Enforcement Actions
Financial Industry Regulatory Authority (FINRA)
CASES OF NOTE
2012
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.
January 2012
Jimmy Mitchel Davidson
AWC/2010024519401/January 2012
Davidson engaged in outside business activities without providing prompt written notice to his member firm.

Davidson began creating Internet advertisements, which were not related to the securities industry or investments. In exchange for a fee, Davidson offered to create advertisements, arrange for the postings, with pictures, on various Internet sites, and assist the advertisers in replying to emails from potential customers. Davidson earned approximately $6,000 for his outside business activities. 

Davidson completed his firm’s annual compliance questionnaires, on which he falsely represented that he had not engaged in any undisclosed outside business activity.
Jimmy Mitchel Davidson: Fined $7,500; Suspended 30 days
Tags:  Internet     |    In: Cases of Note : FINRA
Bill Singer's Comment
Oh for godsakes, really?  $7,500 fine and a 30-day suspension because he set up an internet business without prior notice. Gimme a break with this one.
Enforcement Actions
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