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.

Fredric Henry Gardner
AWC/2009020196301

Gardner engaged in outside business activities by serving as the chief financial officer of a start-up company, and failed to provide prompt written notice to his member firm of any outside business activities and to obtain a designated firm principal’s prior permission before accepting any position as officer or director of another entity, contrary to his firm’s written policies and procedures. While serving as the start-up company’s chief financial officer, Gardner converted the entity’s funds for his personal use by writing fraudulent checks without the entity’s knowledge or permission. Gardner solicited and accepted $15,000 from an individual as an investment in the entity but converted the funds for his personal use.

Fredric Henry Gardner: Barred

Tags: Checks