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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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Nadel, Elliott
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Bayside, New York
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Barred
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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.
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May 2006
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Nagel, Marcus Kalman
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New York, New York
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Barred
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Nagel improperly used customer funds when he commingled customer funds, intended for the customer's securities account, with his own funds.
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March 2005
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Nallie,
Lawrence
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New
Albany, Ohio
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Barred
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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.
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February 2006
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Naron, Charles William
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Lake Worth, Florida
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Barred
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He engaged in outside business activities for compensation without providing his member firm with prompt written notice.
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February 2006
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Natale, Nicholas Anthony
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Delray Beach, FL
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Barred
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Natale failed to ensure that his ember firm complied with the Taping Rule requirements under NASD Rule 3010(b)(2). The findings stated that Natale failed to ensure that firm research analysts had passed the qualifying examinations before they published research reports. The findings also stated that Natale failed to file amended Forms U4 for registered
representatives of the firm in response to written customer complaints the firm received. The findings also included that Natale failed to report, or to timely report, customer complaints to FINRA.
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November 2008
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Naventi, Mary Ann
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New Milford, Connecticut
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Barred
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Naventi falsely notarized the signatures of persons on deeds and a mortgage document without having actually witnessed the signatures.
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November 2006
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Nay, II, Daniel William
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Galion, OH
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Barred
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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.
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January 2008
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Neace, Jeffrey Earl
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Waynesville, OH
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Barred
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Neace failed to respond to FINRA requests for information, documents and to provide testimony.
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September 2008
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Neal, San Sana
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Beaverton, Oregon
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Barred
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Neal willfully failed to disclose material information on his Form U4.
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June 2006
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Neely, Kenneth George
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St. Louis, MO
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Barred
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FINRA found that Neely conducted an elaborate Ponzi scheme, fraudulently inducing at least 25 brokerage customers, family and fellow church members to participate in a fictitious "St. Louis Investment Club" and to invest in the non-existent real estate investment trust, the "St. Charles REIT." In total, Neely improperly used over $600,000 in investors' assets, returned about $300,000 of the funds back to some of the investors and thus converted more than half of this amount to his own personal use.
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September 2009
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Nelson, Susan Jayne
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Houston, TX
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Barred
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Nelson consented to the described sanction and to the entry of findings that she falsified account-related documents by whiting out information, taping over dollar amounts, writing dates and dollar amounts in pencil, tracing signatures, and cutting and pasting signatures. The findings stated that Nelson submitted the falsified documents to her member firm as authentic. The findings also stated that Nelson failed to respond to a FINRA request to appear for an on-the-record interview. (FINRA Case #2008014015401)
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December 2009
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Nemanich, Henry Paul
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Boca Raton, FL
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Barred
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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.
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January 2008
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Nenoff, Timothy E.
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Wheaton, IL
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Barred
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Nenoff 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, Nenoff consented to the described sanction and to the entry of findings that he wrote checks from his checking account totaling $660 even though he knew that he had inadequate funds in the account to clear the checks, deposited the checks into his savings account, and withdrew most of the funds by ATM. The findings stated that Nenoff admitted to FINRA in writing that he engaged in check kiting. The findings also stated that Nenoff failed to respond to FINRA requests for information. (FINRA Case #2008012437501)
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January 2010
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Nepakharev,
Rudolf
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Brooklyn,
New York
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Barred
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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.
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October
2005
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Nestor, Ryan Matthew
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Marblehead, MA
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Complaint Filed
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Nestor was named as a respondent in a FINRA complaint alleging that he wrongfully converted $760,000 from elderly customers by forging the customers' or trustees' signatures on wire transfer forms without their consent or authorization, and causing the unauthorized withdrawal of funds from the customers' accounts to a third party account. The complaint alleges that Nestor failed to respond to FINRA requests for information. (FINRA Case #2008012540201)
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January 2010
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Nettles, Frieda Mae
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Apex, NC
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Barred
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Nettles failed to respond to FINRA requests for documents and information.
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July 2008
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Newell, Nora Lynn
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Chattanooga, Tennessee
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Barred
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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.
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August 2006
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Newman, Steve T.
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San Antonio, TX
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Barred
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Newman received insurance premium payments from an insurance client, in the aggregate amount of $24,353, and rather than depositing the checks in an account for his member firm or submitting them to the firm, he deposited the checks into an account over which he maintained control and thereafter misappropriated the funds, using a portion of the
funds for his own use and benefit. The findings stated that Newman failed to appear for a FINRA on-the-record interview.
