Ronald Douglas Rogers (CRD # 4398735, Registered Representative, Fairbank, Iowa) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $15,000, which includes disgorgement of commissions, and suspended from association with any FINRA member in any capacity for one month. The fine must be paid either immediately upon Rogers’ 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, Rogers consented to the described sanctions and to the entry of findings that he made an unsuitable recommendation to customers to each purchase $1,000,000 variable life insurance policies, using $30,000 that they had intended to use as a down payment for a home. The findings stated that Rogers’ recommendation to the customers was unsuitable in light of their young age and lack of a need for $1,000,000 in life insurance coverage. The findings also stated that Rogers received commissions totaling $6,841.22.
The suspension was in effect from May 3, 2010, through June 2, 2010.

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