Proceeding Number 2010024889501

Extended Hearing Panel Decision in Department of Enforcement v. William B. Fretz, Jr., John P. Freeman, and The Keystone Equities Group, LP

May 30, 2013

Respondents William B. Fretz, Jr. and John P. Freeman misused customer funds in violation of NASD Rules 2330(a) and 2110, and FINRA Rules 2150(a) and 2010, and made misrepresentations and omissions of material fact to investors, in violation of NASD Rule 2110 and FINRA Rule 2010. Respondents Fretz, Freeman, and The Keystone Equities Group, LP provided misleading information to FINRA, in violation of FINRA Rules 8210 and 2010. Respondent Fretz filed a false Form U4 and failed to update his Form U4, in violation of FINRA Rules 1122 and 2010. For their misconduct, Fretz and Freeman are barred from associating with any FINRA member firm in any capacity, and The Keystone Equities Group is fined $25,000.

 

The Keystone Equities Group is not liable for providing misleading brokerage statements to 11 customers.

 

This Decision has been appealed.

View Decision (PDF 228 KB)