Peter Schmitt Jr. (CRD # 1708137, Registered Representative, Plymouth, Wisconsin) 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, Schmitt consented to the described sanction and to the entry of findings that while he was the executive secretary for a private association, he opened a securities account for the association at a member firm without authority to do so and later transferred the association’s securities account to another member firm. The findings stated that Schmitt opened another unauthorized securities account in the association’s name at this firm that was a deferred compensation account for Schmitt’s financial benefit. The findings also stated that Schmitt caused securities transactions to be effected in the association’s securities accounts without the association’s knowledge or consent, and in the absence of written or oral authorization to exercise discretion in the accounts. The findings also included that Schmitt submitted false and misleading Resolution Agreements when he opened the accounts, certifying that the Association’s Board of Directors had voted to open the accounts when, in fact, there had not been any such vote. FINRA found that Schmitt opened a joint securities account in his and his wife’s names at the firm but failed to disclose the existence of the securities accounts in which he had a financial interest to his member firms, and failed to advise the firm with which he had the accounts, in writing, that he was a registered representative with other firms. FINRA found that Schmitt failed to give prior written notice of his intention to execute securities transactions with the firm where he maintained the accounts to a member firm. (FINRA Case # 2006005570801)