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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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Saad, John Michael Elias
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Atlanta, GA
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Barred
|
Saad was barred from association with any FINRA member in any capacity. The NAC imposed the sanction following appeal of an OHO decision. The sanction was based on findings that Saad submitted false expense reimbursement reports and receipts to his member firm's parent company, which resulted in $1,144 in payments that were made to him, to which he was not entitled, thereby misappropriating firm funds. This decision has been appealed to the SEC, and the bar is in effect pending consideration of the appeal. (FINRA Case #2006006705601)
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January 2010
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|
Sabia-Florence, Doria
|
Statesboro, GA
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Barred
|
Sabia-Florence completed and forged Letters of Authorization
(LOAs) instructing her member firm to transfer funds totaling $85,100 from various customers' accounts to a firm account her relatives owned, without the customers' authorization. The findings stated that Sabia-Florence received checks totaling $74,000 from her relatives' account and used the funds for her own benefit. The findings also stated that Sabia-Florence fraudulently induced a customer to give her $30,000,
representing that she would use the funds to purchase a bond for the customer's account but, instead, deposited the funds directly into her bank account and used the funds for her personal benefit.
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April 2009
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Sabo,
William Randal
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Gibsonia,
Pennsylvania
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Barred
|
He withdrew $86,000 from a public customer’s
bank account and used the funds for his own purposes without the
authorization or consent of customer.
|
September
2005
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Sadowski, Jr., John Thomas
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Daytona Beach, FL
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Barred
|
Pursuant to NASD Rule 9552(h)
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December 2008
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Sahli, Patrick James
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Taft, California
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Barred
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He engaged in a scheme to convert funds, and converted customer funds for his own use and benefit without the customers' knowledge, authorization, or consent.
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June 2005
|
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Sahni, Inderbir Singh
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New York, NY
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Barred
|
Pursuant to NASD Rule 9552(h)
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July 2008
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Sahni, Soena
|
Howell, New Jersey
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Barred
|
Sahni consented to the described sanction and to the entry of findings that she willfully failed to disclose material information on her Form U4.
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February, 2007
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|
Salaverria, Dulce Maria
|
Maracaibo, Venezuela
|
Barred
|
She submitted a falsified examination score report to her employing member firm.
|
May 2005
|
|
Saleh, Debbie Michelle
|
Calabasas, CA
|
Complaint Filed
|
Saleh was named as a respondent in a FINRA complaint alleging that she made recommendations to customers without reasonable grounds for believing that the recommendations and resultant transactions were suitable for the customers on the basis of information she knew about their other security holdings and their financial situations and needs, including but not limited to, undue concentration and risk of loss of principal.
|
May 2009
|
|
Salzgeber, Jason Robert
|
Columbus, OH
|
Barred
|
Salzgeber signed a customer's signature on a term life conversion form without the customer's knowledge, authorization or consent, and submitted it to the issuer, which
caused the customer's term life insurance policy to be converted to a whole life insurance policy.
|
July 2009
|
|
Samei, Robert Ahmad
|
Dallas, TX
|
Barred
|
Samei failed to respond to FINRA requests for information.
The findings stated that Samei willfully failed to disclose material information on his Form U4. (FINRA Case #2007010925001)
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August 2009
|
|
Samson, Marcelo S.
|
Fountain Valley, California
|
Barred
|
Samson willfully failed to amend his Form U4 to disclose material facts. The findings stated that Samson failed to respond to NASD requests for information.
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September, 2006
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Sanchez, Raquel Mae Sabando
|
Miami, FL
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Barred
|
Sanchez failed to appear for FINRA on-the-record interviews.
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August 2008
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|
Sanders, Zelman III
|
East St. Louis, Illinois
|
Barred
|
Sanders failed to respond to NASD requests for information. The findings stated that Sanders failed to disclose material facts on his Form U4.
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September, 2006
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|
Sandifur, Cantwell Paul (Jr.)
|
Spokane, Washington
|
Barred
|
He registered representatives of a member firm, under his direction and control, engaged in fraudulent and deceptive sales practices by making material misrepresentations and omitting material facts with the sale of proprietary products to public customers without an adequate basis for recommending the proprietary products to customers for whom the sales were unsuitable. The findings also stated that Sandifur and the firm's compliance officer spent the majority of their time working as officers and/or directors of affiliated companies, and the compliance officer delegated his responsibilities to others who were unqualified, inexperienced, and unable to perform the delegated tasks due to insufficient staffing. NASD also found that Sandifur knew, or should have known, that the compliance officer and the supervisor of all the registered representatives were not effectively discharging their responsibilities. In addition, NASD found that Sandifur, as president of the firm, was responsible for establishing an effective supervisory system at the firm, but the firm's supervisory system was not reasonably designed to achieve compliance with applicable securities laws, regulations, and NASD rules regarding monitoring the sales activities and recommendations of registered representatives; was not reasonably designed to achieve compliance training for sales presentations of proprietary products; and did not provide guidance concerning the risk level and suitability of proprietary products for investors with a low to medium risk tolerance and/or preservation of capital as a primary investment objective.
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January 2005
|
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Sanducci, David Joseph
|
Brooklyn, New York
|
Barred
|
Sanducci consented to the described sanction and to the entry of findings that, acting individually and as a member of a sales group, he participated in a fraudulent scheme to sell shares of a security to public customers, utilizing classic, boiler-room techniques to induce customers to purchase the security and to dissuade them from selling it. The findings stated that Sanducci used high-pressure sales pitches, material misrepresentations, omissions of fact and unauthorized transactions in customer accounts. The findings also stated that Sanducci failed to provide customers with disclosures concerning the risks associated with investing in penny stocks. NASD found that Sanducci provided false and misleading sworn testimony denying his role at the member firm.
|
May 2006
|
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Sanpietro, Mark J.
|
Lincroft, NJ
|
Barred
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Sanpietro affixed a public customer's signature to a wire transfer authorization letter without the customer's authorization or consent. The findings stated that Sanpietro submitted false responses and a backdated document in response to FINRA's requests for information.
|
November 2007
|
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Santanelli, Christopher John Rocco
|
Massapequa, New York
|
Barred
|
Santanelli failed to complete an NASD on-the-record interview and failed to respond to NASD requests for information. The findings also stated that Santanelli failed to amend his Form U4 to disclose material facts, and engaged in a pattern of trading activity in public customers' accounts that was excessive in light of the customers' objectives, financial situations and needs.
|
December 2006
|
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Santos, Yajaira
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Carolina, Puerto Rico
|
Barred
|
Yajaira 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, Santos consented to the described sanction and to the entry of findings that she completed and submitted a $7,000 credit advance request on a bank line of credit belonging to a firm customer without his knowledge or consent. The findings stated that the bank processed the request, issued a $7,000 check made payable to the customer which Santos retrieved, endorsed the check and deposited the funds into a separate bank account over which she had signature authority. The findings also stated that Santos later covered the line of credit advance by initiating unauthorized securities sales in the customer's securities account. (FINRA Case #2008015473301)
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January 2010
|
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Sassano, Michael
|
Miramar Beach, FL
|
Barred
|
On appeal, the Board of Directors (the "Board") of NYSE Regulation, Inc. affirmed in all respects the decision of the Hearing Board. Specifically, the Board held that the Hearing Officer correctly determined that Sassano failed to establish that the conduct of the Division of Enforcement constituted state action and that, as a result, the Fifth Amendment did not prevent sanctions for Sassano's failure to testify. With respect to the process afforded to Sassano by the Hearing Officer, the Board further found that, in light of the relevant precedent, including the SEC's recent decisions on the issue of state action in Quattrone, Ficken, Turk, and Heinze, and in light of the lack of evidence of state action presented by Sassano, Sassano was not entitled to additional discovery relating to his state action claim.
|
November 2007
|
|
Sathianathan, Raghavan
|
Montclair, New Jersey
|
Barred
|
The SEC sustained the sanctions the NAC imposed following appeal of an OHO decision. The sanctions were based on findings that Sathianathan recommended and effected securities transactions for customers that were not suitable in light of their financial situations, investment objectives, circumstances and needs.
