Hearing Panel Decision in Department of Enforcement v. Respondent

Proceeding Number 2009018771602

October 12, 2012

Respondent violated NASD Conduct Rules 2310 and 2110 regarding suitability because he did not have a reasonable basis for recommending that an elderly customer invest approximately 47.6% of her liquid net worth in a single Collateralized Mortgage Obligation.  For this violation, Respondent is censured and ordered to pay a fine of $5,000.


This decision has been called for review.

View Decision (PDF 110 KB)