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.
July 2010
Blaine Carter Davis
AWC/2009016750801/July 2010
Davis converted $69,200 of customers’ funds from his member firm’s active assets accounts for his personal use. Davis wrote checks made payable to the order of “cash,” enabling him to withdraw funds from customers’ active assets accounts, and then deposited the withdrawn funds into his personal bank account. Davis forged the customers’ signatures on the checks before negotiating them.
Blaine Carter Davis: Barred
Tags:  Check    Forgery    Banks     |    In: Cases of Note : FINRA
Enforcement Actions