TAG | broker contacting customers through personal email
Comments off · Posted by Securities Lawyer in FINRA
William Edward Herlihy (CRD #4005879, Registered Principal, Deltona, Florida)
submitted a Letter of Acceptance, Waiver and Consent in which he was fined $50,000 and suspended from association with any FINRA member in any capacity for six months. The fine must be paid either immediately upon Herlihy’s reassociation with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier.
Without admitting or denying the findings, Herlihy consented to the described sanctions and to the entry of findings that he effected the sales of stock that was not registered with the SEC, and no exemption from registration applied. The findings stated that the transactions generated proceeds of approximately $386,000 for the customers. The findings also stated that despite the questionable circumstances surrounding the transactions, Herlihy failed to conduct a “searching inquiry” to ensure that the sales did not violate Section 5 of the Securities Act of 1933. The findings also included that Herlihy communicated with several of his customers through his personal email account in contravention of his member firm’s written procedures, thereby interfering with the firm’s supervision and retention of electronic communications and contravened its written procedures.
The suspension is in effect from March 5, 2012, through September 4, 2012.
(FINRA Case #2009019534201)
Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented clients nationwide. If you or a family member have sustained investment losses due to your stock broker or financial advisor’s recommendations, call for a free consultation on how to potentially recover your losses. To speak with an attorney call 888-760-6552, or visit our website at: www.securitieslawyer.com.
Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
boker failing to conduct searching inquiry · broker contacting customers through personal email · broker selling unregistered stock · brokers recommending risky investments · fail to supervise registered representative · failure to supervise brokers · Financial Industry Regulatory Authority · FINRA · FINRA arbitration · FINRA brokercheck · finra lawyer · finra securities arbitration · finra securities arbitration lawyer · fort lauderdale securities fraud lawyer · high risk investments · inadequate supervisory procedures by broker/dealers · Lars K. Soreide · Lars K. Soreide Soreide Law Group · securities lawyer · Soreide Law Group PLLC · Stock fraud lawyer · stockbroker misconduct · supervisory failures · William Edward Herlihy Deltona FL · William Herlihy fined by FINRA