Enforcement Actions
Financial Industry Regulatory Authority (FINRA)
CASES OF NOTE
2009
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.
December 2009
Anthony Brent Faithauer
AWC/2008016455601/December 2009
AWC/2008016455601/December 2009
Faithauer misappropriated approximately $853,795 from customers for his own personal benefit. Faithauer misappropriated the funds by forging customers’ signatures on checks, distribution forms and withdrawal slips without their knowledge or authorization and by converting insurance premiums and funds surrendered froma customer’s fixed annuity.
Faithauer borrowed $90,000 from a customer contrary to his member firm’s written procedures that prohibited registered representatives from borrowing money or securities from customers under any circumstances. Faithauer failed torespond to FINRA requests for information.
Faithauer borrowed $90,000 from a customer contrary to his member firm’s written procedures that prohibited registered representatives from borrowing money or securities from customers under any circumstances. Faithauer failed torespond to FINRA requests for information.
Anthony Brent Faithauer: Barred
Hubert William Pereira
AWC/2008014390201/December 2009
AWC/2008014390201/December 2009
Pereira falsified customer signatures on copies of financial planning service agreements and on an insurance illustration form, and submitted the falsified documents to his member firm. The customers had not authorized Pereira to sign their names on the subject forms, but the customers had previously signed original forms that were submitted to the firm, and the forms Pereira falsified were copies of the originals that he submitted to his principal.
Hubert William Pereira: Fined $5,000; Suspended 4 months
Tags: Signature | In: Cases of Note : FINRA
Enforcement Actions
Tags
- 529 College Savings Plan
- AML
- Annual Compliance Certification
- Annuity
- ATM
- Away Accounts
- Bank
- Blank Forms
- Borrowing
- Broadcast
- Changes Of Address
- Checks
- CIP
- Class B Shares
- Clearing Agreement
- Communications
- Cooperation Agreement
- Corporate Credit Card
- Debit Card
- Deceased
- Disabled
- Discretion
- Elderly
- Electronic Communications
- Escrow
- Expenses
- False Professional Designation
- False Statements
- FOCUS
- Forgery
- Gifts
- Guaranteeing Against Losses
- Heightened Supervision
- Inaccurate Information To FINRA
- Increase The Number Of RRs
- Instant Messaging
- Internet
- Joint Account
- JWillfully
- Markdowns
- Markups
- Membership Agreement
- Minimum Contingency
- Mispricing
- MSRB
- Mutual Funds
- NAC
- Net Capital
- No Objections Letter
- NSF
- Orders
- OTR
- Ownership Change
- Parking
- Personal Bank Records
- Pre-arranged Trading
- Private Placement
- Private Securities Transaction
- Qualified Independent Underwriter
- Registration Of Supervisors
- Reg T
- REIT
- Retirement
- Rule 1017
- SAR
- Scripts
- Service Fee
- Sharing Commissions
- Shelf Offering
- Signature
- SIPC
- Solicited
- Statutory Underwriters
- Suitability
- Supervision
- Supervisory System
- Surrender Charge
- Surrender Charges
- Telemarketing
- Time And Price Discretion
- Timely Amend
- UIT
- Unregistered Branch Offices
- Unregistered Person
- Unregistered Principal
- Unregistered RRs
- Unregistered Securities
- Variable Annuity
- Web Sites
- Willfully
- Written Communications
- WSPs