Enforcement Actions
Financial Industry Regulatory Authority (FINRA)
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.
February 2011 - View all for this month
Carson Jay Woods
Certain states implemented a LTC CE requirement that obligated financial advisors to complete a LTC CE course and exam before selling LTC insurance products.In order to assist financial advisors with the LTC CE requirement, Woods created an answer key for one state exam, distributed the answers for the exam to other firm representatives and distributed a portion of the answers for the exam to a non-firm employee.
Carson Jay Woods : Fiend $5,000; Suspended 60 days.
Tags: Testing  
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