Kelly Demetrius Wright (CRD # 2062526, Registered Principal, Chicago, Illinois) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Wright consented to the described sanction and to the entry of findings that he exercised discretion in effecting stock and option transactions in public customers’ accounts without the customers’ prior written authorization and without his member firm’s acceptance of the accounts as discretionary. The findings stated that Wright engaged in unsuitable and excessive trading strategies in customers’ accounts in view of their financial situations and investment objectives. The findings also included that, in pursuing the aggressive trading strategy in the customers’ accounts, Wright acted with intent to defraud or with reckless disregard for the customers’ best interest in order to generate commissions. FINRA found that Wright, directly or indirectly, in connection with the purchase or sale of securities, by the use of means or instrumentalities of interstate commerce or of the mails, employed devices, schemes or artifices to defraud; made untrue statements of material fact or omitted to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; and engaged in acts, practices or courses of business that operated, or would operate, as a fraud or deceit upon purchasers or prospective purchasers. FINRA also found that Wright engaged in outside business activity, outside the scope of his relationship with his member firm, and without prior written notice to the firm. (FINRA Case # 2005000346102)