Jeff Yuejian Pan (CRD # 3141317, Registered Principal, Suwanee, Georgia) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for 18 months. The fine must be paid either immediately upon Pan’s reassociation with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier. Without admitting or denying the findings, Pan consented to the described sanctions and to the entry of findings that he completed and submitted to his member firm variable universal life insurance applications for public customers on which he falsified the customers’ states of residence in order to circumvent state registration requirements because Pan was not registered in the states in which the customers resided. The findings also stated that Pan provided false financial information on an insurance application in connection with the purchase of a life insurance policy by a corporation he owned in order to obtain approval of the policy.

The suspension is in effect from January 20, 2009, through July 19, 2010. (FINRA Case # 2007010636701)