NOTE: Stipulations of Fact and Consent to Penalty (SFC); 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 & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.
Ronak C. Patel
2010024540401
Patel failed to respond to FINRA requests for
information and to appear
for testimony regarding loans from a firm customer.
Patel failed to
make appropriate disclosure of an outside securities account after
he became associated
with his member firm and failed to notify the firm that held his
securities account that
he had become associated with a firm.Patel made a false
statement on an annual compliance certification to his firm that
he completed after
he signed and filed his initial Form U4 subjecting himself to
FINRA’s jurisdiction. Patel
acknowledged receipt of and adherence to the firm’s policies,
including obligations to
comply with the firm’s policies and to adhere to the applicable
federal, state and selfregulatory
organization laws and rules. Patel falsely stated that he did not
have a securities
account when, in fact, he did.
Ronak C. Patel : Barred