Proceeding Number 2009019837302

Hearing Panel Decision in Department of Enforcement v. Blair C. Mielke, Frederick W. Shultz, Thomas J. Gorter and Michael L. Trier

September 20, 2012

Respondents Blair C. Mielke, Thomas J. Gorter, Frederick W. Shultz, and Michael L. Trier engaged in private securities transactions, in violation of NASD Rules 2110, 3040, and FINRA Rule 2010. In addition, Respondents Mielke, Gorter, and Shultz engaged in the following misconduct:

 

  • Respondent Mielke engaged in outside business activities, in violation of NASD Rules 3030, 2110, and FINRA Rule 2010; made misstatements on compliance questionnaires of a FINRA member firm, in violation of NASD Rule 2110 and FINRA Rule 2010; and failed to respond timely to requests for information, in violation of FINRA Rules 8210 and 2010.
  • Respondent Gorter caused inaccurate entries to be made in the books and records of a FINRA member firm, in violation of NASD Rule3110 and FINRA Rule 2010, and failed to respond timely to a request to provide on-the-record testimony, in violation of FINRA Rules 8210 and 2010.
  • Respondent Shultz engaged in outside business activities, in violation of NASD Rule 3030 and FINRA Rule 2010; caused inaccurate entries to be made in the books and records of a FINRA member firm, in violation of NASD Rule 3110 and FINRA Rule 2010; made misstatements on compliance questionnaires of a FINRA member firm, in violation of FINRA Rule 2010; misused customer funds, in violation of FINRA Rules 2150 and 2010; and failed to appear timely to provide on-the-record testimony, in violation of FINRA Rules 8210 and 2010.

 

The Hearing Panel imposes the following sanctions: Respondents Mielke, Gorter, and Shultz are barred from associating with any FINRA member firm in any capacity; Respondent Trier is suspended from associating with any FINRA member firm in any capacity for 30 business days, and fined $2,500.

 

This decision has been appealed.

View Decision (PDF 254 KB)