Proceeding Number 2009018377601

Hearing Panel Decision in Department of Enforcement v. Michael J. Binstock

November 19, 2012

For falsifying customer account documents, in violation of NASD Rule 2110 and FINRA Rule 2010, and causing his firm to have inaccurate records, in violation of NASD Rules 3110 and 2110 and FINRA Rule 2010, Respondent is suspended for four months and fined $25,000.  For settling a customer claim away from his former firm, in violation of NASD Rule 2110 and FINRA Rule 2010, Respondent is fined $5,000.  In addition, Respondent is ordered to pay the costs of this proceeding. The unauthorized transaction charge, alleging a violation of NASD Rule 2110 and FINRA Rule 2010, is dismissed.

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