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.

Craig Lee Randall (Principal)
OS/2008013152301

Randall used a a firm-approved presentation during retail seminars with customers that contained misleading, exaggerated and unwarranted statements, despite his knowledge that FINRA had determined that the presentation violated NASD advertising rules and should not be used; the firm had received a Letter of Caution from FINRA regarding the presentation.

Randall subsequently sought employment with another firm and submitted the presentation to that firm for approval with the intention of using it there; the proposed presentation was modified but still contained much of the violative content he had previously used. Randall knowingly failed to disclose that FINRA had determined that the presentation violated NASD advertising rules and had notified his prior firm of the violations on several occasions, including the Letter of Caution. While employed with the firm, Randall distributed the presentation to other registered representatives to use with their own potential customers.

Craig Lee Randall (Principal): Censured; Fined $35,000; Suspended 7 months