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July 22, 2008
NASD
Conduct Rule 21... | [Read On]
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NOTE: Offers of Settlement (OS) and Letters of Acceptance, Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions and to the entry of findings. 2005
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Terrence Edward Maryniw AWC/E8A2003082802/December 2005 Maryniw purchased securities in the securities account of a stockbroker, who was registered at a different NASD firm than Maryniw --- and he did so without notifying
Maryniw participated in a private securities transaction in that he failed and neglected to give written notice to his employing NASD firm, and failed to receive written approval from his firm, prior to engaging in such activity. Fined $5,000; Suspended 10 business days in all capacities |
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Donald Jordan Haskell AWC/E0220040658-01/December 2005 Haskell participated in private securities transactions without providing written or oral notification to, or receiving prior written approval from, his member firm. He settled a customer complaint and did not inform his member firm of the customer’s complaints, or of his agreement to personally help repay the notes to the customer. Fined $5,000; Suspended 6 months in all capacities; Requalify as General Securities Representative |
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Timothy Bryan Dickey C0520050017/December 2005 Dickey recommended and effected an investment strategy to public customers without having a reasonable basis for believing that the strategy was suitable for them given their financial needs and conditions. Dickey participated in private securities transactions without providing prior written notice and obtaining approval from his member firm. Dickey failed to respond to NASD requests for information. Barred; Fined $221,846.52 (disgorgement) |
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John Barry Chambers OS/CLI20040031/ELI2002045104/December 2005 Chambers
Barred; Ordered to pay $73,750 in restitution |
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Stephen Craig Richmond C05050012/November 2005 Richmond engaged in private securities transactions without providing prior written notice to his member firm. Also, he failed to respond to NASD requests for information. Barred |
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Francisco Galvan (Principal) OS/C01040017/November 2005 Galvan participated in private securities transactions without providing prior written notice to his member firm. He recommended securities transactions to a public customer without having a reasonable basis for believing the recommendations were suitable for the customer based on the customer’s financial situation and needs. He failed to respond to NASD requests for documents and information. Barred |
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John Charles Sabo (Principal) AWC/E9B2004034201/October 2005 Sabo engaged in private securities transactions without prior written notice to, or approval from, his member firm. Fined $10,000; Suspended 7 months in all capacities |
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Jan Lynn Brueggemann OS/NASD Complaint #E022004059104/NASD Offer #C0220050053/October 2005 Brueggemann participated in a private securities transaction without providing prior written notification to, and receiving prior written approval from, his member firm. Fined $7,400; Suspended 30 business days in all capacities |
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Richard Carvel Brown AWC/E3A2004031401/October 2005 Brown participated in private securities transactions without providing prior written notice to his member firm. Fined $5,000; Suspended 15 business days in all capacities |
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Robert Edmond Pompey AWC/E8A2004094801/September 2005 Pompey participated in private securities transactions for compensation without providing written notice, and failed to receive written approval from his member firm prior to engaging in such activities. He failed to timely respond to NASD requests for information. Fined $7,500; Ordered to disgorge $79.447; Suspended 1 year in all capacities |
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John Daniel Minerva (Principal) AWC/C9B050043/August 2005 Minerva participated in a private securities transaction without prior written notice to, or prior written approval from, his member firm; and he failed to respond to NASD requests for information. Barred |
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Steve Eric Milstein-Roth OS/C02050035/August 2005 Milstein-Roth participated in private securities transactions without prior written notice to, or approval from, his member firm; and hefailed to respond to NASD requests for documents and information. Barred |
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Kyle Timothy Holland (Principal) AWC/C06050016/August 2005 Holland failed to ensure that his member firm included a $500,000 settlement agreement as a liability of the firm. He filed inaccurate FOCUS Reports with NASD that significantly overstated the firm’s net capital position and Holland failed to give NASD notice of the firm’s net capital deficiencies. Holland participated in private securities transactions and failed to give his member firm prior notice of his transactions involving a stock, his role therein, and whether he might receive compensation in connection with the transactions. Fined $25,000; Suspended 1 month in all capacities; Suspended 3 months in principal capacity |
