Seattle Broker Rhonda Breard Barred for Defrauding Clients, Converting Customer Funds to Personal Use
FINRA Finds Scheme Cost Breard’s Clients At Least $8 Million
The Financial Industry Regulatory Authority (FINRA) announced that it has permanently barred Kirkland, WA, broker Rhonda Lee Breard from the securities industry for defrauding at least 38 clients of at least $8 million [...]

James Cordell Wisdom III (CRD # 5441607, Registered Representative, Norwood, Ohio) 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, Wisdom consented to the described sanction and to the entry of findings that he executed an [...]

Daniel Walsh (CRD # 5333714, Registered Representative, Niantic, Connecticut) submitted a Letter of Acceptance, Waiver and Consent in which he was censured, fined $5,000 and suspended from association with any FINRA member in any capacity for 90 days. Without admitting or denying the findings, Walsh consented to the described sanctions and to the entry of [...]

Maria-Ysabelle Marinas Tiongson (CRD # 4641219, Registered Representative, Bayonne, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which she was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Tiongson consented to the described sanction and to the entry of findings that she misappropriated $4,000 [...]

Jerome Joseph Stellick (CRD # 2665378, Registered Representative, Bonney Lake, Washington) 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, Stellick consented to the described sanction and to the entry of findings that he completed an [...]

Jeffrey Alan Smiley Sr. (CRD # 4644722, Registered Representative, Brownsboro, Texas) 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, Smiley consented to the described sanction and to the entry of findings that he misappropriated funds [...]

Christopher William Shanahan (CRD # 2973891, Registered Representative, Westlake, Ohio) 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, Shanahan consented to the described sanction and to the entry of findings that he misappropriated more than [...]

Richard Albert Seefried (CRD # 1062447, Registered Principal, Spokane, Washington) submitted an Offer of Settlement in which he was suspended from association with any FINRA member in any capacity for three months. In light of Seefried’s financial status, no monetary sanctions have been imposed. Without admitting or denying the allegations, Seefried consented to the described [...]

M. B. Schreiber (CRD # 1032600, Registered Principal, Holmdel, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for 60 days. Without admitting or denying the findings, Schreiber consented to the described sanctions and to the entry [...]

Michael John Rukujzo (CRD # 1386173, Registered Principal, Plainfield, Illinois) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any principal capacity. In light of of Rukujzo’s financial status, no monetary sanctions have been imposed. Without admitting or denying the findings, Rukujzo consented to [...]

Andrew Mark Ruby (CRD # 2976182, Registered Representative, Hartsdale, New York) 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, Ruby consented to the described sanction and to the entry of findings that, from about February [...]

Drumond Ricardo Roby (CRD # 4078255, Registered Representative, Ferndale, Michigan) was barred from association with any FINRA member in any capacity. The sanction was based on findings that Roby misused funds belonging to customers whose accounts were inactive by changing the names and addresses on the accounts, without the customers’ knowledge or approval, and issued [...]

Alvin Charles Ramsey (CRD # 2583105, Registered Representative, Martinez, Georgia) 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, Ramsey consented to the described sanction and to the entry of findings that he served as a [...]

Samuel Madigan Pierce (CRD # 5370122, Associated Person, Philadelphia, Pennsylvania) 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, Pierce consented to the described sanction and to the entry of findings that he conspired with others [...]

Ariel Pena (CRD # 5439179, Registered Representative, New York, New York) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for six months. The fine must be paid either immediately upon Pena’s reassociation with a FINRA member firm following [...]

Charles James Moni (CRD # 822557, Registered Representative, Princeton, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $39,013, which includes disgorgement of $29,013 representing commissions received, and suspended from association with any FINRA member in any capacity for six months. The fine must be paid either immediately upon [...]

Harold Sheldon Minsky (CRD # 336507, Registered Representative, Northridge, California) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for 30 days. Without admitting or denying the findings, Minsky consented to the described sanctions and to the entry of [...]

Kyle Patrick MacDonald (CRD # 4674276, Registered Representative, Falmouth, Maine) 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, MacDonald consented to the described sanction and to the entry of findings that he converted $1,100 in customers’ financial planning [...]

