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
Michelle Ruth Damon
AWC/2007010593201/December 2009
Damon exercised discretion in customersí accounts without having obtained written customer authorization that her firm would find acceptable. Damon exercised time and price discretion after the business day on which the customer granted such discretion without the customerís written authorization.
Michelle Ruth Damon: Fined $10,000; Suspended 10 business days in all capacities
Tags:  Time And Price Discretion     |    In: Cases of Note : FINRA
November 2009
Donald Louis Andersen
AWC/2007010593701/November 2009
Andersen exercised discretion in customersí accounts without first having obtained written customer authorization that his firm would find acceptable and, without the customerís written authorization, exercised time and price discretion after the business day on which the customer granted discretion.
Donald Louis Andersen: Fined $10,000; Suspended 10 business days in all capacities
Tags:  Discretion    Time and Price Discretion     |    In: Cases of Note : FINRA
Enforcement Actions
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