|
May 2009
|
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Saunders, Dorian K.
|
St. Louis, MO
|
Barred
|
Saunders sent public customers electronic mail from a personal email account, regarding potential currency trading programs and instructed the customers not to send him emails at his member firm's email address or contact him at the firm's office regarding the trading program, contrary to the firm's written procedures.
|
December 2008
|
|
Savino, William
|
Fort Lee, NJ
|
Barred
|
Savino violated NYSE Rule 476(a)(6) by engaging in deceptive practices related to short term trading of mutual
funds.
|
June 2008
|
|
Saxon, Christopher Eric
|
Indianapolis, Indiana
|
Barred
|
He failed to respond to NASD requests for information.
|
February 2006
|
|
Scaffe, David Michael
|
Daniel Island, SC
|
Barred
|
Scaffe consented to the described sanction and to the entry of findings that he borrowed funds from member firm customers when the firm expressly prohibited its representatives from borrowing funds from customers and included such prohibition in its compliance manual. The findings stated that Scaffe signed annual compliance questionnaires on which he acknowledged that he had received or had access to the firm's compliance manual and did not request or obtain permission from his firm to borrow funds from customers, nor could he under the firm's procedures. The findings also stated that Scaffe failed to respond to FINRA requests for a written statement. (FINRA Case #2008013809702)
|
December 2009
|
|
Scarso, Emanuele Anthony
|
Brooklyn, New York
|
Barred
|
The sanctions were based on findings that Scarso executed unauthorized transactions in public customers' accounts.
|
August 2006
|
|
Scavuzzo, James A.
|
Sicklerville, New Jersey
|
Barred
|
He failed to respond to NASD requests for information.
|
January 2005
|
|
Schaffer, John Paul
|
Hazlet, New Jersey
|
Barred
|
He converted $74,000 from a public customer for his own use and benefit. The findings also stated that Schaffer failed to respond to NASD requests for information.
|
March 2006
|
|
Scharf, Martin Howard
|
Hurricane, WV
|
Barred
|
Scharf forged, or caused to be forged, public customers' names on various insurance documents and submitted the documents to his member firm for processing.
|
July 2008
|
|
Schatz, Laura C.
|
Round Lake Beach, IL
|
Barred
|
Schatz used her supervisor's credit card to pay for her personal expenses without her supervisor's knowledge or consent.
|
December 2007
|
|
Scheans, Sean Daniel
|
Lake Oswego, OR
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
July 2008
|
|
Schettino, Jesus Francisco
|
Anaheim, California
|
Barred
|
He willfully failed to disclose material information on a Form U4.
|
May 2005
|
|
Schiller, Abraham
|
Tamarac, Florida
|
Barred
|
He entered fictitious contribution changes into his firm's computer system falsely representing that plan participants had increased their periodic contributions into their retirement plans. The findings stated that Schiller made other entries into the firm's system to attempt to conceal his unearned commissions totaling $55,077.19, and prevent his firm from reversing the commissions to which he was not entitled. The findings also stated that Schiller failed to respond to NASD requests for information and to appear for an on-the-record interview.
|
April 2005
|
|
Schlesinger, Steven Lawrence
|
New York, New York
|
Barred
|
Schlesinger consented to the described sanction and to the entry of findings that he purchased a municipal bond and engaged in a fraudulent and manipulative scheme in which he orchestrated prearranged non-bona fide sales and purchases of the bond by setting a same-day settlement when he sold the bond, and an extended settlement date when he repurchased the bond. The findings stated that Schlesinger promised a profit to contra parties of the transactions and assured them they were exposed to no risk of loss, although he knew the prices he predicted did not reflect the actual market value of the bond. The findings also stated that Schlesinger knew that the purchases and sales of the bond he arranged caused the publication and distribution of reports that were fictitious and in furtherance of his fraudulent, deceptive and manipulative purpose. The findings also included that Schlesinger made false and misleading statements under oath during an NASD interview.
|
June 2006
|
|
Schmitt, Jr., Peter
|
Plymouth, WI
|
Barred
|
Schmitt was the executive secretary for a private association, he opened a securities account for the association at a member firm without authority to do so and later transferred the association's securities account to another member firm. The findings stated that Schmitt opened another unauthorized securities account in the association's name at this firm that was a deferred compensation account for Schmitt's financial benefit. The findings also stated that Schmitt caused securities transactions to be effected in the association's securities accounts without the association's knowledge or consent, and in the absence of written or oral authorization to exercise discretion in the accounts. The findings also included that Schmitt submitted false and misleading Resolution Agreements when he opened the accounts, certifying that the Association's Board of Directors had voted to open the accounts when, in fact, there had not been any such vote. FINRA found that Schmitt opened a joint securities account in his and his wife's names at the firm but failed to disclose the existence of the securities accounts in which he had a financial interest to his member firms, and failed to advise the firm with which he had the accounts, in writing, that he was a registered representative with other firms. FINRA found that Schmitt failed to give prior written notice of his intention to execute securities transactions with the firm where he maintained the accounts to a member firm.
|
August 2008
|
|
Schnaier, Joseph
|
New York, NY
|
Barred
|
Schnaier 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, Schnaier consented to the described sanction and to the entry of findings that he failed to appear for FINRA on-the-record interviews. (FINRA Case #2007011937901)
|
October 2009
|
|
Schott-Bardol, Daniel Edward
|
Hickory, North Carolina
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
April 2007
|
|
Schrack, II, James Manner
|
Mansfield, Ohio
|
Barred
|
Schrack misappropriated $280,000 that belonged to mutual fund shareholders.
|
May 2007
|
|
Schroeder, Lee Gerald
|
Platteville, Wisconsin
|
Barred
|
Schroeder failed to disclose a material fact on his Form U4. The findings stated that Schroeder failed to timely respond to NASD requests for information and failed to appear for an NASD on-the-record interview.
|
November 2006
|
|
Schroeder, Steven Keith
|
N. Barrington, Illinois
|
Barred
|
He forged the signatures of public customers and their trustee to life insurance assignment forms involving insurance policies without the knowledge and consent of the customers and their trustee. The findings stated that Schroeder pledged the life insurance policies as collateral for a loan made to a company principally owned and operated by him, and affixed the signature of a loan officer of the bank that made the loan to his company to a release of one of the life insurance assignment forms without the loan officer's knowledge and consent.
|
May 2005
|
|
Schubert, Marsha Kay
|
Crescent, Oklahoma
|
Barred
|
Without prior notice to or approval from her member firms, she made material false representations to induce public customers to invest $7,738,500 in an investment program she operated, and repaid $1,118,700 to certain of the customers with funds obtained from other investors-not from the trading of option contracts.
|
February 2006
|
|
Schukal, Jonathan Robert
|
Southport, CT
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
August 2009
|
|
Schuster, Brian Jonathon
|
Syracuse, NE
|
Barred
|
Schuster made unsuitable recommendations to public customers without reasonable grounds for believing that such transactions were suitable for the customers in view oftheir financial situations, investment objectives and financial needs. The findings stated that to induce the purchase of securities, Schuster failed to disclose material facts thatdemonstrated the securities' risks and true financial conditions even though he had knowledge of such facts.
|
November 2007
|
|
Schwartz, Barry Leonard
|
Huntington, New York
|
Barred
|
He failed to appear for an NASD on-the-record interview.
|
April 2005
|
|
Schwartz, Cindy
|
Boca Raton, FL
|
Barred
|
Abuses in Marketing and Sales of Mortgage-Backed Securities to retail customers.
|
September 2008
|
|
Schwartz, Fred Ralph
|
Los Angeles, CA
|
Complaint Filed
|
Schwartz was named as a respondent in a FINRA complaint alleging that he engaged in excessive and unsuitable trading in the accounts of public customers.
|
December 2008
|
|
Schwarzwaelder,
Cheryl Roppa
|
Sewickley
Heights, Pennsylvania
|
Barred
|
She caused inaccurate expense reports for
client development to be submitted to her member firm.
