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.
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