Proceeding Number 2009017899801

Hearing Panel Decision in DOE v. Rani T. Jarkas and William H. Carson

February 7, 2014

Respondent Carson caused the firm's net capital calculations to be inaccurate, in violation of NASD Rules 3110(a) and 2110 and FINRA Rule 2010; allowed the firm to conduct a securities business with insufficient net capital, in violation of NASD Rule 2110 and FINRA Rule 2010; filed inaccurate FOCUS Reports, in violation of NASD Rule 2110 and FINRA Rule 2010; and caused the firm to fail to notify the regulatory authorities that it had insufficient net capital, in violation of FINRA Rule 2010. Respondent Carson is suspended for two months as a FINOP, fined $5,000, and required to requalify as a FINOP.

 

Respondent Jarkas allowed the firm to conduct a securities business with insufficient net capital, in violation of NASD Rule 2110 and FINRA Rule 2010; failed to file an application for approval of a material change in business operations, in violation of NASD Rules 1017(a) and 2110; and failed to appear for testimony, in violation of FINRA Rules 8210 and 2010. Respondent Jarkas is barred for the failure to appear for testimony. In light of the bar, no further sanctions are imposed for his other violations.

 

This decision has been appealed or called for review. While the appeal or call for review is pending, the findings and sanctions imposed in this decision are subject to review and modification by FINRA or the SEC.

View Decision (PDF 138 KB)