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
Samuel James Mugavero Jr.
AWC/2008014827501/November 2009
Registered Principal Mugavero borrowed $10,000 from a firm customer contrary to his firmís 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
Enforcement Actions