Broker Censured, Suspended and Fined by FINRA for Failure to Report Felony

Randy Craig Hester (CRD #1382578, Registered Representative, Highland Park, Illinois)

was censured, fined $5,000 and suspended from association with any member firm in any capacity for one year. The fine must be paid either immediately upon Hester’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, Hester consented to the described sanctions and to the entry of findings that he willfully failed to notify his member firm that he had been charged with a felony and failed to update his Form U4 to reflect he had been charged with a felony.

These findings stated that when Hester joined another member firm, he submitted a Form U4 on which he falsely responded to the criminal disclosure question by failing to willfully report that he had been charged with a felony. After his firm received a FINRA disclosure review letter in connection with his background check and fingerprint card results, Hester signed and submitted an amended Form U4 reporting his felony charge.

This FINRA suspension is in effect from May 7, 2012, through May 6, 2013.

(FINRA Case #2011029620401)

This information was on FINRA’s website under “Disciplinary and Other FINRA Actions, June, 2012.

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