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.
November 2009
Oswald Victor Paredes
AWC/2009018461601/November 2009
Paredes linked his 529 college savings plan accounts to an individual’s bank account, transferred $3,900 from the individual’s bank account to the plan accounts, without the bank account holder’s authorization or consent, and misappropriated the funds for his personal use.
Oswald Victor Paredes: Barred
Tags:  529 College Savings Plan    Bank     |    In: Cases of Note : FINRA
Samuel James Mugavero Jr.
AWC/2008014827501/November 2009
Registered Principal Mugavero borrowed $10,000 from a firm customer contrary to his firm’s written policies prohibiting registered representatives from borrowing money from customers, and he failed to notify the firm about the loan. Mugavero repaid $1,000 of the loan but $9,000 remains outstanding. Mugavero failed to respond to FINRA requests to provide personal bank records.
Samuel James Mugavero Jr.: Barred
Tags:  Borrowing    Personal Bank Records     |    In: Cases of Note : FINRA
Thomas Wayne O’Keefe
AWC/2009017258701/November 2009
O'Keefe took funds that belonged to his member firm’s bank affiliate totaling approximately $14,000 without the bank’s permission and consent by disabling the bank’s computer system that validated customer account balances and then cashing a $3,000 check. O’Keefe also raised his cash limit on his bank debit card, posted the funds to his bank checking account and then withdrew funds totaling approximately $11,000. O’Keefe failed to respond to FINRA requests for information.
Thomas Wayne O’Keefe: Barred
Tags:  Bank    Debit Card     |    In: Cases of Note : FINRA
Enforcement Actions