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.

Alan Ray Tatgenhorst
2008014828301

Tatgenhorst failed to respond to FINRA requests for information and documents.

Tatgenhorst borrowed a total of $33,028 from his member firm’s customers, signed a promissory note to the customers documenting the existence of the loans, at a time when his member firm did not have written procedures allowing borrowing money from customers and Tatgenhorst did not request or obtain permission from the firm to enter into the loan transactions, but later admitted the facts to FINRA and submitted a written statement to his firm admitting he borrowed the money from the customers. The customers filed a civil action against Tatgenhorst to recover the loan balance, which led to the court entering judgment against him in the amount of $33,028, plus interest. Tatgenhorst did not pay the judgment and his firm paid the customers $7,000 in settlement of any claims they had against the firm.

Alan Ray Tatgenhorst : Barred

Tags: Borrowing