|
November
2005
|
|
Schweiger, Laurence Bryan
|
Plantation, Florida
|
Barred
|
He participated in private securities transactions without prior written notice or approval from his member firm
|
May 2005
|
|
Sciascia, Nicholas Raymond
|
Howard Beach, New York
|
Barred
|
Sciascia failed to respond to NASD requests to appear for on-the-record interviews.
|
November 2006
|
|
Scida, Lance Nathaniel
|
Highlands Ranch, CO
|
Complaint Filed
|
Scida was named as a respondent in a FINRA complaint alleging that he made recommendations to customers to buy and sell Collateralized Mortgage Obligation (CMO) securities without having reasonable grounds to believe the investments
were suitable based upon the customers' investment experience, financial status and investment objectives.
|
May 2009
|
|
Scott, Frank Nicholas Jr.
|
Waco, Texas
|
Barred
|
Scott consented to the described sanction and to the entry of findings that he participated in private securities transactions without notifying his member firm of these transactions and his proposed role therein, and without receiving his member firm's prior written approval to engage in these transactions. The findings stated that Scott failed to respond to NASD requests for information.
|
August 2006
|
|
Scott, Todd Austin
|
Massillon, Ohio
|
Barred
|
Scott received funds from public customers for investment purposes or to deposit in their brokerage accounts and instead, used some of the funds for his personal benefit or for the benefit of someone other than the customer.
|
September, 2006
|
|
Seefried, Richard Albert
|
Spokane, WA
|
Complaint Filed
|
Seefried was named as a respondent in a FINRA complaint alleging that he exercised discretionary power in a customer's account without receiving the customer's prior written authorization or his member firm's acceptance of the account as discretionary. The complaint alleges that Seefried knowingly provided false information to the firm when he completed Registered Representative Compliance Summaries, causing the firm's books and records to become inaccurate. The complaint also alleges that Seefried knew that a customer's signature on a New Issue Certification was not genuine, but he submitted it, or caused it to be submitted, to the firm, and it became part of the firm's books and records, thereby falsifying the firm's records. The complaint further alleges that Seefried recommended and effected transactions in a customer's account without having reasonable grounds for believing that the transactions were suitable based upon the facts the customer disclosed as to her other security holdings, financial situation and needs. (FINRA Case #2007008443101)
|
September 2009
|
|
Selewach, Shane Alexander
|
Hyannis, MA
|
Barred
|
Selewach misused the customers' funds by depositing $71,000 intended for investment purposes into an account he controlled and used the funds for various personal expenses. The findings stated that Selewach borrowed $158,500 from public customers, contrary to his member firm's written
supervisory procedures prohibiting registered representatives from borrowing money from customers, other than immediate family members.
|
September 2008
|
|
Seleznov, Alex Benton
|
Tolleson, AZ
|
Barred
|
Seleznov failed to respond to FINRA requests to appear for anon-the-record interview. The findings stated that Seleznov failed to ensure that his member firm operated with sufficient net capital. The findings also stated that a member firm, acting through Seleznov, filed materially inaccurate FOCUS reports.
|
March 2008
|
|
Sepero, George
|
Hackensack, NJ
|
Barred
|
Sepero effected unauthorized securities transactions in public customers' accounts and provided false testimony during a FINRA on-the-record interview.
|
April 2008
|
|
Sens, Todd William
|
Robbinsdale, MN
|
Barred
|
Sens received checks totaling $3,528.60 from a public customer to pay life insurance premiums, failed to follow the customer's instructions and either cashed the checks or deposited them into his business checking account, and used the funds for his personal benefit. The findings stated that Sens failed to respond to FINRA requests for information.
|
May 2007
|
|
Serrano, Richard Lewis
|
Azusa, CA
|
Barred
|
Serrano failed to amend his FormU4 to disclose material information. The findings stated that Serrano failed to respond to FINRA requests for information.
|
October 2007
|
|
Settle, David Alan
|
Nephi, Utah
|
Barred
|
He obtained approximately $88,000 from the securities accounts of public customers by causing unauthorized withdrawals from the accounts and used the funds for his personal benefit.
|
August 2005
|
|
Sexton, Matthew M.
|
Floral Park, New York
|
Barred
|
He effected unauthorized purchase and sale transactions in a public customer's account without the customer's knowledge, authorization or consent.
|
December 2005
|
|
Shaalan, Ramy M.
|
Washington, DC
|
Barred
|
He wrongfully obtained approximately $96,000 from his member firm and converted the funds to his own use and benefit. NASD also found that he, in perpetrating the scheme, established a bank account under the name of a fictitious entity of which he was the purported owner. The entity's name was substantially similar to the name of an actual company with which his firm had a business relationship and had on occasion in the past provided business services to the firm. The findings also stated that using an invoice the firm had received from the actual vendor, he created an invoice template for the fictitious company and on various occasions generated false invoices for services the fictitious company purportedly provided the firm, submitting the false invoices to the firm for payment. The findings further stated that at his request, the checks issued to pay the false invoices were given to him to be transmitted to the fictitious company. Moreover, the findings stated that he endorsed the checks and deposited them into the bank account he had established in the name of the fictitious company, thereby converting the funds to his own use and benefit.
|
January 2005
|
|
Shadinger, Julianna Marie
|
South Bend, IN
|
Complaint Filed
|
Shadinger was named as a respondent in a FINRA complaint alleging that, by use of the instrumentalities of interstate commerce or the mails, she made untrue statements of
material fact or omitted to state material facts necessary in order to make the statements made, in the light of the circumstances under which they were made, not
misleading, to public customers. The complaint alleges that Shadinger induced public customers to purchase high-yield money market funds with check-writing privileges
when, in fact, the funds were invested in Class A shares of a front-end load mutual fund, which incurred fees against the accounts and Shadinger misrepresented the reason for the fees. The complaint also alleges that Shadinger negligently misled the customers to believe that they were investing in high-yield money market funds when they were actually purchasing Class A shares of a mutual fund. The complaint further alleges that Shadinger failed to establish and maintain available cash balances in the customers' accounts from which they could have written checks to cover expenses, but
instead, she liquidated mutual fund shares positions to cover the checks, thereby exercising discretion over their accounts, without the customers' written authorization nor did her member firm accept the accounts as discretionary.
|
January 2009
|
|
Shah, Kapil Shashikant
|
Jersey City, NJ
|
Complaint Filed
|
Shah was named as a respondent in a FINRA complaint alleging that he misrepresented or omitted material facts in his conversations with customers. The complaint alleges that
Shah promised unrealistic returns to his customers on their investments and made an improper price prediction concerning a stock to a customer.
|
March 2009
|
|
Shalvey, John Arthur
|
Westerville, OH
|
Barred
|
Shalvey opened securities accounts with a different member firm and did not notify his member firm, or the other firm, in writing, of his association with each firm prior toopening the accounts. The findings stated that Shalvey engaged in securities trading in the account with public customers with the expectation that he would share in theanticipated profits (and losses) with the customers without prior written authorization from the customers or from his firm for this sharing arrangement. The findings alsostated that Shalvey knowingly placed false information on his firm's annual compliance questionnaire and on another firm's official forms when he completed new account forms, falsely claiming that he did not maintain securities accounts away from his firm, that he was not associated with FINRA member firms and intentionally concealing the true beneficial ownership of the accounts he shared with customers.
|
November 2007
|
|
Shane, Hilary
|
New York, New York
|
Barred
|
The charges arise from Shane's purchase and sale of shares in a PIPE transaction. A PIPE (Private Investment in a Public Equity) is a private offering in which accredited investors agree to purchase restricted, unregistered securities of public companies. Only after the PIPE shares registration is approved by the SEC are investors free to sell them on the open market. PIPE shares can only be offered to "accredited" investors-investors with assets of $1 million or more.
