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.
September 2010
Peggy Sue Harrell
OS/2009019962301/September 2010

Harrell obtained loans from her member firm’s bank affiliate in the names of a relative and another individual by using certificates of deposit (CDs) in the relative’s name as collateral, deposited the loan proceeds in her bank account and withdrew money from the CDs, all without the relative’s knowledge or permission. The findings stated that Harrell embezzled in excess of $1,000 from the bank by fraudulently creating debit tickets from the bank’s general ledger accounts and depositing the money into her own account.

Harrell failed to respond to FINRA requests for information.

Peggy Sue Harrell : Barred
Tags:  Embezzled     |    In: Cases of Note : FINRA
August 2010
Erin Alyse Outten
AWC/2009018117901/August 2010
Associated Person Outten embezzled approximately $39,560 from her employer, an Office of Supervisory Jurisdiction of a member firm. Outten ordered personal items and billed them to her employer’s operating account. Outten made unauthorized wire transfers to herself from the operating account. Outten failed to respond to FINRA requests for information.
Erin Alyse Outten : Barred
Tags:  Embezzled     |    In: Cases of Note : FINRA
Enforcement Actions