Soreide Law Group, (888) 760-6552, has obtained this summation of information on FINRA’s website under “Disciplinary and Other FINRA Actions, March, 2014.”
Edward Shea Brokaw (CRD #1162997, Registered Principal, Darien, Connecticut)
was suspended for one year and fined $30,000 by FINRA. This following the SEC sustaining the sanctions following an appeal of a National Adjudicatory Council (NAC) decision.
According to the FINRA report, these sanctions were based on Brokaw engaging in conduct that was inconsistent with the principles of trade. He allegedly engaged in a manipulative scheme, and this also caused his firm’s books and records to be inaccurate.
Brokaw allegedly helped a friend who was an important client, Brokaw stood to personally gain $48,000, and his family to gain an additional $10,000. According to the SEC, Brokaw pushed traders to 'hammer' the stock and sell stock at the opening and closing of the market which could impact the Volume Weighted Average Price.
The suspension is in effect from January 21, 2014, through January 20, 2015.
(FINRA Case #2007007792902)
According to FINRA's BrokerCheck, Edward Shea Brokaw, was previously registered with the following FINRA firm(s):
OPPENHEIMER & CO. INC. (CRD# 249) - STAMFORD, CT
08/2006 - 07/2010
DEUTSCHE BANK SECURITIES INC. (CRD# 2525) - GREENWICH, CT
01/2001 - 07/2006
DB ALEX. BROWN LLC (CRD# 17790) - BALTIMORE, MD
09/1997 - 01/2001
ALEX. BROWN & SONS INCORPORATED (CRD# 20) 11/1993 - 09/1997
STOVER HALEY BURNS, INC. (CRD# 31993) - STAMFORD, CT
06/1993 - 11/1993
NOYES PARTNERS INCORPORATED (CRD# 10128) - NEW YORK, NY
05/1992 - 06/1993
ALEX. BROWN & SONS INCORPORATED (CRD# 20) 09/1983 - 04/1992
This ends the summation of information available on FINRA's website.
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