Soreide Law Group, at (888) 760-6552, has obtained this summation of information from FINRA’s website listed as “Disciplinary and Other FINRA Actions, February, 2014.”
Charles William Doller III (CRD #2389795, Registered Principal, Yorktown Heights, New York)
was fined $20,000 and suspended for two years by FINRA for allegedly failing to supervise a broker engaged in defrauding clients. According to FINRA, Doller was president and co-owner of a former firm, and was responsible for the supervision of the trading activities of the firm’s co-owner, but failed to prevent or detect the defrauding of the firm’s customers in order to cover losses caused by the individual’s improper day trading of millions of dollars of stock in the firm’s average price account and in customer accounts exceeding $500,000. Allegedly, there were unauthorized purchases of 85,000 shares of stock for customers at fictitious markups averaging more than 200 percent.
FINRA also found that Doller failed to adequately perform daily reviews of the individual’s order tickets or conduct random reviews of transactions the individual entered during any particular trading day.
If there were proper supervision, unauthorized trading in customer accounts could have been prevented and detected. This would have prevented the individual from engaging in fraudulent customer transactions.
The suspension is in effect from January 6, 2014, through January 5, 2016.
(FINRA Case #2012033522902)
Charles William Doller III was previously registered with the following FINRA firm(s):
HUDSON VALLEY CAPITAL MANAGEMENT (CRD# 24162) - CROTON ON HUDSON, NY
12/2009 - 11/2012
WESTOR CAPITAL GROUP, INC. (CRD# 103823) - HERKIMER, NY
05/2012 - 10/2012
LASALLE ST SECURITIES, L.L.C. (CRD# 7191) - CROTON-ON-HUDSON, NY
01/2009 - 12/2009
KIMBALL & CROSS INVESTMENT MANAGEMENT CORP. (CRD# 2438) - CROTON-ON-HUDSON, NY
10/2002 - 12/2008
TRAUTMAN WASSERMAN & COMPANY, INC. (CRD# 33007) - NEW YORK, NY
01/1994 - 11/2002
SPENCER TRASK SECURITIES INCORPORATED (CRD# 28373) - NEW YORK, NY
12/1993 - 12/1993
This ends the summation of information available on FINRA's website.
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