Douglas Seth Land (CRD # 4872625, Registered Representative, Edgewater, New Jersey) 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 one month. Without admitting or denying the findings, Land consented to the described sanctions and to the entry [...]

Gerald Jamieson Kesner (CRD # 2337113, Registered Representative, Lakewood, Colorado) was barred from association with any FINRA member in any capacity. The NAC imposed the sanction following appeal of an OHO decision. The sanction was based on findings that Kesner failed to disclose material information to investors regarding the acquisition of securities and membership interests [...]

Reed Theodore Johnson (CRD # 1833316, Registered Principal, San Diego, California) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $7,500 and suspended from association with any FINRA member in any principal capacity for 10 business days. Without admitting or denying the findings, Johnson consented to the described sanctions and to [...]

Mahesh Pravin Jhala (CRD # 1120916, Registered Representative, Mayfield Village, Ohio) 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, Jhala consented to the described sanction and to the entry of findings that he privately charged [...]

Trent Tremayne Hughes (CRD # 3226348, Registered Representative, Dallas, Texas) was fined $5,000 and suspended from association with any FINRA member in any capacity for three months. The fine is due and payable when Hughes returns to the securities industry. The sanctions were based on findings that Hughes falsified cash distribution forms totaling $212,752 to [...]

William Edward Herlihy (CRD # 4005879, Registered Principal, Deltona, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was censured, fined $30,000 and suspended from association with any FINRA member in any capacity for 90 days. The fine must be paid either immediately upon Herlihy’s reassociation with a FINRA member firm following [...]

Mark Francis Harper (CRD # 4148035, Registered Representative, Stow, Ohio) was barred from association with any FINRA member in any capacity. The sanction was based on findings that Harper engaged in a pattern of mutual fund switching in customers’ accounts without having reasonable grounds for believing that the transactions were suitable for the customers. The [...]

Jason Allen Groth (CRD # 2933258, Registered Representative, San Diego, California) 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 90 days. Without admitting or denying the findings, Groth consented to the described sanctions and to the entry [...]

Henry Thomas Goode II (CRD # 3272392, Registered Representative, Melbourne, Florida) 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 60 days. The fine must be paid either immediately upon Goode’s reassociation with a FINRA member firm following [...]

Dedric Hillery Gill III (CRD # 1935821, Registered Representative, Omaha, Nebraska) 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, Gill consented to the described sanction and to the entry of findings that he engaged in [...]

Rob William Friemoth Jr. (CRD # 4218424, Registered Representative, Waterville, Ohio) 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 two months. Without admitting or denying the findings, Friemoth consented to the described sanctions and to the entry [...]

Steven Vincent Donato (CRD # 5249506, Registered Representative, Cherry Hill, New Jersey) 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, Donato consented to the described sanction and to the entry of findings that he distributed [...]

Barry Michael Donald (CRD # 2534882, Registered Representative, Morton, Illinois) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for 20 business days. The fine must be paid either immediately upon Donald’s reassociation with a FINRA member firm following [...]

Alexander Dobric (CRD # 2684726, Registered Representative, Davie, Florida) submitted an Offer of Settlement in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for one year. The fine must be paid either immediately upon Dobric’s reassociation with a FINRA member firm following his suspension, or prior to [...]

Jose Cecilio DeCastro (CRD # 3121570, Registered Representative, Caracas, Venezuela) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for one year. The fine must be paid either immediately upon DeCastro’s reassociation with a FINRA member firm following his [...]

Darrell Steven Current (CRD # 1375058, Registered Representative, Louisville, Kentucky) 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 one month. Without admitting or denying the findings, Current consented to the described sanctions and to the entry of [...]

David Bigelow Crocker (CRD # 1927739, Registered Representative, Santa Fe, New Mexico) submitted an Offer of Settlement in which he was censured, fined $10,000, which includes the disgorgement of $3,500 in financial benefits he received, and suspended from association with any FINRA member in any capacity for 20 business days. Without admitting or denying the [...]