|
June 2005
|
|
Sharif,
Labib Amir Al
|
Lawrenceville,
Georgia
|
Barred
|
He consented to the described sanction and
to the entry of findings that he caused unauthorized withdrawals from a
public customer’s account through the use of withdrawal requests that he
forged or caused to be forged, then obtained checks payable to the customer,
and endorsed and deposited the checks into a bank account under his control,
thereby converting $34,150 of the customer’s funds.
|
December
2005
|
|
Sharp, Dennis Wayne
|
Puyallup, WA
|
Barred
|
Sharp engaged in private securities transactions without prior notice to, and approval from, his member firm. The findings stated that Sharp represented to public customers that payments on promissory notes were guaranteed when he should have known that they were not guaranteed, and failed to inquire sufficiently into their status before making representations. The findings also stated that Sharp made recommendations to public customers without reasonable grounds for believing they were suitable for the customers on the basis of facts disclosed by them as to their other security holdings, financial situation and needs.
|
March 2008
|
|
Shave, Kathleen Ann
|
San Diego, CA
|
Barred
|
Shave failed to update her FormU4 to disclosematerial facts
and failed to respond to FINRA requests for information. (FINRA Case #2008014423801)
|
August 2009
|
|
Shaw, David Joseph
|
Indianapolis, Indiana
|
Barred
|
Without the knowledge or consent of a public customer, he transferred $977,547 in funds from customer's accounts into accounts under his control, and used the funds for his own use and benefit and not the use or benefit of the customer. The findings stated that Shaw, by use of the instrumentalities of interstate commerce or the mails, intentionally or recklessly employed devices to defraud public customers by making untrue statements of material facts or omitting to state material facts necessary to make the statements not misleading. The findings also stated that, after listening to the representations made by Shaw, customers invested $336,000, and, without their knowledge or consent, Shaw used these funds to his own use and benefit and not the use or benefit o the customers. NASD found that Shaw affixed the signatures of public customers on the firm's "Authority to Transfer Funds" forms and submitted the forms to his firm authorizing the transfer of $50,000 from the accounts of public customers to an account he controlled, and, without the knowledge or consent of the customers, used these funds for his own use or benefit and not the benefit of the customers. NASD also found that Shaw failed to respond to NASD requests for information.
|
April 2005
|
|
Sheehan, James Patrick
|
Avon Lake, OH
|
Barred
|
Sheehan made unsuitable recommendations to customers without having reasonable grounds to believe that these recommendations were suitable based on the customers'
financial situations and needs, causing the customers to incur surrender charges by switching annuities. The findings stated that Sheehan made misrepresentations or material omissions in connection with his recommendations to the customers, and
provided false information to his member firm in connection with the customers' transactions. (FINRA Case #2007011210901)
|
August 2009
|
|
Sheehy, Mark Jeffrey
|
Scottsdale, Arizona
|
Barred
|
Sheehy received $97,500 from a public customer to be invested, deposited the funds into his bank account and executed numerous transactions in the customer's account without the customer's authorization, knowledge or consent. The findings further stated that Sheehy caused the transfer of funds from the customer's securities account for the purpose of causing the customer to believe that the funds represented a return on investment. The findings also stated that Sheehy failed to respond to NASD requests for information.
|
February, 2007
|
|
Shelley, Kenneth Christopher
|
Hattiesburg, Mississippi
|
Barred
|
The NAC imposed the sanction following an appeal of an OHO decision. The sanction was based on findings that Shelley attempted to cheat on the Series 24 examination and failed to comply with NASD Rules of Conduct governing securities examinations.
|
May 2007
|
|
Shibata, Carlos Akira
|
Miami, Florida
|
Barred
|
He converted approximately $290,000 of a public customer's funds.
|
January 2005
|
|
Shick, Jean Y.
|
Staten Island, NY
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
August 2009
|
|
Shih-Hseih, Darla Jade
|
Delray Beach, Florida
|
Barred
|
Pursuant to NASD Rule 9552 for Failure to Provide Information Requested under NASD Rule 8210
|
April 2005
|
|
Shine, Craig Michael
|
Monroeville, PA
|
Barred
|
Shine forged a public customer's signature on several firm"Financial Advisory Service Agreements" and on mutual fund redemption forms to cause unauthorized transfers of $5,000 from the customer's mutual fund to Shine.
|
September 2007
|
|
Shipman, Jeffrey P.
|
Paxton, MA
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
May 2009
|
|
Shively, Timothy Patrick
|
San Antonio, TX
|
Barred
|
Shively made unsuitable recommendations and churned public customers' accounts.
|
December 2008
|
|
Shriner, William Anthony
|
Brownsburg, Indiana
|
Barred
|
Shriner converted $62,689.19 that belonged to public customer and used the funds for his own use and benefit without the consent or knowledge of the customer. The findings stated that Shriner failed to respond to NASD requests for information and documents.
|
August 2006
|
|
Shteinberg, Ilian
|
Hallandale, FL
|
Barred
|
A former Argus broker, barred for failing to appear and testify in connection with NASD's investigation.
|
February 2005
|
|
Shteyngart, Boris aka Brian Stein
|
Brooklyn, NY
|
Barred
|
Shteyngart failed to appear for a FINRA on-the-record interview. (FINRA Case #2009018032701)
|
September 2009
|
|
Shupak, Lonnie Richard
|
Hillsborough, New Jersey
|
Barred
|
Shupak opened several money market accounts for public customers of a bank affiliated with his member firm, accessed the bank's electronic records system and changed a code in the records to show that the money market accounts had been opened as checking accounts.
|
May 2007
|
|
Shurot, Donna Marie
|
Gilbert, AZ
|
Barred
|
Shurot received $58,000 from a public customer to purchase a life insurance policy, deposited the funds in her own personal account at her member firm, transferred $58,479 to her IRA account at the firm and failed to submit a life insurance application for the customer to the firm. The findings stated that Shurot caused another member firm to transfer $6,712 from a deceased customer's account at that firm by completing a request for redemption form, without authorization from the customer's estate, and included instructions on the form that the funds be made payable to an account belonging to Shurot at her member firm.
|
April 2008
|
|
Sidaway, Justin C.
|
Waterford, MI
|
Barred
|
Sidaway was barred from association with any FINRA member in any capacity. The sanction was based on findings that Sidaway accessed the systems of a bank affiliate of his member firm to obtain information regarding a customer and his retail bank account and, without the customer's knowledge or authorization, used the customer's personal account information to forge the customer's signature and complete withdrawals totaling $11,500 for his personal use, thereby converting the funds. The findings stated that Sidaway failed to respond to FINRA requests for information. (FINRA Case #2008013305801)
|
January 2010
|
|
Siddons, Daniel Richard
|
West Chester, Pennsylvania
|
Barred
|
Failure to Provide Information Requested under NASD Rule 8210.
|
May 2005
|
|
Silva, Ruben Mariano
|
Santa Rosa, CA
|
Barred
|
Silva received $5,302.40 from his insurance firm's customers,
deposited the funds into his general business account and wrote checks on his account to make insurance premium payments for the customers; failed to maintain sufficient funds in his account to cover the checks he forwarded to the firm; failed to apply the customers' insurance premium payments in a timely and proper manner, and used the funds to pay his own expenses by commingling customers' funds with his own.
|
January 2009
|
|
Simon, Tiffany Lynne
|
Columbus, OH
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
April 2008
|
|
Sims, Gina Crawford
|
Gastonia, NC
|
Complaint Filed
|
Sims was named as a respondent in a FINRA complaint alleging that she received a $928.78 check from an individual to purchase an auto insurance policy, deposited the check in her personal bank account and did not use it to pay the premium. The complaint alleges that Sims received $5,148.50 from customers to purchase variable life insurance policies and deposited the funds in her bank account and never used the funds to pay the premiums. The complaint also alleges that Sims failed to respond to FINRA requests to appear and testify. (FINRA Case #2008012948801)
|
September 2009
|
|
Singson, Sr., Rufino T.
|
Hicksville, New York
|
Barred
|
Singson participated in private securities transactions without providing prior written notice to his member firm describing in detail the proposed transaction and his role therein. The findings also stated that Singson refused to respond to questions during an NASD on-the-record interview.