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Randall Patrick Aungst AWC/C8A050070/August 2005 Aungst participated in private securities transactions, for compensation, failed to give written notice of his intention to engage in such activities to his member firm, and failed to receive written approval from his member firm prior to engaging in such activities. Fined $5,000; Suspended 1 year in all capacities. |
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Daniel Patrick Walker AWC/C04050019/July 2005 Walker participated in private securities transactions without providing prior written notification to and receiving prior written approval from his member firm. Fined $5,000; Suspended 6 months in all capacities; REquired to pay $30,353 plus interes in disgorgement as partial restitution to public customers. |
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Teekachand Richard Tiwari AWC/C10050031/July 2005 Tiwari participated in private securities transactions without providing written notification to or obtaining written approval from his member firm. Tiwari engaged in outside business activities without providing prompt written notice to his member firm. In addition, he failed to respond to NASD requests to appear for an on-the-record interview. Barred |
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John Francis Ranhofer OS/C02040033/July 2005 Ranhofer participated in a private securities transactions without providing prior written notice to or receive approval from his member firm. Ranhofer engaged in outside business transactions and failed to give prompt notice of these activities to his member firm. Ranhofer failed to disclose material facts on his Form U4. (NASD Case #) Barred |
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Robert Kurtis Mauss C06050010/July 2005 Mauss engaged in private securities transactions without providing prior written notice to his member firm. He engaged in outside business activities and received compensation in connection with such activity without providing prompt written notice to his member firm. Mauss failed to disclose material facts on his Form U4. Barred. |
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David A. Johnson C9A040061/July 2005 Johnson participated in private securities transactions without providing prior written notice to and receiving written permission from his member firm. He failed to respond to NASD requests for documents and information. Barred; Ordered to pay $42,702.83 plus interest in restitution to public customers |
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David Alan Roth AWC/C02050028/June 2005 Roth participated in private securities transactions for which he expected to receive compensation, but did not receive prior written approval from his member firm. Fined $5,000; Suspended 3 months in all capacities |
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Roger Angelo Kapsalis AWC/C10050018/June 2005 Kapsalis willfully failed to disclose material facts on his Form U4. Also, he effected securities transactions away from his member firm and failed to provide written notification to his member firm. Fined $10,000; Suspended 9 months in all capacities |
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David Leo Dennis C05040076/June 2005 Dennis participated in private securities transactions without providing prior written notice to his member firm. Dennis failed to respond to NASD requests for information. Barred |
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Terry Jon Atzen (Principal) AWC/C3B050008/June 2005 Atzen engaged in private securities transactions without providing prior notice to, and receiving approval from, his member firms. Fined $88,342.51 (includes $78,342.51 disgorgement); Suspended 2 years in all capacities |
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Joseph Abbondante (Principal) C10020090/June 2005 (Decision by NAC following OHO Decision) The NAC found that Abbondante
Barred; Required to pay public customers $276,265 in restitution. |
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Michael Allen Von Kanel AWC/C05050009/May 2005 Von Kanel
Barred; Required to pay $28,000 plus interest in restitution to a public customer in the event of he seeks relief from any statutory disqualification. |
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Laurence Bryan Schweiger AWC/C07050012/May 2005 Schweiger participated in private securities transactions without prior written notice or approval from his member firm. Barred |
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Robert Michael Graves Jr. OS/C06050002/May 2005 Graves
Fined $7,500; Suspended 20 business days in all capacities |
| Bill Singer's Comment: You know how you never see someone for years and then twice in the same day. Well, check out the DeBock case where we have another sanction for borrowing money from a customer. |
| Richard Drayton Jr. AWC/C9A050010/May 2005 Drayton engaged private securities transactions without prior written notice to and approval from his member firm. Fined $10,000; Suspended 2 years in all capacities. |
| Paul Roger Burgeson AWC/C04050010/May 2005 Burgeson engaged in private securities transactions without notifying or receiving prior written approval by his member firm; and failed to respond to NASD requests for information. Barred |
| Lawrence Bryan Schweiger (Principal) AWC/C07050012/April 2005 Schweiger participated in private securities transactions, and failed to provide prior written notice to, and receive prior written approval from, his member firm. Barred |
| Roger Grieco AWC/C10050006/April 2005 Grieco effected a private securities transaction away from his member firm by facilitating an investment in a $50,000 promissory note for public customers. He failed to provide written notification to his member firm prior to effecting the transaction. Fined $7,500; Suspended 45 days |