Daniel Edward Chrusciel (CRD # 3115405, Registered Representative, Chicago, Illinois) 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, Chrusciel consented to the described sanction and to the entry of findings that he processed options trades [...]

Daniel Glenn Carlen (CRD # 2199946, Registered Principal, Boca Raton, 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, Carlen consented to the described sanction and to the entry of findings that he was associated [...]

William Frederick Brahe Jr. (CRD # 3195240, Registered Representative, East Meadow, New York) was barred from association with any FINRA member in any capacity. The sanction was based on findings that, without permission or authority, Brahe withdrew approximately $1,078,400 from customers’ accounts and deposited the money into his own accounts for his own use and [...]

Roslyn E. Bixby (CRD # 1176721, Registered Representative, Seal Beach, California) submitted a Letter of Acceptance, Waiver and Consent in which she was fined $5,000 and suspended from association with any FINRA member in any capacity for one month. Without admitting or denying the findings, Bixby consented to the described sanctions and to the entry [...]

Martin David Batstone (CRD # 2171601, Registered Representative, San Diego, California) 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 10 business days. Without admitting or denying the findings, Batstone consented to the described sanctions and to the [...]

George Robert Register (CRD # 373031, Registered Principal, Roswell, Georgia) and Register Financial Associates, Inc. (CRD # 30568, Atlanta, Georgia) submitted an Offer of Settlement in which the firm was fined $50,000, and Register was fined $15,000 and suspended from association with any FINRA member in any principal or supervisory capacity for 30 days. [...]

Register Financial Associates, Inc. (CRD # 30568, Atlanta, Georgia) and George Robert Register (CRD # 373031, Registered Principal, Roswell, Georgia) submitted an Offer of Settlement in which the firm was fined $50,000, and Register was fined $15,000 and suspended from association with any FINRA member in any principal or supervisory capacity for 30 days. Without [...]

FINRA Fines H&R Block Financial Advisors $200,000 for Inadequate Supervision of Reverse Convertible Notes Sales, Suspends and Fines Broker for Unsuitable Sales to Retired Couple
Regulator Issues Guidance for Firms and for Retail Investors Regarding Risks, Potential Rewards and Complexity of This Popular Structured Product
The Financial Industry Regulatory Authority (FINRA) announced its first enforcement action involving [...]

FINRA Fines H&R Block Financial Advisors $200,000 for Inadequate Supervision of Reverse Convertible Notes Sales, Suspends and Fines Broker for Unsuitable Sales to Retired Couple
Regulator Issues Guidance for Firms and for Retail Investors Regarding Risks, Potential Rewards and Complexity of This Popular Structured Product
The Financial Industry Regulatory Authority (FINRA) announced its first enforcement action involving [...]

Jennifer Birrell Young (CRD # 2527700, Registered Representative, Parker, Colorado) was barred from association with any FINRA member in any capacity. The sanction was based on findings that Young made approximately $94,000 in unauthorized personal charges on credit cards that her employer firm issued to her and another registered individual for business use. The findings [...]

Warren William Wall (CRD # 1075703, Registered Principal, Fairview, North Carolina) was fined $15,000, suspended from association with any FINRA member in any capacity for three months, suspended from association with any FINRA member in any principal capacity for nine months and ordered to requalify by examination before he re-enters the securities industry in any [...]

Richard Albert Snyder Jr. (CRD # 2997793, Registered Representative, Palm Harbor, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for one year. The fine must be paid either immediately upon Snyder’s reassociation with a FINRA member firm [...]

Maxwell Baldwin Smith (CRD # 600012, Registered Principal, Fair Haven, New Jersey) 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, Smith consented to the described sanction and to the entry of findings that he received [...]

Douglas Richard Smith (CRD # 1845966, Registered Principal, Newbury Park, California) submitted an Offer of Settlement 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 Smith’s reassociation with a FINRA member firm following his suspension, or [...]

Ronald Urban Schulze (CRD # 2458738, Registered Principal, Fort Loramie, Ohio) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for three months. The fine must be paid either immediately upon Schulze’s reassociation with a FINRA member firm following [...]