Cantrell participated in sales of universal lease programs (ULPs) totaling $763,888.82 to members of the public, failed to provide his member firm with written notice about the sales and failed to obtain the firm’s written approval.
Cantrell provided false information to his firm. He completed and submitted an outside business activities questionnaire form in which he falsely stated he conducted no business using a DBA (doing business as), falsely responded whether any other company or individual employed him, falsely disclosed that he was not involved with outside business activities, and answered “yes” that he was aware he could not engage in outside business activities or private securities transactions, directly or indirectly, without prior written firm approval.
Cantrell participated in a sale of a total of $210,547.05 worth of ULPs to individuals at another member firm and failed to provide the firm with written notice about the sales or obtain the firm’s written approval. Cantrell received approximately $94,070 in commissions from his sale of the ULPs while registered with both firms.
Thomas Colby Cantrell: In light of Cantrell’s financial status, no fine was imposed; Suspended 12 months