Amended Hearing Panel Decision in Department of Enforcement v. Respondent

Proceeding Number 2009016159102

Respondent acted as the de facto financial and operations principal of a member firm while failing to register as a FINOP for that firm; caused the firm’s books and records to be inaccurate; caused the firm’s calculations of its required net capital and actual net capital to be inaccurate; caused the firm to conduct a securities business with insufficient net capital; and caused the firm to fail to notify the regulatory authorities that it had insufficient net capital. Respondent is censured for these violations of FINRA Rule 2010.

 

The Hearing Officer dissents with respect to sanctions, and would suspend Respondent in all principal capacities for 60 days and impose a $5,000 fine.

 

This decision has been appealed.

View Decision (PDF 115 KB)