OHO Proceeding Number 2005000075703

Amended Extended Hearing Panel Decision in Department of Enforcement v. Midas Securities LLC, World Trade Financial Corporation, Jason Troy Adams, Frank Edward Brickell, Jay S. Lee and Rodney Preston Michel

May 12, 2009

 

Respondents World Trade, Midas Securities, and Brickell violated NASD Conduct Rule 2110 by selling unregistered securities in violation of Section 5 of the Securities Act of 1933. For this violation World Trade and Brickell are fined $15,000 each, Brickell is suspended from associating with any member firm in any capacity for 30 business days, and Midas Securities is fined $30,000. For related supervisory violations of NASD Conduct Rules 3010 and 2110, Respondent World Trade is fined an additional $15,000, Midas Securities is fined an additional $25,000, Michel is fined $15,000 and suspended in all principal capacities for 45 days, Lee is fined $20,000 and suspended from associating with any member firm in any principal capacity for two years, and Adams is fined $10,000 and suspended from associating with any member firm in any principal capacity for 30 business days.

 

This decision has been appealed.

View Decision (PDF 179 KB)