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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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Macandog, Jose Paul
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Jacksonville, 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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MacDuff, Richard Lawrence
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Silverdale, Washington
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Barred
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He engaged in private securities transactions outside the regular course of his employment with a member firm, failed to provide prior notice to his firm describing in detail his proposed transactions and his role therein, and failed to receive written approval from his firm. The findings stated that MacDuff prepared and distributed sales literature in the form of newsletters to public customers without the knowledge or consent of registered principals of his member firms. The findings also stated that MacDuff prepared and distributed newsletters that contained statements that were unwarranted and misleading, and failed to name the member firm with which he was associated, and failed to file the sales literature with NASD's Advertising Department.
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April 2006
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Macek, Scott Edward
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Cable, Ohio
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Barred
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He caused the withdrawal of at least $35,938 from a public customer's account for his personal use without the customer's knowledge or consent. The findings stated that he opened credit cards in a public customer's name without the customer's knowledge or consent, and converted at least $7,275 for his personal use. NASD found that he forged the customer's signature on the member's client change request form in order to change the representative of the account to himself.
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February 2006
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Magee, Stephen Michael
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Portland, Oregon
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2-Year Suspension
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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.
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March 2005
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Maguire, William John (Jr.)
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Staten Island, New York
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1-Year Suspension
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He failed to complete continuing education courses required by New York State Insurance Laws to sell certain types of insurance in New York. The findings also stated that Maguire furnished an employee of his member firm with documents for courses he purportedly completed and requested that the employee enter the data on the New York Insurance Department Web site, thereby attempting to cause the submission of false data to the Insurance Department.
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February 2005
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Maidlow, Steven Kenneth
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Cincinnati, OH
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Barred
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Maidlow caused $10,000 to be electronically transferred from a public customer's account and sent to the customer's deceased mother's estate checking account, without the customer's knowledge and consent, to resolve a shortfall in that account caused by Maidlow's failure to liquidate bonds the estate held in a timely fashion. The findings stated thatMaidlow prepared and sent to the customer documentation showing that the $10,000 previously removed from the customer's account had been returned when, in fact, ithad not. The findings also stated that Maidlow failed to respond to FINRA requests for information.
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December 2007
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Majano, Jr., Louis Steven
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Roslyn Heights, NY
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Complaint Filed
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Majano named as a respondent in a FINRA complaint alleging that he made unauthorized withdrawals from a public customer's account totaling $20,500 without the customer's knowledge or consent, and failed to respond to FINRA requests for information.
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April 2008
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Makris, Caliope
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Poland, Ohio
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Barred
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Makris affixed a public customer's signature to a disability application without noting that the application had been signed by someone other than the customer; thereby violating her member firm's prohibition against representatives signing documents on behalf of customers, even with the customer's consent.
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February, 2007
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Maldjian, Peter J.
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Brielle, New Jersey
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Complaint Filed
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Named as a respondent in an NASD complaint alleging that he, in order to open a brokerage account for a public customer, created a fictitious certificate of a formation for a purported limited liability company using the business filing number from another customer's certificate of formation, and replicated the New Jersey State Treasurer "filed" stamp. The complaint alleges that Maldjian submitted the fictitious certificate to his firm in an attempt to open the account, and prepared an account application that falsely identified the purported company as a limited liability company with a tax identification number that belongs to another company.
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February 2006
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Malito, Maria J.
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Unknown
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Censure, bar until she complies, to become permanent if she does not comply in three months.
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Failed to comply with the Exchange request to appear and testify.
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June 13, 2005
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Malkasian, Jeffrey Tatios
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Sacramento, California
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Barred
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Malkasian engaged in private securities transactions without prior written notice to, and approval from, his member firms. The findings stated that Malkasian received $798,000 from public customers to invest in a money market fund but, instead, used the funds to invest in business opportunities related to his accountancy business. The findings also stated that Malkasian failed to provide investors with any documentation evidencing their investment.
