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Name

Residence

What

Why

Date

Nadel, Elliott

Bayside, New York

Barred

Nadel transferred approximately $80,000 from a public customer's account to a second account without the customer's knowledge, authorization or consent. The findings stated that $46,760.08 was transferred from the second account to a third account Nadel managed and controlled, and a $59,000 check payable to Nadel was drawn from this account. The findings also stated that Nadel failed to respond to NASD requests for information. Nadel ordered to pay a public customer $46,760.08, plus interest, in restitution.

May 2006

Nagel, Marcus Kalman

New York, New York

Barred

Nagel improperly used customer funds when he commingled customer funds, intended for the customer's securities account, with his own funds.

March 2005

Naif, Robert Patrick

Riverside, California

2-Year Suspension

He willfully failed to disclose material information on his Form U4.

February 2006

Nakaoka, Clyde

Ontario, California

1-Year Suspension

He willfully failed to amend his Form U4 to disclose a material fact.

March 2006

Nallie, Lawrence

New Albany, Ohio

Barred

He misused public customers' funds. The findings stated that he engaged in outside business activities and failed to provide his firm with prompt written notification of his activities.

February 2006

Naron, Charles William

Lake Worth, Florida

Barred

He engaged in outside business activities for compensation without providing his member firm with prompt written notice.

February 2006

Nauman, Thomas Garth

Kamuela, Hawaii

Complaint Filed

He was named as a respondent in an NASD complaint alleging that he effected, or caused to be effected, excessive securities transactions in public customers' accounts without having a reasonable basis for believing that these recommendations were suitable in light of the customers' investment objectives, financial situations and needs. The complaint alleges that Nauman, directly or indirectly, by the use of the means or instrumentalities of interstate commerce or of the mails, knowingly or recklessly used or employed, in connection with securities transactions, 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 also alleges that Nauman executed unauthorized securities transactions in public customers' accounts.

May 2006

Naventi, Mary Ann

New Milford, Connecticut

Barred

Naventi falsely notarized the signatures of persons on deeds and a mortgage document without having actually witnessed the signatures.

November 2006

Nay, II, Daniel William

Galion, OH

Barred

Nay participated in private securities transactions, for compensation, and failed to give written notice to, and receive written approval from, his member firm prior to engaging in the transactions.

January 2008

Neal, San Sana

Beaverton, Oregon

Barred

Neal willfully failed to disclose material information on his Form U4.

June 2006

Nemanich, Henry Paul

Boca Raton, FL

Barred

Nemanich misused public customer funds, in that he wired $2,665,000 from the bank account for a limited liability limited partnership he controlled to his personal checking account, and used the proceeds contrary to the representations made to the customers in a private placement memorandum.

January 2008

Nemetz, Kenneth James

The Woodlands, Texas

Complaint Filed

He was named as a respondent in an NASD complaint alleging that he received a $23,000 check payable to him from public customers for investment purposes, but Nemetz endorsed the customers’ check and deposited it into a bank account that he controlled without the customers’ knowledge, authorization or consent.

September 2005

Nepakharev, Rudolf

Brooklyn, New York

Barred

He made material misrepresentations about a company’s securities and failed to disclose material, adverse facts that he was or should have been aware of, including the company’s financial condition. The findings stated that he made statements about the company and its business, including stock price projections and guarantees, for which he had no basis.

October 2005

Newell, Nora Lynn

Chattanooga, Tennessee

Barred

Newell consented to the described sanction and to the entry of findings that she borrowed funds totaling $45,000 from public customers and to fund these loans, she recommended and executed the liquidation of various mutual fund holdings in the customers' accounts. The findings stated that Newell falsely represented to the customers that the funds would be used for real estate investments and she would pay the loans with interest. The findings also stated that Newell never made any principal or interest payments on the loans. The findings also included that Newell did not have reasonable grounds for believing that the recommendation to liquidate and the resultant mutual fund sale transactions were suitable for the customers based on their financial situations, investment objectives or needs. In addition, NASD determined that Newell failed to respond to NASD requests for information.

August 2006

Newman, Mason David

Los Angeles, California

1-Year Suspension

he directly or indirectly, in connection with the offer or sale of securities, by the use of means or instrumentalities of interstate commerce or the mails, employed devices, schemes, or artifices to defraud; made untrue statements of material fact 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; or engaged in acts, practices or business courses of which operated or would operate as a fraud or deceit upon purchasers or prospective purchasers.

January 2006

Newman, Todd Michael

Royal Palm Beach, Florida

Barred

Pursuant to NASD Rule 9552(h)

August, 2006

Nociforo, Philip John

Sound Beach, New York

Barred

In an attempt to deceive his member firm and evade state law, he falsified public customers’ variable life insurance applications to indicate that they did not have other life insurance coverage, and completed the Definition of Replacement form to reflect that the new policies were not replacing existing life insurance coverage. NASD found that he received checks totaling $16,050.46 from public customers to fund their variable life insurance policies, but deposited these checks into his personal bank account, made initial premium payments totaling $6,020.75 and never forwarded the remaining funds to his member firm as the customers intended, nor did he return the money to the customers, thereby converting the remaining $10,029.71 for his own personal use and benefit without the customers’ authorization, knowledge or consent.

January 2006

Nockold, Thomas Martin

Cypress, California

Barred

He engaged in a scheme to misappropriate funds of his employer totaling $5,870. The findings also stated that Nockold falsified documents to conceal his actions.

May 2005

Nolfo, Louis Michael

Boca Raton, FL

Complaint Filed

Nolfo was named as a respondent in a FINRA complaint alleging that in connection with the purchase or sale of securities, he exercised control over public customers' accounts, churned the accounts and effected numerous and excessive securities transactions in the accounts. The complaint alleges that Nolfo, directly or indirectly, in connection with the purchase or sale of securities, by the use of means or instrumentalities of interstate commerce, or of the mails, employed devices, schemes or artifices to defraud; made untrue statements of material fact or omitted to state material facts necessary to make the statements made, in light of the circumstances under which they were made, notmisleading; or engaged in acts, practices or courses of business that operated, or would operate, as a fraud or deceit upon any person; or effected transactions in, or inducedthe purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance. The complaint also alleges that Nolfo used unsuitable margin levels in a customer's account in a manner that was reckless and inconsistent with the customer's objectives, financial situation and needs. The complaint further alleges that Nolfo failed to adequately and properly supervise the trading activity of a registered representative who engaged in excessive and unsuitable transactions.

March 2008

Nordquist, Paula Ludwig

Largo, FL

Barred

Nordquist effected unauthorized withdrawals totaling $3,500 from a public customer's bank account and used the funds for her own use and benefit.

April 2008

Norris, Shannon Lee

Coconut Creek, Florida

Barred

The sanctions were based on the findings that the respondent, 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

Nugent, Patrick Orvil

Sunnyvale, California

Barred

Nugent participated in private securities transactions for compensation without providing prior written notice to, and receiving written approval from, his member firm.

May 2006

Nuzzi, Erasmo F. (Jr.)

Unknown

Censure and permanent bar.

Violated Exchange Rule 477 by failing to comply with request for testimony.

January 26, 2005




   
 
 
 
 



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Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm Shaheen, Novoselsky, Staat, Filipowski & Eccleston P.C.(www.snsfe-law.com). This Web site contains material of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice. Always consult an attorney and/or investment advisor when building and protecting your wealth.

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