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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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Racusen,
Robert Mark
|
Buffalo
Grove, Illinois
|
Barred
|
He effected transactions in a public
customer’s account without the customer’s knowledge or consent and in the
absence of written or oral authorization to exercise discretion in the said
account.
|
December
2005
|
|
Radez, Eric Richard
|
Indianapolis, Indiana
|
Barred
|
Radez engaged in an outside business activity, for compensation, without prompt written notice to his member firm. The findings stated that Radez provided false testimony during an NASD on-the-record interview.
|
July 2007
|
|
Radez, Richard William
|
Brownsburg, Indiana
|
Barred
|
Radez consented to the described sanction and to the entry of findings that he employed fraudulent sales practices in the course of recommending and selling the common stock of an unseasoned OTCBB security. The findings stated that when Radez recommended purchases of the security, he made false representations and omissions of material facts as well as baseless and unrealistic price projections. The findings also stated that Radez recommended the security without reviewing the company's available current publicly filed financial statements and current material business information, and without determining if there was a reasonable basis for the recommendation. The findings also included that Radez made unauthorized purchases of the security in public customers' accounts. NASD found that Radez engaged in a business activity outside the scope of his relationship with his member firm and failed to provide written notice to his firm. NASD also found that Radez failed to respond to NASD requests for documents and to testify truthfully in NASD on-the-record interviews.
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July 2006
|
|
Ramey, Alethea Outing
|
Charlotte, NC
|
Barred
|
Pursuant to NASD Rule 9552(h)
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December 2007
|
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Ramsundar, Bhola
|
Floral Park, New York
|
1-Year Suspension
|
He falsified an Electronic Funds Transfer ("EFT") form for the variable life insurance account of public customers.
|
March 2005
|
|
Randa,
Gary Allen
|
Oswego,
Illinois
|
Barred
|
He fraudulently obtained a public customer’s
checkbook without the consent or knowledge of the customer. The findings
stated that he forged the customer’s signature on deposit slips and checks
totaling $60,500, made them payable to himself and deposited the funds in his
bank account, thereby converting the customer’s funds to his own use and
benefit.
|
October
2005
|
|
Raney, Jonathan Charles
|
Akron, Ohio
|
Barred
|
He induced public customers who received rebate checks from his member firm to send checks payable to Raney, claiming he was owed 10% of the rebate for lost commissions, or that the funds were needed to pay for attorney fees incurred as a result of obtaining the rebates. The findings stated that Raney induced customers to send him checks by falsely claiming that fees were owed for compliance with the "Privacy Act," the "Patriot Act," or that new annual fees were due for various administrative reasons. The findings also stated that Raney made the claims knowing them to be false, cashed the checks, and converted $4,370 for his personal benefit.
|
May 2006
|
|
Ranfeld, Gary Lynn
|
Kalamazoo, MI
|
Barred
|
Ranfeld borrowed $34,120 from public customers in contravention of his member firm's written supervisory procedures specifically prohibiting borrowing money from customers, without exception. The findings stated that Ranfeld failed to respond to FINRA requests for information.
|
February 2008
|
|
Ranhofer, John Francis
|
Valencia, California
|
Barred
|
He participated in a private securities transactions without providing prior written notice to or receive approval from his member firm. The findings also stated that Ranhofer engaged in outside business transactions and failed to give prompt notice of these activities to his member firm.
|
July 2005
|
|
Razzouk, Oscar R.
|
West Orange, New Jersey
|
Censure and a permanent bar
|
Razzouk failed to disclose his prior criminal history on an employment application submitted to his member firm and failed to comply with one or more written requests by NYSE Regulation for information concerning a matter that occurred prior to the termination of his employment with his member firm employer.
|
March, 2007
|
|
Rauh, Douglas Alan
|
Laguna Niguel, California
|
Barred
|
He willfully failed to disclose material information on his Form U4. NASD found that Rauh exercised discretion in the public customers' accounts without receiving their prior written authorization to exercise such discretionary power and without receiving his member firm's acceptance of the discretionary account. The findings stated that Rauh recommended and effected securities transactions in a public customer's account without having reasonable grounds for believing that such transactions were suitable for the customer in view of the size, frequency, concentration of the speculative securities, and nature of the recommended transactions, and in light of the customer's financial situation, investment objectives, circumstances and needs. The findings also stated that Rauh, while exercising control over a public customer's account, executed options trades without reasonable grounds for believing that the customer was capable of evaluating the transactions' risks; was financially able to bear the risks of the recommendations; and the trades were not suitable.
|
February 2006
|
|
Ray, Daniel Peter
|
Rocky Point, New York
|
Barred
|
He made improper use of customer funds, in that he cashed money orders intended to purchase securities that were erroneously made out to him instead of his member firm, and them provided the proceeds to another registered representative so that the representative could satisfy gambling debts.
