Articles Posted in FINRA Enforcement Actions 2011

April 2011 FINRA Accocunt Executive Enforcement Action: David Lewis Conner (CRD #2021704, Registered Representative, Gastonia, North Carolina formerly licensed with Midamerica Financial Services, Inc. and Southeast Investments, N.C., Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $15,000 and suspended from association with any FINRA member in any capacity for…

April 2011 FINRA Account Executive Enforcement Action: Jeryl Wayne Clegg (CRD #2542818, Registered Representative, Powder Springs, Georgia, formerly licensed with Midsouth Capital, Inc.) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Clegg consented to the described sanction and…

FINRA 2011 Account Executive Enforcement Action: Thomas Anthony Chrestman (CRD #1135841, Registered Representative, Cordova, Tennessee, currently licensed with Saxony Securities, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $20,000 and suspended from association with any FINRA member in any capacity for three months. Without admitting or denying the findings,…

April 2011 Account Executive Enforcement Action: Gary Chew (CRD #1966956, Registered Representative, Lafayette, California, formerly licensed with BrokerExpress, LLC.) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for three months. The fine must be paid either immediately upon…

April, 2011: Securities Corporation (CRD #31898, Eden Prairie, Minnesota) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and ordered to pay $700,000 in partial restitution to investors. The firm was also ordered to certify in writing to FINRA that it has established and implemented a system and procedures reasonably…

FINRA Private Placement and Variable Annuity Fraud and Breach of Fiduciary Duty Arbitration Attorney, Russell L. Forkey, Esq. April, 2011: Woodrock Securities, L.P. (CRD #133653, Houston, Texas) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $10,000. Without admitting or denying the findings, the firm consented to the…

April, 2011: Woodrock Securities, L.P. (CRD #133653, Houston, Texas) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $10,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to ensure that investor funds from an…

FINRA Variable Annuity Fraud and Breach of Fiduciary Duty Arbitration Attorney, Russell L. Forkey, Esq. March, 2011: Purshe Kaplan Sterling Investments, Inc. (CRD #35747, Albany, New York) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $100,000. Without admitting or denying the findings, the firm consented to the…

Purshe Kaplan Sterling Investments, Inc. (CRD # 35747, Albany, New York) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $100,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to establish, maintain and/or enforce…

FINRA Private Placement and Variable Annuity Fraud and Breach of Fiduciary Duty Attorney, Russell L. Forkey, Esq. March, 2011: Noble International Investments, Inc. (CRD #15768, Boca Raton, Florida) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $27,500. Without admitting or denying the findings, the firm consented to…