DEPARTMENT OF ENFORCEMENT, Complainant, v. CALVIN LEE GRAY (CRD No. 7575351), Respondent. Disciplinary Proceeding No. 2024083063101 Hearing Officer–MJD DEFAULT DECISION June 26, 2025 Respondent Calvin Lee Gray is barred from associating with any FINRA member firm in any capacity for failing to comply with requests for information and documents during a FINRA investigation, in violation of FINRA Rules 8210 and 2010.

DEPARTMENT OF ENFORCEMENT, Complainant, v. ISHMAEL WILLIAMS (CRD No. 6128916), Respondent. Disciplinary Proceeding No. 2023079728601 Hearing Officer–MJD DEFAULT DECISION June 17, 2025 Respondent Ishmael Williams is barred from associating with any FINRA member firm in any capacity for providing false and misleading written responses and testimony during an investigation and for failing to respond to requests for information and documents, in violation of FINRA Rules 8210 and 2010.

DEPARTMENT OF ENFORCEMENT, Complainant, v. SANTIAGO J. TORRES (CRD No. 5644622), Respondent. Disciplinary Proceeding No. 2024083132901 Hearing Officer–MPD DEFAULT DECISION June 12, 2025 Respondent is barred from associating with any FINRA member firm in any capacity for failing to provide information and documents and failing to appear for on-the-record testimony, as requested in connection with a FINRA investigation, in violation of FINRA Rules 8210 and 2010.

DEPARTMENT OF ENFORCEMENT, Complainant, v. MICHAEL BARROWS (CRD No. 2933260), and ERIC JOHN LUDOVICO (CRD No. 2932082), Respondents. Expedited Proceeding Nos. ARB250005 and ARB250007 RCM Nos. 20250849589 and 20250849777 Hearing Officer–LOM EXPEDITED DECISION May 7, 2025 For their failure to pay a FINRA arbitration award in favor of a customer, Respondents are suspended from associating with any FINRA member firm in any capacity until they comply with the award or establish one of the recognized defenses to a suspension for failure to pay.