Proceeding Number 2008014621701
Extended Hearing Panel Decision in Department of Enforcement v. Thomas Weisel Partners, LLC and Stephen H. Brinck, Jr.
November 8, 2011
For failing to have adequate supervisory systems and procedures, in violation of Conduct Rules 3010 and 2110, Respondent TWP is fined $200,000. TWP was also ordered to pay the costs of the hearing. Enforcement failed to prove that Respondents Brinck and TWP made fraudulent sales of auction rate securities to customers in violation of Section 10(b) and Rule 10b-5 of the Securities Exchange Act, and Conduct Rules 2120 and 2110. Enforcement also failed to prove that Respondent TWP provided false information to FINRA in violation of Rules 8210 and 2110; or that TWP gave false and misleading information to customers in violation of Conduct Rules 2110 and 2010. Accordingly, those charges are dismissed.
This decision has been appealed.
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