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July 2009
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Newman, Todd Michael
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Royal Palm Beach, Florida
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Barred
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Pursuant to NASD Rule 9552(h)
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August, 2006
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Newton, Shellie Lin
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Trenton, FL
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Barred
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Newton submitted a Letter of Acceptance, Waiver and Consent in which she was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Newton consented to the described sanction and to the entry of findings that she used her position as an operations manager to misappropriate more than $10,000 from her member firm. The findings stated that Newton entered false deposit amounts into her brokerage account at her firm, thereby creating artificial balances in the account, Transferred money from the brokerage account to her personal checking account, and used the funds for personal purposes. The findings also stated that, in an attempt to conceal the false deposits, Newton deposited checks into her brokerage account and made an online transfer knowing at the time that her checking account lacked funds to cover the checks, and used an ATM to intentionally enter an amount to be deposited that was greater than the check included with the deposit. The findings also included that Newton, by knowingly entering fictitious deposit amounts into her brokerage account at her firm, created artificial balances in it and caused her firm's books and records to be false. (FINRA Case #2008014143701)
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January 2010
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Nichols, Michael
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Far Hills, NJ
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Barred
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Nichols engaged in improper trading on the Floor of the NYSE and violated his obligations as a specialist to hold the interest of public customer orders entrusted to him above the proprietary interests of his member firm and himself, and to match executable customer orders.
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July 2008
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Nicolas, Jericho Guazon
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San Francisco, CA
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Barred
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The National Adjudicatory Council (NAC) imposed the sanctions following appeal of an Office of Hearing Officers (OHO) decision. The findings stated that Nicolas participated in a fraudulent scheme to trade ahead of customers' orders and reap risk-free trading profits; made material omissions in communications with a public customer; and caused the member firm to issue false trade confirmations.
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June 2008
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Nicolosi, Michael Anthony
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Bronx, NY
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Barred
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Nicolosi was barred from association with any FINRA member in any capacity. The sanction was based on findings that Nicolosi willfully failed to disclose material information on his Form U4. (FINRA Case #2008012516401)
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October 2009
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Nierenberg, Kenneth Stuart
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Central Valley, NY
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Barred
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Nierenberg, without authorization or consent, converted elderly public customers' funds totaling $92,469.22 for his own benefit. The findings also stated that Nierenberg willfully failed to disclose material information on his FormU4.
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February 2009
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Niess, Paul Andrew
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Bartlett, IL
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Barred
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Niess participated in private securities transactions without
prior written notice to, or written approval from, his member firm. The findings stated that Niess borrowed $405,000 from public customers in violation of his firm's written supervisory procedures, which prohibited registered representatives from "making loans to or accepting loans from customers."
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August 2008
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Nociforo,
Philip John
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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.
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January
2006
|
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Nockold, Thomas Martin
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Cypress, California
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Barred
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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.
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May 2005
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Nolfo, Louis Michael
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Boca Raton, FL
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Barred
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Nolfo, while exercising control over customers' accounts, recommended securities transactions without having reasonable grounds for believing the transactions were suitable in view of the
size and frequency of the transactions, the nature of the account and the customers' financial situation, investment objectives and needs.
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February 2009
|
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Nord, Brian Robert
|
Deer Park, IL
|
Barred
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Nord loaned to or borrowed from firm customers amounts ranging from$4,000 to $500,000, sometimes on more than one occasion, without his member firm's written approval in accordance with the firm's written procedures. The findings stated that Nord engaged
in an outside business activity, for compensation, without prompt notice, written or otherwise, to his member firm, and failed to respond to a FINRA request to appear for an on-the-record interview.
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February 2009
|
|
Nordquist, Paula Ludwig
|
Largo, FL
|
Barred
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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
|
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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.
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December
2005
|
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Nowak, Christopher Daniel
|
Lincoln, RI
|
Barred
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Nowak forged his spouse's name on mortgage documents to secure loans totaling $273,500.
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August 2008
|
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Nugent, Patrick Orvil
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Sunnyvale, California
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Barred
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Nugent participated in private securities transactions for compensation without providing prior written notice to, and receiving written approval from, his member firm.
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May 2006
|
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Nussbaum, Brad Niel
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West Orange, NJ
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Barred
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Nussbaum failed to respond to FINRA requests for documents and information.
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July 2009
|
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Nuzzi, Erasmo F. (Jr.)
|
Unknown
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Censure and permanent bar.
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Violated Exchange Rule 477 by failing to comply with request for testimony.
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January 26, 2005
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