Terrance Reid Pipenhagen (CRD # 716645, Registered Principal, Orlando, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Pipenhagen consented to the described sanction and to the entry of findings that he solicited individuals to invest $475,000 in commodities trading accounts he maintained and controlled. The findings stated that Pipenhagen lost all of the investors’ funds and sent false account statements to the investors in order to conceal their losses and to prevent them from pulling out their investments before he had a chance to recover their losses. The findings also stated that Pipenhagen engaged in private securities transactions without prior written notice to his member firm. (FINRA Case # 2006006849601)