|
June 2007
|
|
Sipes, Billy Joe
|
Bardstown, Kentucky
|
Barred
|
Sipes failed to respond to NASD requests for information.
|
May 2007
|
|
Sierp,
Kristian F.
|
Parkland,
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
|
|
Sikkenga, Mark Ivan
|
Kalamazoo, Michigan
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
August, 2006
|
|
Simbe, Jim Zabala
|
Troy, Michigan
|
Barred
|
Simbe failed to timely disclose a material fact on his Form U4. The findings stated that Simbe failed to respond to NASD requests for information.
|
July 2007
|
|
Simenz, Robert Daniel
|
Delaware, OH
|
Barred
|
Simenz failed to respond to FINRA requests for information.
|
October 2008
|
|
Simmers,
Jerritt Clark
|
Farmingville,
New York
|
Barred
|
He willfully failed to disclose material
facts on his Forms U4.
|
November
2005
|
|
Simmons, Ernie Preston (III)
|
Lititz, Pennsylvania
|
Barred
|
While impersonating a public customer, he contacted an outside brokerage firm by telephone and requested the liquidation of the customer's account at such firm without the customer's authorization to do so.
|
March 2006
|
|
Simpson, Harold Stephen, (Sr.)
|
Miramar Beach, Florida
|
Barred
|
Simpson received a $6,250 check from a public customer for investment purposes but used the funds for his own use and benefit without the customer's authorization or knowledge. The findings stated that Simpson created and delivered a false certificate of stock for a nonexistent company to the customer in order to convince the customer that he had invested the funds as directed. The findings also stated that Simpson failed to disclose in writing to his member firm the existence of a brokerage account in which he held a beneficial interest and failed to notify his member firm in writing of his association with another firm.
|
November 2006
|
|
Singh, Yuvraj
|
Mountain View, CA
|
Barred
|
Singh failed to respond to FINRA requests for information and
documents.
|
April 2009
|
|
Singhal, Raj
|
Unknown
|
Consent to censure and a permanent bar
|
Engaged in conduct inconsistent with just and equitable principles of trade by misappropriating funds from his member Firm employer in the amount of $86,283 and violated Exchange Rule 477 by failing to cooperate with Exchange's investigation.
|
July 6, 2005
|
|
Sirls, William Alan
|
Grosse Isle, MI
|
Barred
|
Sirls persuaded member firm employees and public customers to invest in Ponzi-type investments purportedly involving real estate and the firm's "busted trade" account, neither of which existed. The findings stated that Sirls failed to respond to FINRA requests for information.
|
October 2008
|
|
Sissel, Gary Dwight
|
Houston, TX
|
Barred
|
Sissel failed to respond to FINRA requests for information.The findings stated that Sissel engaged in private securities transactions with public customers by issuing promissory notes totaling $432,500 and failed to provide writtennotice to his member firm. The findings also stated that Sissel failed to repay the customers when the notes matured.
|
January 2008
|
|
Skalisky, Scott Harland
|
Baton Rouge, Louisiana
|
Barred
|
Skalisky consented to the described sanction and to the entry of findings that he transferred public customers' mutual fund positions into securities accounts he had established for the customers without their knowledge or authorization, and forged their signatures on the transfer request forms. The findings stated that Skalisky failed to respond to an NASD request for information.
|
July 2006
|
|
Skibola, Tomislav
|
Long Island City, New York
|
Barred
|
He executed transactions in the account of a public customer without the customer's prior knowledge, authorization, or consent. The findings also stated that Skibola engaged in the short-term trading of mutual fund shares in the account of a public customer, which was inconsistent with his fundamental responsibility for fair dealing with the customer, and also entailed the recommendation of securities transactions that were not suitable for the customer. In addition, NASD found that Skibola generated, or caused to be generated, false or inaccurate records in that he took actions to create the false appearance in firm records that the customer placed the orders via the Internet and were thus unsolicited when, in fact, Skibola caused the placement of the orders from his firm's offices.
|
August 2005
|
|
Skigen, Eric Scott
|
Bethesda, MD
|
Barred
|
Skigen created falsified electronic notes of his purported meetings and conversations with a customer after the customer filed an arbitration claim. The findings stated that Skigen provided the falsified notes to outside counsel in the arbitration case, without advising counsel or his member firm that he had falsified and backdated the notes, and misrepresented that the notes had been prepared contemporaneously with the conversations. The findings also stated that Skigen created similar falsified notes for another customer. The findings also included that Skigen provided false testimony during a FINRA on-the record interview.
|
June 2009
|
|
Skinner, Stephen
|
Buffalo, NY
|
Barred
|
Skinner violated NYSE Rule 346(b) by engaging in outside business activity without receiving prior written consent of firm employer; violated NYSE Rule 476(a)(6) by making misstatements to firm employer concerning outside business activity; violated NYSE Rules 476(a)(11) and 477 by failing to comply with written requests for written statement concerning matters that occurred prior to termination of status as registered representative; violated NYSE Rules 476(a)(11) and 477 by failing to comply with written request that he appear and provide testimony.
|
August 2008
|
|
Skjerven,
David Allan
|
Moorhead,
Minnesota
|
Barred
|
He failed to respond to NASD requests for
information.
|
September
2005
|
|
Slicho, Brian Thomas
|
Metairie, Louisiana
|
Barred
|
He unlawfully withdrew $10,514.19 from the bank accounts of public customers and converted the funds to his own use and benefit.
|
January 2005
|
|
Slusher, Michael
|
Rhinebeck, NY
|
Barred
|
Slusher, without a bank customer's authorization or consent, transferred $4,000 from the customer's account to an account he had opened in a fictitious customer's name, then withdrew $300 from that account for his own use and benefit. The findings stated that Slusher also failed to respond to FINRA requests for information.
|
February 2009
|
|
Smalley, James Edward
|
Portland, OR
|
Barred
|
Smalley was barred from association with any FINRA member in any capacity. The sanction was based on findings that Smalley failed to respond to FINRA requests for information and willfully failed to disclose material facts on his Form U4. (FINRA Case #2008012666801)
|
January 2010
|
|
Smallwood, Jr., Donald
|
Gibsonia, PA
|
Barred
|
Smallwood received $40,000 funds from public customers for investment purposes and, instead of investing the funds as promised, misappropriated the money, using some of it to repay other investors and some for his own use and benefit.
|
December 2008
|
|
Smart, Robert Michael
|
Grand Rapids, Michigan
|
Barred
|
He failed to respond to NASD requests for information.
|
February 2005
|
|
Smith, Bryan Keith
|
Palatka, Florida
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
November 2006
|
|
Smith, Donna Marie
|
Norton, OH
|
Barred
|
Smith embezzled $82,975 from her employer by making
unauthorized withdrawals from general ledger accounts at the branch bank where Smith worked, depositing the funds into her personal checking account and using the funds for her personal use. The findings stated that Smith failed to respond to FINRA's requests for information.
|
July 2009
|
|
Smith, Douglas Richard
|
Newbury Park, CA
|
Complaint Filed
|
Smith was named as a respondent in a FINRA complaint alleging that, without the customer's knowledge, authorization and consent, he effected the surrender and liquidation of
a variable annuity in the customer's account, and used the proceeds to purchase a variable annuity issued by another insurance company for the customer's account. The complaint alleges that, to effect the unauthorized transactions for the customer, Smith, without the customer's knowledge, authorization and consent, affixed, or caused to be affixed, the customer's signature and/or initials on documents. The
complaint also alleges that Smith stamped the document with the firm's medallion signature guarantee stamp and placed his signature on the stamp signature line, guaranteeing the customer's signature as genuine. (FINRA Case #2008012211601)
|
October 2009
|
|
Smith, Erica D.
|
Granville, OH
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
December 2008
|
|
Smith,
Hershel Francis (Jr.)
|
Key
Largo, Florida
|
Barred
|
Engaged in a course of conduct involving the
unregistered offer and sale of common stock and promissory notes.
