Enforcement Actions
Financial Industry Regulatory Authority (FINRA)
PRIVATE SECURITIES TRANSACTIONS
2009
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.
William Edward Cline (Principal)
AWC/2007011308401
Cline engaged in private securities transactions without prior written notice to, or prior approval from, hismember firm. The findings stated that Cline engaged in outside business activities without prompt written notice to his firm. Cline provided false information about his private securities transactions and outside business activities on firm compliance questionnaires. 
William Edward Cline (Principal): Barred
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