Proceeding Number 2005001988201

Amended Hearing Panel Decision in Department of Enforcement v. Mark B. Beloyan and Tradespot Markets, Inc.  

August 6, 2010

The Respondents violated Conduct Rules 2210 and 2110 by recommending the purchase of securities in e-mails that were unbalanced, misleading, and omitted material facts, and Conduct Rules 2315 and 2110 by recommending to customers an OTC equity without reviewing current financial statements for the issuer.  For violating Rule 2210, the Respondents were fined, jointly and severally, $10,000, and Beloyan was suspended from associating with any member firm in any capacity for ten business days.  For violating Rule 2315, the Respondents were fined, jointly and severally, $3,500.   

 

This decision has been appealed.

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