondent in an NASD complaint alleging that he recommended that public customers join an investor group he assembled and acquire stock by pledging equity in their home and securities held at his member firm as collateral for the loan the group would obtain to finance the acquisition.
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May 2007
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Ketcham, Mike A.
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Palatine, IL
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Barred
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Ketcham exercised control over a bank customer's account and used the customer's personal information to create an account under a fictitious name. The findings stated that Ketcham created positive balances in each account by reversing overdraft fees that had never been assessed and, without the affiliate's knowledge or consent, withdrew $7,141 from the accounts, thereby converting the funds for his personal use or to benefit someone other than the affiliate. The findings also stated that Ketcham failed to respond to NASD requests for information.
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September 2007
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Key, Bryon Scott
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Mt. Pleasant, South Carolina
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Barred
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Key consented to the described sanctions and to the entry of findings that he willfully failed to disclose material information on his Form U4. The findings stated that Key also failed to disclose his interest in a securities account to his member firm and to the firm carrying the account. The findings also stated that Key failed to respond to NASD requests for information and documents.
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August 2006
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Keyes, Philippe Noel
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Valencia, CA
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2-year 6-month suspension
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The NAC imposed the sanctions following the SEC's remand of a previous NAC decision. Keyes engaged in private securities transactions for compensation without priorwritten notice to, and written approval from, his member firm. The findings also stated that Keyes provided public customers with misleading sales literature in connection with the sale of promissory notes that were securities.
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October 2007
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Kim, Daniel Soohwan
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Santa Ana, California
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Barred
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He converted $150,000 from public customers' variable life insurance policy accounts for his own personal use.
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March 2006
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Kim, Ki-Moon
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Salt Lake City
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Barred
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He withdrew or transferred $26,988 from the bank accounts of public customers without their authorization. The findings also stated that Kim changed the mailing address on a public customer's account form to his branch office address without the consent or knowledge of the customer.
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March 2005
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Kimmel,
Marc Steven
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Los
Angeles, California
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Barred
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By the use of means or instrumentalities of
interstate commerce or of the mails, intentionally and recklessly affected
transactions, and induced the purchase and the sale of securities by means of
deceptive, manipulative and other fraudulent devices or contrivances.
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November
2005
|
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King, Jeffrey
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Sellersberg, Indiana
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Barred
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Pursuant to NASD Rule 9552 for Failure to Provide Information Requested under NASD Rule 8210
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April 2005
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King, Larry (Jr.)
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Detroit, Michigan
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Barred
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He misused a public customer's bank account funds in that he induced the customer to sign, unknowingly, withdrawal slips and a certified check request form, and made $75,409.59 in withdrawals from customer's account and used the funds for a purpose other than the benefit of the customer for a period of time before returning the funds to the customer. The findings also stated that King failed to respond to NASD requests for documents and information.
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April 2005
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Kirby, Weston Raymond
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Dallas, Texas
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Barred
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Kirby credited his personal brokerage account $7,000 and withdrew the funds from his account for his personal use and benefit, all of which was done without any deposit of funds to support such credits and without the authorization or consent of his member firm. The findings also stated that Kirby effected transactions in a public customer's account without the authorization or consent of the customer.
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July 2005
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Kirincic, Anthony Joseph
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Dix Hills, NY
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Barred
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Kirincic, acting on behalf of his firm, Kirlin Securities, Inc., used deceptive techniques to manipulate the price of securities. The findings stated that Kirincic forged public customers' signatures on stock certificates and authorization letters. 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 2008
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Kirsch, Steven Charles
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Boca Raton, Florida
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Barred
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Kirsch provided false testimony about his activities at an NASD on-the-record interview. NASD found that he performed supervisory duties while subject to a 30-day suspension and failed to reasonably supervise his research department prior to his 30-day suspension to ensure that a research report issued by his member firm was accurate.
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July 2005
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Kitson, Sandeep David
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New York, New York
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2-Year Suspension
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He made unsuitable securities recommendations and executed unsuitable transactions for the accounts of public customers. The findings also stated that Kitson willfully failed to disclose material facts on his Form U4.
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August 2005
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Klein, Adam
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Hallandale, FL
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Barred
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Barred for failing to appear and testify in connection with NASD's investigation.
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February 2005
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Klein,
Brian Craig
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Farmingdale,
New York
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Barred
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The NAC imposed the sanctions following appeal of a hearing panel decision. The sanctions were based on findings that Klein engaged in fraud by recklessly failing to disclose to public customers potential sales incentives for selling a particular recommended stock. The sanctions were also based on the hearing panel's findings that Klein made fraudulent price predictions for the stock in order to induce customers to purchase it.
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April 2007
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Kleven, Jayne Ann
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Mequon, Wisconsin
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Barred | | | | |
