Proceeding Number 2005003437102

Extended Hearing Panel Decision in Department of Enforcement v. Michael Lee Bullock

April 17, 2009

For accepting directed brokerage payments, making misrepresentations to clients concerning directed brokerage and investigations, and failing to inform his firm of receipt of a payment directly from an investment company, all in violation of Conduct Rule 2110; requesting or arranging for the direction of brokerage commissions conditioned on sales in violation of Conduct Rules 2830(k)(4) and 2110; and accepting a direct payment from an investment company in violation of Conduct Rules 2830(l)(1) and 2110, Respondent is suspended for six months in all capacities and fined $50,000. Respondent is suspended in all principal capacities for an additional six months and ordered to re-qualify as a principal before acting in the capacity of principal. Respondent is also ordered to pay costs.

 

This decision has been appealed.

View Decision (PDF 132 KB)