| Jay James Gianni AWC/C8A050011/April 2005 Gianni participated in private securities transactions without providing prior written notice to, and receiving prior written approval from, his member firm. Barred with right to reapply after 5 years |
| Stewart Reed Ford AWC/C02050012/April 2005 Ford participated in private securities transactions, received $42,253 in commissions, and failed to provide prior written notice to, and receive prior written approval from, his member firm. Fined $47,253; Suspended 2 years. |
| Kenneth Joseph Clairmont, Jr. AWC/C11050003)/April 2005 Clairmont engaged in private securities transactions without prior written notice to, or approval from, his member firm. Fined $5,000; Ordered to disgorge $25,000 received in connection with the securities sales, and pay partial restitution, plus interest; Suspended 3 months all capacities |
| Ronald Dean Udy AWC/C3A050005/March 2005 Udy engaged in private securities transactions without providing prior written notice to his member firm. Further, he acted in a supervisory capacity at his member firm without registration as a general securities principal or investment company and variable contract products principal. Udy was Fined $12,500; Suspended 25 days in all capacities; Suspended 25 days in principal/supervisory capacity. |
| Memory Ursula Pritchard AWC/C02050004/March 2005 Pritchard participated in private securities transactions, received $53,073 in commission, and failed to provide prior written or oral notification to, and receive prior written approval from, her member firm. Pritchard was Fined $12,073 (includes $2,073 in disgorgement of commissions); Suspended 12 months in all capacities |
| Herman Forrest Lombard AWC/C04050006/March 2005 Lombard engaged in private securities transactions totaling $256,000 without notifying his member firm of these transactions and his proposed role therein, and without receiving prior written approval from his member firm. Lombard was Fined $5,000 and Suspended for 6 months |
| Alicia Ann Hiller AWC/C02040057/March 2005 Hiller engaged in private securities transactions without prior notice to and approval from her member firm. Hiller was NOT Fined because of financial statues; Suspended 3 months in all capacities. |
| Derrick Ross Edward Doba (Principal) AWC/C02040056/March 2005 Doba engaged in private securities transactions without prior notice to and approval from his member firm. Doba NOT Fined in light of financial status; Suspended 4 months in all capacities. |
| Joseph Frank Pappalardo, Jr. AWC/C10040188/February 2005 Pappalardo effected private securities transactions and failed to provide prior written notification to his member firm. He failed to respond to NASD requests to appear for an on-the record interview. Pappalardo was Barred. |
| Robert Joseph Pagan (Principal) AWC/C9B040111/February 2005 Pagan participated in private securities transactions without providing prior written notice to or prior written approval from, his member firms. Pagan was Fined $5,000; Ordered to Disgorge $11,017.05 in partial restitution to public customers, and Suspended 6 months in all capacities. |
| Richard Antonino AWC/C9A040058/February 2005 Antonino engaged in private securities transactions and failed to give prior written notice of such transactions to his member firms with which he was associated. Antonino was Fined $7,500 and Suspended 3 months in all capacities. |
| Lacy McClure Walthall, III C07040048/January 2005 Walthall engaged in outside business activities and private securities transactions without prompt written notification to his member firm and his firm’s written approval to engage in the private securities transactions. Fined $35,000, suspended from 1 year in all capacities; and ordered to requalify by exam as a general securities representative (Series 7) before re-entering the securities industry. |
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David Allen Regis C06040017/January 2005 Regis was apparently a "limited" securities representative )not registered as a General Securities Representative) during a period in time when he was apparently selling payphone investment contracts to public customers. Such sales were outside his permissible range of products. 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. Regis failed to respond to NASD requests to appear and give testimony. Barred |
| Bill Singer's Comment: Our old friend the payphone investment contracts pops up bright and early for 2005. Be careful when handling these products, they are generally deemed to be securities . . . even though, time and time again, many RRs just don't seem to realize it. |
| Brian Ladah OS/C11040038/January 2005 Ladah engaged in private securities transaction soutside the normal scope of employment with his member firm and failed to give prior written notice to, and receive approval from, his member firm. Also, he engaged in outside business activities without providing prompt written notice to his member firm. Fined $5,000; suspended 2 years in all capacities; ordered to disgorge to customers $49,200 commissions plus interest |
| Herbert Ivan Kay C3A030015/January 2005 Kay engaged in private securities transactionsand failed to provide prior written notice to his member firm. Barred |
| William Franklin Herndon (GSP) AWC/C04040057/January 2005 Herndon engaged in private securities transactions totaling $112,000 without notifying his member firm of the transactions and his role therein, and without receiving prior written approval from his member firm. Fined $5,000 and suspended 60 days in all capacities. |
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