Alexis Jose Rivera (CRD #1656738, Registered Principal, Tampa, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any NASD member in any capacity. Without admitting or denying the findings, Rivera consented to the described sanction and to the entry of findings that he engaged in a fraudulent trade allocation or “cherry picking” scheme, in that certain of his member firm’s representatives aggregated retail customers’ day trading orders and communicated an opening transaction to Rivera, who would work the order in a firm proprietary account to sometimes allocate a first profitable trade to a relative’s personal account and the resulting loss to the customers’ accounts. The findings stated that Rivera failed to give the affected customers best execution. (NASD Case #2005002440801)

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