Clifford Michael Jensen (CRD # 4362723, Registered Representative, Fort Lauderdale, 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 three months. The fine must be paid either immediately upon Jensen’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, Jensen consented to the described sanctions and to the entry of findings that he exercised control over a customer’s account, and made excessive and unsuitable securities transactions in the account in a manner inconsistent with the customer’s objectives, financial situation and needs. The findings stated that Jensen’s trading in the account resulted in losses of $32,000 to the customer and generated gross commissions of $49,000. The findings also stated that Jensen’s trading in the account was excessive and unsuitable based on the volume of transactions and the substantial fees associated with such trading.

The suspension is in effect from January 5, 2009, through April 4, 2009. (FINRA Case # 2007008490101)