Securities Lawyer Blog | Victim of Fraud?

TAG | broker not telling firm about activity

Apr/12

26

Ponte Vedra Beach, FL, Rep Fined and Suspended by FINRA

Comments off · Posted by Securities Lawyer in FINRA

The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:”
 

James Calvin Wylie Jr. (CRD #834405, Registered Representative, Ponte Vedra Beach, Florida) 

submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for one month. Without admitting or denying the findings, Wylie consented to the described sanctions and to the entry of findings that he engaged in unapproved outside business activities when he provided consulting and analytical services on potential business transactions, outside the scope of his relationship with his member firm and without providing prompt written notice to his firm. The findings stated that Wylie inaccurately certified on an annual outside business activities questionnaire that he was not involved in any outside business activities.

This suspension was in effect from March 5, 2012, through April 4, 2012.

(FINRA Case #2010024027601)

 

The information from FINRA’s website has ended.
 
Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented clients nationwide.
For a free consultation with an attorney, please call 888-760-6552, or visit our website at: www.securitieslawyer.com.

 

 

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Feb/12

29

Weston, FL, Rep Sanctioned by FINRA

Comments off · Posted by Securities Lawyer in FINRA

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, February 2012.”
 
Jeffrey Scott Donner (CRD #2631248, Registered Principal, Weston, Florida)
 
was barred from association with any FINRA member in any capacity. The sanction was based on findings that Donner executed several unauthorized transactions in customers’ accounts at his member firm without their knowledge and consent.
 
These findings stated that Donner exercised discretion in a customer’s account without written authorization; Donner neither sought nor obtained the customer’s or his member firm’s authorization.
 
These findings also stated that Donner used his personal email account to send business-related emails to customers and admitted to FINRA that he used an unapproved, personal email account to send emails to and receive emails from his customers.
 
The findings also included that his firm’s WSPs required that the firm review email communication between registered representatives and customers, but Donner did not forward any of these emails to the firm for review. FINRA found that Donner’s use of his personal email account prevented his firm from accessing these customer communications and complying with its obligations to review correspondence between registered representatives and their customers, and from complying with its recordkeeping requirements.
(FINRA Case #2009020228501)
The information from FINRA’s website has ended.
 
Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented clients nationwide.
For a free consultation with an attorney, please call 888-760-6552, or visit our website at: www.securitieslawyer.com.

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