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July 2007
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Malloy, William Andrew
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Matthews, North Carolina
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Barred
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Malloy failed to perform branch audits and failed to conduct regular compliance reviews of trading activity in customer accounts as his firm's written supervisory procedures required.
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November 2006
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Maloney, Robert Thomas
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Buffalo, New York
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Barred
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Pursuant to NASD Rule 9552(h)
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July 2007
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Malvin, Reid Steven
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Glen Cove, 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 alleged that he conducted trades in a public customer's account on margin despite the fact that there was no margin agreement.
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April 2005
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Manhas, Vikram S.
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New York, New York
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Barred
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Manhas had a public customer unknowingly sign documents to open a securities account at another broker-dealer, transferred $240,000 from the customer's old account to the new account and submitted false documents to the new broker-dealer to transfer the customer's assets to Manhas' personal account.
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May 2007
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Manjarres, Jose Hernandez
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Lincolnton, North Carolina
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Barred
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He effected, or caused to be effected, transactions in the joint account of public customers without their authorization, knowledge or consent. The findings stated that Manjarres failed to appear for an NASD on-the-record interview.
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February, 2007
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Manns, David Brian
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Englewood, Florida
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Barred
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He forged the signature of a public customer on a "Fixed and Variable Annuity Disclosure" form that sought to ensure that the customer understood the costs associated with a fixed annuity exchange, including surrender and other costs for both the original and new annuity.
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February 2005
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Margossian,
George
|
Woodland
Hills, California
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Barred
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While acting as treasurer of a business
networking organization, he forged the signature of the organization’s
president on a company check, cashed the check and misappropriated $700 of
the organization’s funds.
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November
2005
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Marlow, Dennis Leslie
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Monument, Colorado
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Barred
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He created and distributed sales literature and advertisements without prior written approval from his member firm that omitted material facts and was misleading.
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June 2005
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Martin, Donald Cleygette
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Huntsville, AL
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Barred
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Martin made unauthorized withdrawals totaling $5,371 from a variable annuity a public customer owned, and converted the funds for his own use and benefit without the customer's knowledge or consent. The findings stated that Martin received $80,000 from the customer to purchase mutual fund shares and certificates of deposit but, instead, converted the funds for his own use and benefit, without the customer's knowledge or consent.
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September 2007
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Marsh, Kenneth Eugene
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Coral Springs, Florida
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Barred
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Marsh engaged in outside business activities without providing his member firm with notice, written or otherwise, and indicated on firm compliance forms that he was not engaged in, and had no intent to engage in, outside business activities. The findings stated that Marsh failed to respond to NASD requests for information.
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April 2007
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Martin, Edward Alan
|
Franklin, Tennessee
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Complaint Filed
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Named as a respondent in an NASD complaint alleging that he received $40,000 intended for investment advisory services from a public customer, deposited the check into a personal account without the knowledge or consent of either the customer or his member firm, and used the funds for business and personal expenses, thereby converting the funds to his own use and benefit. The complaint also alleges that Martin told his member firm that the customer had not renewed the advisory services agreement, but when confronted by his member firm, he remitted $40,000 to the firm. The complaint further alleges that Martin converted $6,000 belonging to his member firm by retaining the amount of the advisory fee to which the firm was entitled in excess of his compensation.
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January 2005
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Martin, Timothy Merrill
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Dayton, Ohio
|
Complaint Filed
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Named as a respondent in an NASD complaint alleging that he obtained funds from a public customer for his own use and benefit. The complaint alleges that he failed to adhere to the terms of a renegotiated promissory note.
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January 2006
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Martinez, Darwin Raul
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Queens Village, New York
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Barred
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He stole property worth $6,000 from public customers of his member firm.
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July 2005
|
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Martinous, Jeffrey Michael
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Quincy, Massachusetts
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1-Year Suspension
|
Martinous consented to the described sanctions and to the entry of findings that without a public customer's consent or authority, he sold the customer's mutual fund shares and used the proceeds to purchase shares of another fund. The findings stated that Martinous signed, or caused to be signed, the customer's signature on documents that were required to effect the mutual fund transaction.
