Enforcement Actions
Financial Industry Regulatory Authority (FINRA)
CASES OF NOTE
2011
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.
December 2011 - View all for this month
Thomas William Scanlon
AWC/2010024313001
Scanlon impersonated customers and a registered representative in order to obtain confidential customer information from his former member firm

Scanlon made telephone calls to his former firm’s customer service line in order to obtain confidential customer information concerning certain of his former clients accounts still maintained at that firm. Scanlon was no longer the agent of record on the customer accounts and, therefore, was not entitled to access to this confidential information. Scanlon made a number of telephone calls to his former firm’s customer service line in which he impersonated the registered representative at that firm who had been assigned to a number of Scanlon’s former customer accounts. Scanlon sought the confidential customer information in order to facilitate discussion during his upcoming meetings with the customers about possibly transferring their accounts to his new employer member firm.
Thomas William Scanlon: Fined $7,500; Suspended 3 months
Tags: Impersonation  
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