Walter Allen Ellis (CRD # 1024597, Registered Principal, Chesterfield, Virginia) was fined a total of $22,500 and suspended from association with any FINRA member in any capacity for a total of one year. The fine is due and payable upon Ellis’ return to the securities industry. The sanctions were based on findings that Ellis engaged in outside business activities without providing prompt written notice to his member firm. The findings stated that Ellis managed customers’ accounts and effected trades in commodity futures contracts and commodity futures options through commodity trading firms and earned commissions from the firms. The findings also stated that Ellis completed quarterly compliance questionnaires for his firm that inquired if he had engaged in an outside business activity while associated with the firm, and he answered “no” to this question, thereby knowingly providing false information to his firm, which caused its firm’s books and records to be inaccurate. The findings also included that Ellis willfully failed to timely amend his Form U4 with material information.
The suspensions are in effect from April 5, 2010, through April 4, 2011.

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