|
September
2005
|
|
Smith, James Patrick
|
Decatur, Illinois
|
Barred
|
He converted $81,568.55 in funds intended for the purchase of traditional life insurance products or fixed annuities by public customers by depositing the funds in a checking account he controlled and using the funds for his own purposes.
|
February 2005
|
|
Smith, Jeffrey Lynn
|
Clint, Texas
|
Barred
|
He misappropriated $28,000 in insurance premium payments received from public customers without the customers' knowledge, authorization, or consent.
|
June 2005
|
|
Smith, Kenneth A., (II)
|
Fresno, California
|
Barred
|
Pursuant to NASD Rule 9552 (d)
|
September 2005
|
|
Smith, Kerie Anne
|
Allentown, Pennsylvania
|
Barred
|
She changed the surrender charge percentage that was shown on an Investment Switch Acknowledgement form signed by a public customer to a higher percentage without the customer's knowledge or authorization. The findings stated that Smith failed to respond to NASD requests for information and to give testimony.
|
April 2006
|
|
Smith, Roy Roxton (Jr.)
|
Jonesboro, Arizona
|
Barred
|
Pursuant to NASD Rule 9552(h).
|
April 2006
|
|
Smith, Timothy Andrew
|
Raleigh, North Carolina
|
Barred
|
Violated NYSE Rule 476(a)(6) by failing to disclose criminal history on employment application submitted to member firm employer; violated NYSE Rule 476(a)(10) by making misstatements and omissions of fact on Form U-4 filed with the NYSE; caused violation of NYSE Rule 345.12 by submitting inaccurate Form U-4 containing false information; violated NYSE Rule 477 by failing to comply with requests by NYSE Regulation for information with respect to activities that occurred prior to his employment termination at a member firm.
|
August 2006
|
|
Smith,
Trisha Joyce
|
Pace,
Florida
|
Barred
|
She misused public customer’s funds. The
findings stated that she failed to follow the customers’ directions to remit
premium payments to her member firm and instead held the funds for a later
time prior to remitting the funds as directed.
|
October
2005
|
|
Smithson, Howard Lee
|
Atlanta, GA
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
November 2009
|
|
Smotherman, Victoria Crawford
|
Wooser, Ohio
|
Barred
|
While attempting to influence public customers to purchase shares of mutual funds and variable annuities, Smotherman made misrepresentations to the customers that there would be no fees or sales loads in connection with the purchase and sale of the securities, that the principal was guaranteed and that the securities had a guaranteed return of at least 5 percent.
|
May 2007
|
|
Snapp, Michael Eugene
|
Unknown
|
Censure and bar until he complies, to become permanent if he does not comply within three months.
|
Violated Exchange Rule 477 by failing to comply with requests for information and for testimony.
|
January 25, 2005
|
|
Snodgrass, Deanna Louise
|
Tucson, AZ
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
December 2007
|
|
Snow, Larry Lamar
|
Jackson, Mississippi
|
Barred
|
Barred Pursuant to NASD Rule 9552(h).
|
June 2006
|
|
Snyder, Brian Keith
|
Terre Haute, IN
|
Barred
|
A public customer invested $239,000 in an entity engaged in the trading of various instruments and, following payment of the funds, Snyder caused documents completed in connection with the transactions to indicate that the funds invested in the entity were his, not the customer's.
|
December 2008
|
|
Snyder, Wesley Alvin
|
Oley, PA
|
Barred
|
Snyder failed to respond to a FINRA request for information.
|
March 2008
|
|
Sohaski, Kendall George
|
Fort Wayne, IN
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
May 2008
|
|
Sohn, David
|
Northbrook, IL
|
Barred
|
Sohn 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, Sohn consented to the described sanction and to the entry of findings that he engaged in private securities transactions for compensation, and failed to provide his member firm with written or oral notice, and failed to obtain the firm's approval to engage in such activity. The findings stated that Sohn failed to respond to FINRA requests for additional information and documentation. (FINRA Case #2008012988801)
|
October 2009
|
|
Solomon, Christopher David
|
Treasure Island, Florida
|
Barred
|
Solomon engaged in an outside business activity without prompt written notice to his member firm. The findings stated that Solomon received $8,000 from a public customer for investment purposes, deposited the funds into a bank account he controlled but failed to invest the funds in accordance with the customer's instructions, thereby converting the customer's funds. The findings also stated that Solomon provided the customer with a fictitious account statement in an attempt to conceal his conversion of the customer's funds. The findings also included that Solomon failed to respond to NASD requests for information.
|
July 2007
|
|
Sookias, Arlen Jolfaie
|
Unknown
|
Consent to censure and eight year bar.
|
Engaged in conduct inconsistent with just and equitable principles of trade in violation of Exchange Rule 476(a)(6) by failing to disclose his criminalhistory, including a conviction that subjected him to a statutory disqualification, on an employment application submitted to his member organization employer; violated Exchange Rule 351(b) and caused a violation of Exchange Rule 351(a) by failing to promptly report his criminal history, including a conviction that subjected him to a statutory disqualification; and caused a violation of Exchange Rule 346(f) by failing to disclose his criminal history.
|
March 14, 2005
|
|
Soper, Robert J.
|
Raleigh, NC
|
Barred
|
Soper failed to respond to FINRA requests for information and documents.
|
December 2008
|
|
Soranno, Jonathan Dominic
|
Astoria, NY
|
Barred
|
Soranno executed short-term mutual fund switch transactions in a customer's non-discretionary IRA account without the customer's knowledge and authorization. The findings stated that to conceal his conduct, Soranno failed to send trade
confirmations and prospectuses to the customer, failed to obtain mutual fund switch letters, and provided misleading responses to his firm's inquiries about the propriety of the trading in the customer's account. The findings also stated that the transactions were unsuitable given the customer's long-term investment goals and objectives, and caused the customer to suffer losses and incur commissions and fees, including $3,280 in commission payments to Soranno. The findings included that Soranno provided misleading information on employment application documents submitted to another member firm.
|
April 2009
|
|
Spadafora, Salvatore Michael
|
Garden City, NY
|
Barred
|
Pursuant to NASD Rule 9552(h).
|
March 2006
|
|
Spears, Mary Frances
|
Nampa, Idaho
|
Barred
|
Spears participated in private securities transactions without providing her member firm with prior written notification. The findings stated that Spears recommended securities transactions to public customers without having reasonable basis for believing the investment was suitable based on the customers' financial situations and needs. The findings also stated that Spears engaged in an outside business activity for compensation and failed to provide her member firm with prompt written notice.
|
December 2006
|
|
Speicher, Kevin Joseph
|
Pelham, NY
|
Barred
|
Speicher willfully failed to disclose material facts on his Form U4 and failed to provide information requested by FINRA. (FINRA Case #2008014413201)
|
December 2006
|
|
Spencer, Jeff Ross
|
Hickory, NC
|
Barred
|
Spencer falsified a customer's signature on documents submitted to his member firm to open multiple accounts for the customer, and failed to respond to FINRA requests for information.
|
May 2009
|
|
Spencer, Sr., William Walter
|
Franklin, TN
|
Barred
|
Spencer 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, Spencer consented to the described sanction and to the entry of findings that he engaged in a Ponzi scheme over a 10-year period, borrowing $1,897,718 from customers and non-customers by inducing them to sign promissory
notes, representing that he would pay 10 percent to 12 percent interest and return the investor's principal in periods ranging from six months to one year. The findings stated that Spencer misused the funds because he knew he did not have the liquid assets or ongoing income necessary to pay interest and return the principal, and used new investor funds to pay existing investors. The findings also stated that, in other
instances, Spencer automatically renewed the obligation when the promissory notes became due. The findings also included that Spencer's member firm prohibited loans from customers regardless of the registered representative's relationship with the customer, unless the registered representative obtained prior written approval. Spencer never requested or received approval from his firm to accept the loans. (FINRA Case #2008013442501)
|
October 2009
|
|
Spinello, Anthony Paul
|
Rochester, New York
|
Barred
|
He converted $127,950 from public customers without their knowledge, authorization or consent.
