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 2010
Antonio Gata Bolinao Sr.
AWC/2009017831001/November 2010
Bolinao willfully failed to disclose material information on his Form U4. Bolinao submitted Business Practice Questionnaires to his firm and each time falsely denied the existence of any liens or judgments against him. Bolinao did not acknowledge the existence of the undisclosed information until after his member firm learned of the information during its investigation of an unrelated customer complaint. Bolinao subsequently stated that he did not disclose the information because he believed that the firm would terminate him.
Antonio Gata Bolinao Sr.: Fined $5,000; Suspended 9 months
Tags:  Willfully         |    In: Cases of Note : FINRA
January 2010
Darren Kai Yun Lee
AWC/2008016450001/January 2010
Associated Person Lee willfully made false statements with respect to material facts on his Form U4 and failed to respond to FINRA requests for information.
Darren Kai Yun Lee: Fined $5,000; Suspended 2 years
Tags:  Willfully     |    In: U4, U5, RE-3, Rule 3070
James Edward Smalley
2008012666801/January 2010
Associated Person Smalley failed to respond to FINRA requests for information and willfully failed to disclose material facts on his Form U4.
Tags:  Willfully     |    In: U4, U5, RE-3, Rule 3070
Enforcement Actions