Thomas Eugene Hendricks (CRD #2622427, Registered Representative, Salem, Ohio)
was barred from association with any FINRA member in any capacity. Without admitting or denying thefindings, Hendricks consented to the described sanction and to the entry of findings that he borrowed $3,000 from a customer/personal friend to be repaid by a certain date, but failed to do so, and the customer complained to Hendricks’ member firm.
These findings also stated that Hendricks’ firm’s written procedures prohibited borrowing from customers unless the firm approved an exception, which he did not obtain, and did not disclose to the firm that he had borrowed money from the customer. The borrowing arrangements did not fit into any of the exceptions provided for in the firm’s procedures and did not otherwise meet the conditions set forth in FINRA Rule 3240.
The FINRA findings also stated that Hendricks failed to respond to FINRA requests for information and sent FINRA an email indicating that he did not plan on providing a substantive response as he was no longer in the securities business.
(FINRA Case #2011028801901)
This information was found on FINRA’s website under “Disciplinary and Other Actions, June, 2012."
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