Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552, obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2013.”
Debra Kay Littlefield (CRD #2312877, Registered Representative, Inman, South Carolina)
was fined $5,000 and suspended from association with any FINRA member in any capacity for two months. Without admitting or denying the findings, Littlefield consented to the described sanctions and to the entry of findings that she recommended that certain customers purchase variable annuity policies and senior common stock in a real estate investment trust (REIT) with funds sourced from the customers’ existing and recently liquidated fixed and variable annuities.
FINRA's findings stated that Littlefield falsified her firm’s books and records by completing and submitting documents without showing the sources of funds as annuities and not accurately disclosing those transactions that were replacements. Littlefield’s firm required her to accurately disclose the sources of funds and whether the transactions were replacements. By failing to identify replacement transactions on firm records, Littlefield caused her firm’s books and records to be inaccurate.
The suspension is in effect from June 17, 2013, through August 16, 2013. (FINRA Case #2010025732001)
According to FINRA's BrokerCheck, Debra Littlefield is currently employed by and registered with the following FINRA Firm:
SOUTHEAST INVESTMENTS, N.C., INC.
233 E. BLACKSTOCK RD.
SUITE E
SPARTANBURG, SC 29301
CRD# 43035
Registered with this firm since: 6/13/2011
This broker was previously registered with FINRA at the following brokerage firms:
ING FINANCIAL PARTNERS, INC.
CRD# 2882
SPARTANBURG, SC
01/2009 - 06/2011
WACHOVIA SECURITIES, LLC
CRD# 19616
SPARTANBURG, SC
06/2002 - 01/2009
WACHOVIA SECURITIES, INC.
CRD# 431
CHARLOTTE, NC
02/2000 - 06/2002
This ends the information obtained on FINRA’s website.
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