|
March 2006
|
|
Stabile, Timothy John
|
Ottumwa, Iowa
|
Barred
|
Stabile failed to respond to NASD requests for information.
|
May 2007
|
|
Stadelmann, Jeffrey Douglas
|
Menomonee Falls, WI
|
Barred
|
Stadelmann received $1.5million from members of the public to purchase privately held companies' stock but used the funds for other purposes. The findings stated that Stadelmann engaged in private securities transactions, for compensation,
without his member firm's prior permission. The findings also stated that Stadelmann borrowed $719,000 from firm customers in violation of FINRA rules. The findings also
included that Stadelmann failed to respond to FINRA requests for documents and to appear for an on-the-record interview. (FINRA Case #2008012970401)
|
August 2009
|
|
Stahl, Keith Everett
|
Houston, Texas
|
Barred
|
He willfully failed to disclose material facts on his Form U4.
|
June 2005
|
|
Starace, Robert
|
Brooklyn, NY
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
December 2007
|
|
Stauffer, Timothy James
|
Centerville, OH
|
Barred
|
Stauffer misappropriated $523,822.50 from his member firm's public customers by obtaining letters of authorization (LOA) signed in blank by the customers and subsequently, without authorization, filled in the LOA to direct that checks or wire transfers be paid out of the customer's account. The findings stated that Stauffer wrongfully used an ATM debit card issued to his brother's account to misappropriate $8,134 by ATM withdrawals from the account. The findings also stated that Stauffer failed to respond to FINRA requests to provide testimony.
|
April 2008
|
|
Steadman, David Lee
|
Virginia Beach, Virginia
|
Barred
|
Steadman forged public customers' signatures on documents without the customers' authorization or consent. The findings also stated that Steadman failed to respond to NASD requests for an on-the-record interview.
|
March, 2007
|
|
Steadman, Timothy LeRoy
|
Houston, Texas
|
Barred
|
He willfully failed to disclose material facts on his Form U4.
|
June 2005
|
|
Stebbins, Jeffrey Michael
|
Mesa, AZ
|
Barred
|
Stebbins failed to respond to FINRA requests to appear for an on-the-record interview and to provide information and documents; knowingly provided false and/or misleading information in response to FINRA requests for information; engaged in his member firm's investment banking and securities business in capacities requiring registration as a representative and principal, but he was not registered in those capacities; engaged in an outside business activity, for compensation, without prior written notice to his member firm; had a beneficial interest in securities accounts maintained at other member firms and failed to disclose to the carrying broker-dealers that he was associated with FINRA members, and also failed to give his member firms written notification that he had a financial interest in securities
accounts with the carrying broker-dealers.
|
January 2009
|
|
Steele, Bridget Elaine
|
Stafford, TX
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
March 2008
|
|
Steele,
Epko Anthony
|
Laurelton,
New York
|
Barred
|
Steele pled guilty to participating in a scheme to defraud mortgage lenders, in that he received $15,000 for assisting an impostor with obtaining a fraudulent mortgage when he knew that the impostor was not an authentic purchaser of the property
|
June 2006
|
|
Steffens, Eric P.
|
Unknown
|
Consent to censure and permanent bar.
|
Engaged in conduct inconsistent with just and equitable principles of trade by misappropriating funds belonging to his member firm employer.
|
May 24, 2005
|
|
Steigerwald, John
|
Larchmont, New York
|
Censure and permanent bar
|
Violated NYSE Rule 476 (a)(6) by effecting unauthorized trades in customer accounts, by effecting trades in customer accounts that were unsuitable given customer's age, circumstances, investment objectives and risk tolerance, by making material misstatement to NYSE; violated NYSE Rule 477 by failing to appear and testify as requested.
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February, 2007
|
|
Stein, Ronald
|
Los Angeles, CA
|
Barred
|
Stein failed to respond to FINRA requests for information and documents; and failed to respond to a FINRA request to appear for an on-the-record interview.
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January 2009
|
|
Stellmach, Justin Lee
|
Yardley, Pennsylvania
|
Barred
|
Failure to Provide Information Requested under NASD Rule 8210.
|
May 2005
|
|
Stephens, Raymond Cecil
|
Durham, North Carolina
|
Barred
|
He refused to answer questions during an NASD on-the-record interview.
|
February 2006
|
|
Sternat, Harvey James
|
River Falls, WI
|
Barred
|
Sternat converted approximately $126,700 from a public customer by paying himself approximately $126,700 in his capacity as power of attorney for an elderly individual who was not a customer of his member firm or his investment adviser firm.
|
September 2007
|
|
Storey, Michael Lee
|
Goodyear, AZ
|
Barred
|
Storey received $136,523 from public customers to purchase annuities, but failed to purchase the annuities or to return the funds to the customers.
|
January 2008
|
|
Strader, Seth Abraham
|
Santa Cruz, California
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
April 2007
|
|
Strandberg, Patricia Louise
|
San Antonio, Texas
|
Barred
|
Strandberg failed to respond to NASD requests for information.
|
December 2006
|
|
Stremel, Gary Robert
|
Houston, TX
|
Barred
|
Stremel submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity.Without admitting or denying the allegations, Stremel
consented to the described sanction and to the entry of findings that he exercised discretion in a customer's account without the customer's written authorization or his member firm's acceptance of the account as discretionary. The findings stated that Stremel failed to appear and testify as requested by FINRA. (FINRA Case #2008013884701)
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October 2009
|
|
Stephenson, Jennifer Anne
|
Indianapolis, Indiana
|
Barred
|
She converted funds belonging to a public customer by electronically transferring $4,000 from the account of the customer to Stephenson's personal checking account and then using $3,700 of the funds for her own use and benefit without the knowledge or consent of the customer.
|
August 2005
|
|
Stern, Scott
|
San Diego, California
|
Barred
|
He recommended and effected securities transactions in the account of a public customer without having a reasonable basis for believing that his recommendations and transactions were suitable based on the customer's objectives, financial situation, and needs. The findings stated that Stern exercised discretionary trading authority in public customers' accounts without obtaining the customers' prior written authorization and his member firm's prior written acceptance of the accounts as discretionary. The findings further stated that Stern effected unauthorized trades in the accounts of public customers and settled a customer complaint for $10,000 without his firm's knowledge or approval.
|
April 2005
|
|
Stewart, Robert Kyle
|
Mountain Home, AR
|
Barred
|
Stewart accepted $445,914.13 from an elderly public customer for investment in a corporation he organized and owned, and failed to issue the customer any ownership interest. The findings stated that rather than using the funds as intended, Stewart converted the funds to his own use and benefit by depositing the funds into the corporation's bank account and paid personal expenses directly from the account or transferred funds to his personal bank account, thereby converting the funds without the customer's knowledge or consent.
|
May 2009
|
|
Stewart,
Robert Trevlin (Jr.)
|
Richmond,
Virginia
|
Barred
|
He received a $165,000 check from a public
customer for investment purposes that he deposited into a bank account he controlled,
then withdrew $28,838.14, thereby using the funds for his own use and benefit
without the customer’s knowledge, authorization or consent.
|
November
2005
|
|
Stewart,
Ryan Christopher
|
Chesapeake,
Virginia
|
Barred
|
He sought and accepted a $5,000 loan from a
public customer without obtaining prior written approval from his member firm
to borrow the funds.
|
November
2005
|
|
St. Jean, Claude
|
Tampa, Florida
|
Barred
|
Pursuant to NASD Rule 9552(h).
|
July 2006
|
|
Stainbrook, Jeffrey L.
|
Mercer, Pennsylvania
|
Barred
|
Violated NYSE Rule 476 (a)(6) by misappropriating client funds; violated NYSE Rule 477 by failing to comply with one or more written requests by the NYSE for information concerning matters that occurred prior to his termination from employment.
