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.
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