The following information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, June, 2013,” by Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552.
Sharon Mae Perdue (CRD #2537681, Registered Principal, Longmont, Colorado)
was fined $15,000 and suspended from association with any FINRA member in any capacity for two years. Without admitting or denying the findings, Perdue consented to the described sanctions and to the entry of findings that she entered all of her trades in some over-the-counter securities as being unsolicited when, in fact, such trades were solicited, and, by this means, mismarked numerous trades, thereby causing her firm’s books and records to be inaccurate.
FINRA’s findings also stated that Perdue exercised discretion in customers’ accounts. Some of the customers verbally authorized Perdue to make trades in their accounts without requiring her to contact them on the same day of the trade. Other customers authorized Perdue to follow an agreed-upon investment strategy, but she did not always effect the trades on the same day as her discussion with the customers. None of the customers had provided written authorization to Perdue to exercise such discretion, and she did not have the firm’s prior written acceptance of any discretionary account.
Additionally, the findings also stated that Perdue sent misleading email communications to some customers that failed to disclose material information about the securities she recommended, included false and/or misleading information, contained predictions and/or projections of future price performance for securities, and failed to include a reasonable basis for the securities she recommended. These findings also included that Perdue made material misrepresentations to customers, when she made improper price predictions and promised unrealistic returns regarding certain over-the-counter securities she had recommended to the customers.
FINRA found that Perdue recommended and sold a low-priced, over-the-counter security to customers who were seniors. When Perdue made the recommendations and sales, she did not have reasonable grounds for believing that the recommendations were suitable based on each customer’s other security holdings, financial situation and needs.
The suspension is in effect from April 15, 2013, through April 14, 2015.
(FINRA Case #2010025477001)
It is listed on FINRA’s BrokerCheck that Sharon Mae Perdue was previously registered with FINRA at the following brokerage firms:
LPL FINANCIAL LLC
01/2005 – 05/2011
ST. LOUIS, MO
12/2001 – 01/2005
A. G. EDWARDS & SONS, INC.
ST. LOUIS, MO
03/2001 – 09/2001
This ends the information obtained on FINRA’s website.
The Soreide Law Group represents clients nationwide before FINRA. If you have sustained investment losses due to your stock broker/financial advisor’s recommendations, call for a free consultation with an attorney on how to potentially recover those losses: 888-760-6552.