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March, 2007
|
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Masceri, Gregory Roy
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Rochester, New York
|
Barred
|
Masceri forged public customers' signatures on insurance documents without the customers' authorization or consent. The findings also stated that Masceri responded untruthfully to NASD requests for information.
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March, 2007
|
|
Massey, Craig Edward
|
Rotonda West, FL
|
Barred
|
Massey willfully failed to amend his FormU4 to disclose a material fact. The findings stated that Massey failed to respond to FINRA requests for information.
|
January 2008
|
|
Matharu,
Malvinder Sonny
|
Redondo
Beach, California
|
Barred
|
He refused to provide testimony to NASD.
|
November
2005
|
|
Matsuda,
Clay Katsumi
|
Montebello,
California
|
Barred
|
He failed to respond to NASD requests for
documents and information.
|
September
2005
|
|
Mattes, Sr., William Dennis
|
Wheeling, IL
|
Barred
|
Mattes created an Automatic Teller Machine (ATM) card in the name of one of his customers and used it to make unauthorized withdrawals from the customer's accounts.
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February 2008
|
|
Matthews, Raymond Edward
|
Mansfield, TX
|
Barred
|
Matthews forged the public customers' signatures on life insurance applications and failed to respond to FINRA requests for testimony.
|
March 2008
|
|
Matz, Erik Joseph
|
Hicksville, New Jersey
|
Barred
|
Matz engaged in churning and excessive trading in publiccustomer accounts.
|
June 2007
|
|
Mauss, Robert Kurtis
|
Austin, Texas
|
Barred
|
He engaged in private securities transactions without providing prior written notice to his member firm. The findings also stated the he engaged in outside business activities and received compensation in connection with such activity without providing prompt written notice to his member firm.
|
July 2005
|
|
May, Roger Parker
|
Golden, Colorado
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1-Year Suspension
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May made an unsuitable recommendation to a public customer, and executed, or caused the execution of, unauthorized trading in the account of a public customer.
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August 2005
|
|
Mayer, Donald Gerard
|
Mason, Ohio
|
Barred
|
He engaged in private securities transactions, but failed to give written notice to his member firm and failed to receive written approval from his member firm, prior to engaging in such activities.
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February 2006
|
|
Mayo, Michelle Marie
|
Paw Paw, MI
|
1-Year Suspension
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Mayo falsified employment documents her member firm used to determine individuals' sales aptitude to become insurance agents and registered representatives.
|
November 2007
|
|
Mayol, Frank
|
Yonkers, New York
|
Barred
|
Mayol forged a public customer's signature on an IRA authorization for release of transfer of assets form without the customer's knowledge or authorization.
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August 2005
|
|
Mazzara, Peter Anthony
|
Chicago, Illinois
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Barred
|
Pursuant to NASD Rule 9552(h)
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November 2006
|
|
McBee, Stacey Joe
|
Suwanee, Georgia
|
Barred
|
McBee opened a securities account with another NASD member firm and failed to disclose to that firm that he was associated with his member firm. The findings stated that he failed to give his member firm written notification that he opened a securities account with another member firm. The findings also stated that McBee engaged in outside business activities, for compensation, without giving his member firm prompt written notice of his outside business activities. The findings further stated that McBee failed to respond to NASD requests for information and documents.
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August 2006
|
|
McCaffrey, Kevin J.
|
Unknown
|
Consent to censure, a total penalty of $120,001 and a 15 month supervisory suspension.
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Violated Exchange Rules 342 and 476(a)(6) by failing to supervise the activities of a Firm analyst during the period in which he published fraudulent and misleading research on certain telecommunications companies.
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May 5, 2005
|
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McCaffrey, Mark Edward
|
Rockville, Maryland
|
Barred
|
He received a check totaling $500,000 from a public customer for investment purposes, deposited the check to a personal bank account, and used the funds for his own benefit. NASD also found that McCaffrey failed to respond to NASD requests for information.
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