|
August 2006
|
|
Stipek, Leslie Clark
|
Tustin, CA
|
Barred
|
While acting through a limited liability company Stipek owned that was not a FINRA member, Stipek effected securities transactions on public customers' behalf and received $1,248,340 in commissions for the sales. The findings stated that the limited liability company, acting thorugh Stipek, acted as a broker-dealer without being registered with the SEC. Thefindings also stated that Stipek failed to appear for a FINRA on-the-record interview.
|
February 2008
|
|
Stokes, Barry Ray
|
Dickson, TN
|
Barred
|
Stokes failed to respond to FINRA requests for documents and information.
|
November 2008
|
|
Stoyanovich,
Oscar
|
Pembroke
Pines, Florida
|
Barred
|
He failed to appear for an NASD
on-the-record interview.
|
October
2005
|
|
Strahan, Leif Christian
|
Fort Collins, Colorado
|
Barred
|
Strahan consented to the described sanction and to the entry of findings that he obtained authorization from a public customer to withdraw $750 from the customer's account to pay for legal and/or accounting advice he had recommended, and instead, without the customer's knowledge or consent, deposited the funds into his personal bank account and used the funds for his own benefit.
|
June 2006
|
|
Strauss, Stephen M.
|
Calabasas, CA
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
July 2009
|
|
Strnad, Debbie E.
|
Westchester, IL
|
Barred
|
Strnad took $20,560 from her member firm's banking affiliate, without the bank's knowledge or consent, and used the funds for her own purposes.
|
December 2007
|
|
Stromgren,
Matthew Traver
|
New
York, New York
|
Barred
|
He received $31,000 from public customers
for investment purposes, but used the funds for his own personal use and
benefit without the customers’ prior knowledge, authorization or consent.
|
January
2006
|
|
Stuart, Della Aimee
|
Beaverton, Oregon
|
Censure and a permanent bar.
|
Stuart failed to disclose her prior criminal history on an employment application submitted to her member firm employer that subjected her to statutory disqualification and failed to comply with a written request by NYSE Regulation for information with respect to activities that occurred prior to the termination of her employment with a member firm.
|
March, 2007
|
|
Studer, Michael Thomas
|
Amityville, New York
|
Barred
|
The SEC affirmed the NAC decision that imposed sanctions following appeal of an OHO decision. he sanctions were based on findings that Studer failed to reasonably supervise trading in a public customer's account by ignoring "red flags" that indicated potential problems with the account. he findingsalso stated that Studer's firm induced a public customer to execute margin guarantees that benefited his firm and exposed the customer to significant risk. This decision has been appealed to the United States Court of Appeals and allsanctions, other than the bar, are not in effect pending consideration of the case.
|
October 2007
|
|
Styer, Amy Lou
|
Birdsboro, PA
|
Barred
|
Styer engaged in an outside business activity, for compensation, without prompt written notice to her member firm. The findings stated that Styer failed to respond to a FINRA request to testify under oath.
|
September 2008
|
|
Suggs, Cheryl Janette
|
Rockingham, North Carolina
|
Barred
|
Pursuant to NASD Rule 9552(h)
|
March, 2007
|
|
Suh, Heung Won
|
Fresh Meadows, New York
|
Barred
|
He refused to comply with an NASD request to provide testimony.
|
February 2005
|
|
Sullivan, Lawrence Lee
|
Honolulu, Hawaii
|
Barred
|
He failed to respond to NASD requests for information and documents.
|
August 2005
|
|
Sullivan, Maureen Catherine
|
Chattanooga, Tennessee
|
Barred
|
Sullivan willfully failed to disclose material information on her Form U4. The findings stated that Sullivan failed to respond to NASD requests to appear for an on-the-record interview.
|
June 2007
|
|
Sullivan, Jr., Oren Eugene
|
Rock Hill, SC
|
Barred
|
FINRA barred Oren Eugene Sullivan, Jr., of Rock Hill, SC, for misappropriating approximately $3.7 million in a decades-long Ponzi scheme involving more than 30 clients-including 15 widows, two Alzheimer's victims and an individual with
developmental impairments. At least eight of the affected clients were over 80 years old and another four were over 70 years of age. Numerous victims considered Sullivan a close family friend.
|
October 2009
|
|
Sullivan, Thomas Edward
|
Coppell, TX
|
Barred
|
Sullivan participated in private securities transactions and failed to notify his member firms of his participation in the transactions.
|
July 2008
|
|
Sung, Eva Yee May
|
Irvine, California
|
Barred
|
She forged the signatures of public customers and a branch manager on forms authorizing Sung to become the new representative of certain "orphaned" brokerage accounts.
|
February 2005
|
|
Supercinski, David
|
Aledo, TX
|
Complaint Filed
|
Supercinski was named as a respondent in a FINRA complaint alleging that he forged customers' signatures to variable annuity applications and other documents without their prior knowledge or consent. The complaint alleges that, without the customer's prior knowledge or consent, Supercinski falsified documentation, which resulted in an unauthorized transfer of assets and in the purchase of a variable annuity for a customer, where he was identified on the variable annuity statement as the representative. The
complaint also alleges that Supercinski failed to respond to FINRA requests for information and documents, and to appear for an on-the-record interview.
|
July 2009
|
|
Suranakapan,
Palit Paul
|
Beverly
Hills, California
|
Barred
|
He falsified and forged customer signatures
on authorization letters and converted $24,000 of customers’ funds without
the customers’ knowledge, authorization or consent. The findings stated that
he, in an attempt to conceal his misconduct, changed the address of one of
the customer’s accounts and, when the customer became aware of the
unauthorized change of address and a wire transfer from the customer’s
account, he created and sent the customer a letter on his member firm’s
letterhead, without the firm’s knowledge, authorization or consent, falsely
representing that the wire transfer was due to a firm system error which was
then corrected.
|
December
2005
|
|
Sutton, David Scott
|
Somerset, KY
|
Barred
|
Pursuant to FINRA Rule 9552(h)
|
May 2009
|
|
Sutton, Jarred Gerome
|
St. Louis, Missouri
|
Censure and permanent bar
|
Sutton failed to disclose his prior criminal history on his application for employment submitted to his member firm employer 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.
|
May 2007
|
|
Swanson, Reuel Clarion
|
Spokane, Washington
|
Barred
|
He, acting on behalf of his member firm, had a supervisory system and written supervisory procedures that were inadequate and did not appropriately deter and detect violations of NASD rules, which included misrepresentations and omissions in the sale of its proprietary products, unsuitable recommendations, and inadequate review and approval of sales of proprietary products. In addition, NASD determined that Swanson failed to take effective supervisory action in the face of red flags indicating improper sales practices by registered representatives.
|
March 2005
|
|
Sweeney,
Christopher Alan
|
Palm
City, Florida
|
Barred
|
Engaged in a course of conduct involving the
unregistered offer and sale of common stock and promissory notes.
|
September
2005
|
|
Swenson, Douglas Leon
|
Eagle, ID
|
Barred
|
Swenson consented to the described sanction and to the entry of findings that he had provided FINRA with incomplete information and documents, and failed to provide additional requested information and documents. (FINRA Case #2008015496701)
|
December 2009
|
|
Swiat,
David James
|
Kalamazoo,
Michigan
|
Barred
|
He received $300 in cash from a public
customer for investment purposes and failed to promptly use the customers
funds as instructed. The findings stated that Swiat created and gave to the
customer a fictitious order ticket and a fictitious receipt on which he
signed his member firm’s branch office manager’s name without his knowledge
or consent. The findings also stated that he misused customer funds by
failing to follow instructions, in that he used the funds for some purpose
other than the benefit of the customer.
|
October
2005
|
|
Swisher, Bret Allen
|
Mansfield, Ohio
|
Permanent bar.
|
Swisher misappropriated approximately $41,586 in customer funds and signed customer names on one or more letters of authorization, caused false entries in the books and records of his member firm organization and failed to comply with one or more written requests by Enforcement for information.
|
December 2006
|
|
Sylvester, Cassian Oliver
|
New York, New York
|
Barred
|
Failure to Provide Information Requested under NASD Rule 8210.
|
May 2005
|
|
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