|
September. 2006
|
|
Raymer,
Rita Nell
|
Sweeden,
Kentucky
|
Barred
|
She recommended and effected securities
transactions in the accounts of public customers without having a reasonable
basis for believing the transactions were suitable based upon customers’
investment objectives, financial situations, and needs. The findings stated
that Raymer made misrepresentations and omitted material facts in the sale of
variable annuity contracts to public customers with the intent of deceiving
the customers or with reckless disregard for the truth.
|
October
2005
|
|
Raymond, Heather Anne
|
Bethel, Connecticut
|
Barred
|
She altered her copy of her test report for the Series 7 General Securities Representative exam to reflect a passing grade and provided a copy of the falsified test report to her member firm in an attempt to convince them she had qualified as a general securities representative.
|
February 2005
|
|
Raymond, Royce Joseph
|
Baraboo, Wisconsin
|
Barred
|
He participated in private securities transactions without providing his member firm with prior written notices, and without receiving written acknowledgement of those notices from his member firm.
|
June 2006
|
|
Regano, Philip Leighton
|
Boardman, Ohio
|
Barred
|
Regano consented to the described sanction and to the entry of findings that he received $619,584.87 from public customers to purchase fixed annuities but failed to follow instructions and used the funds for some purpose other than the customers' benefit. The findings stated that Regano created fictitious statements that lulled the customers into believing that their funds were used for their intended purpose. The findings also stated that Regano engaged in private securities transactions without providing prior written notice to his member firm and obtaining written approval from the firm.
|
August 2006
|
|
Regis, David Allen
|
Arlington, Texas
|
Barred
|
He failed to respond to NASD requests to appear and give testimony. The findings also stated that he engaged in private securities transactions without prior written notice to his member firm describing the proposed transaction, his proposed role in the transaction, and stating whether he had received, or might receive, compensation. NASD also found that he was never registered as a general securities representative and that the payphone investment contracts he sold to public customers did not fall within any of the permissible categories he was allowed to sell.
|
January 2005
|
|
Reisinger,
James David
|
Dexter
Michigan
|
Barred
|
He engaged in unauthorized trading by
failing to follow their clients’ instructions. The findings also stated that
the respondents recommended transactions to public customers that were
unsuitable.
|
January
2006
|
|
Reitz, Matthew D.
|
Lodi, California
|
Barred
|
Pursuant to NASD Rule 9552 (h)
|
September 2005
|
|
Relihan, Michael David
|
Wichita, Kansas
|
Barred
|
Relihan was barred from association with any NASD member in any principal capacity. Without admitting or denying the allegations, the firm and Relihan consented to the described sanctions and to the entry of findings that the firm, acting through Relihan, failed to file its annual audited report in a timely manner. The findings also stated that the firm, acting through Relihan, used the instrumentalities of interstate commerce to conduct a securities business while failing to maintain its minimum net capital and failed to prepare accurate net capital computations. NASD also found that the firm, acting through Relihan, filed a late FOCUS report.
|
July 2005
|
|
Resciniti, Michael James
|
Sound Beach, New York
|
Complaint Filed
|
He was named as a respondent in an NASD complaint alleging that he effected, or caused to be effected, transactions in a public customer's account without the customer's prior knowledge, authorization or consent.
|
March, 2007
|
|
Restrepo,
Ignacio Leon (Jr.)
|
Corona,
New York
|
Barred
|
He converted $34,101 by making unauthorized
withdrawals from the bank accounts of public customers that were linked to
their brokerage accounts at Restrepo’s member firm.
|
September
2005
|
|
Reyes, Claudia
|
Los Lunas, NM
|
Barred
|
Reyes received more than $3,000 from customers of an insurance company affiliate of her member firm. Reyes either failed to forward the full amount of the customers' paymentsor did not forward any of the payments to the insurance company affiliated with her member firm. The findings stated that Reyes acted without the customers' knowledge and consent, thereby improperly using customer funds.
|
October 2007
|
|
Reynoir, Vance Greenslit
|
New Orleans, Louisiana
|
1-Year Suspension
|
Reynoir failed to take appropriate action to supervise an individual to prevent violations of, and achieve compliance with, applicable securities laws, regulations and NASD rules.
|
December 2006
|
|
Reynolds, Derek J.
