Enforcement Actions
Financial Industry Regulatory Authority (FINRA)
OUTSIDE BUSINESS ACTIVITIES
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.
Lynda Corean Paul
AWC/2009017978901
Paul sold fixed annuities on an insurance company’s behalf totaling approximately $1 million to members of the public and received approximately $44,000 in commissions. Paul failed to give prompt written notice to her member firm that she was engaging in outside business activities.
Lynda Corean Paul : Fined $5,000; Suspended 2 months
Tags: Annuity  
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