Proceeding Number 2006005786501

Hearing Panel Decision in Department of Enforcement v. Padilla and Ritchie

October 18, 2010

Respondents Joseph A. Padilla and Andrea M. Ritchie violated NASD Conduct Rule 2110 by selling unregistered securities in violation of Section 5 of the Securities Act of 1933.  For these violations, Respondents are suspended for six months from associating with any member firm in any capacity and fined $10,000 each.  In addition, Respondents are ordered to disgorge all commissions earned from the unlawful sales of the securities that were the subject of the Complaint.

This decision has been appealed.

View Decision (PDF 180 KB)