|
Tualatin, Oregon
|
2-Year bar and permanent supervisory bar
|
He improperly altered or caused to be altered records of his firm by adding, deleting or changing information, adding signatures and/or backdating documents and improperly destroyed documents; violated NYSE Rule 342 in that he failed to reasonably supervise and control the activities of the employees in his branch office, and caused a violation of NYSE Rule 440 and Section 17(a) of the Securities Exchange Act of 1934 and Rule 17a-4 thereunder by destroying certain books and records and failing to preserve other books and records accurately
|
November 2006
|
|
Reynolds, Michael B.
|
Lighthouse Point, Florida
|
Barred
|
He stole a check from his supervisor, forged the supervisor's signature on the check, and converted the funds to his own use and benefit without his supervisor's knowledge or authorization.
|
April 2005
|
|
Reynolds, Robert Arnold
|
New London, CT
|
Barred
|
Reynolds failed to respond to FINRA requests for information.
|
January 2008
|
|
Rhee, Peter
|
Garfield, New Jersey
|
Complaints Filed
|
He was named as a respondent in an NASD complaint alleging that he caused purchase and sales transactions in public customers' accounts without their authorization or consent. The complaint also alleges that Rhee failed to respond to NASD requests for information and to appear for an on-the record interview.
|
April 2006
|
|
Rhoades, Jack Lee
|
Goshen, Indiana
|
Barred
|
Rhoades engaged in a check kiting scheme in which he wrote checks totaling $40,100 on a bank account that exceeded the funds available in the account.
|
June 2006
|
|
Rhoads, Stephen Michael (Sr.)
|
Wyckoff, New Jersey
|
Barred
|
He received checks totaling $3,677.42 from a public customer for investment purposes, deposited the checks into his own personal account, and personally paid the initial premium for the customer's disability insurance policy with a cashier's check. The findings stated that Rhoads set up a pre-authorization check premium payment service (PAC) to arrange for automatic monthly withdrawals from his personal account to pay the premium on the customer's policy, without the customer's knowledge, authorization, or consent. The findings also stated that because the PAC had insufficient funds to make the automatic premium payments, the disability policy lapsed due to nonpayment.
|
August 2005
|
|
Ricca, David Alexander
|
Clifton, NJ
|
Barred
|
Ricca received $25,000 from a public customer for investmentpurposes and failed to invest the funds as directed, thereby converting the funds to his own use and benefit. The findings stated that Ricca borrowed $25,000 from a public customer in contravention of his member firm's written policies and procedures, prohibiting employees from borrowing money from customers. The findings also stated that the firm was not aware of, and did not approve Ricca's loan from the customer. The findings also included that Ricca failed to respond to FINRA requests for information.
|
November 2007
|
|
Rich, Bruce Elliot
|
Boca Raton, Florida
|
Barred
|
He used and employed deceptive, fraudulent, and manipulative devices and contrivances involving the solicitation, purchase, and sale of the common stock of highly speculative OTC equity securities to unsuspecting public customers. In addition, NASD found that he egregiously failed to supervise the sales activities and conduct of Florida Discount's registered representatives and associated persons. The findings also stated that Rich failed to respond to NASD requests for information.
|
April 2005
|
|
Richardson, Barton Lee
|
Lebanon, Ohio
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
February, 2007
|
|
Richard, John Francis (Jr.)
|
Pembroke, Massachusetts
|
Barred
|
As director of recruiting for a branch office of his member firm, he created false firm recruiting profiles for individuals using firm customer social security numbers.
|
February 2005
|
|
Richardson, Jeffrey
|
Columbus, OH
|
Barred
|
Sierra Brokerage Services president and head trader, who settled charges that he participated in an unlawful distribution of unregistered shares, generating millions of dollars for offshore entities controlled by the two individuals who owned and operated the Yankee Brooklyn branch office
|
February 2005
|
|
Richmond, Scott Paul
|
Leawood, Kansas
|
Barred
|
He misused the funds of public customers totaling $100,742.59 without the knowledge, consent, or authorization of the customers.
|
January 2005
|
|
Richmond,
Stephen Craig
|
Wellington,
Florida
|
Barred
|
He engaged in private securities
transactions without providing prior written notice to his member firm.
|
November
2005
|
|
Rieger, Chaim
|
Unknown
|
Consent to censure and two year bar past the period of statutory disqualification
|
Failed to disclose his prior criminal convictions, which made him subject to statutory disqualification.
|
August 24, 2005
|
|
Riehle, Charles Duke
|
Cedar Falls, Iowa
|
Barred
|
He accepted a check for investment purposes from a public customer and misused the funds. The findings stated that he failed to respond to NASD requests for information.
|
February 2006
|
|
Riely, Terrence Paul
|
San Antonio, TX
|
Barred
|
Riely engaged in outside business activities and failed to provide prompt written notice to his member firm. The findings stated that Riely failed to respond to NASD requests for information.
|
September 2007
|
|
Ringer, Terry Lee
|
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