Proceeding Number 2008011675301

Extended Hearing Panel Decision in Department of Enforcement v. Timothy B. Ruggiero

December 31, 2013

Respondent Timothy B. Ruggiero is barred from associating with any FINRA registered firm in any capacity for: (1) engaging in a stock price manipulation in violation of Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder, and in violation of NASD Conduct Rules 2120 and 2110, as described in the First Cause of Action; (2) unlawfully trading in stock during the restricted periods for two offerings, in violation of Rule 101 of Regulation M under the Exchange Act and NASD Conduct Rule 2110, as described in the Second Cause of Action; and (3) forging initials on options order tickets to evidence supervisory review of the transactions, in violation of NASD Conduct Rules 3110(a) and 2110, as described in the Fifth Cause of Action. In addition, Ruggiero failed to: (1) retain electronic communications, in violation of NASD Conduct Rules 3110 and 2110, as described in the Third Cause of Action; and (2) supervise his firm's trading and electronic communications, in violation of NASD Conduct Rules 3010 and 2110, as described in the Fourth Cause of Action. In light of the bar, no additional sanctions are imposed for the violations of the Third and Fourth Causes of Action. Ruggiero is also ordered to pay the costs of this proceeding.

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