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Fined: Citigroup Global Markets Inc. Fined by FINRA

Fined

Citigroup Global Markets Inc. Fined by FINRA

An AWC was issued in which the firm was censured, fined $225,000 and required to revise its supervisory system and WSPs. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it effected a short sale for its own account without borrowing the security or entering into a bona fide arrangement to borrow the security, and without documenting its compliance with the locate requirement for short sale transactions.

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Fined: Spencer Edwards, Inc. Fined by FINRA

Fined

Spencer Edwards, Inc. Fined by FINRA

A NAC decision became final in which the firm was fined $3,400,000 and ordered to pay disgorgement in the amount of $90,940, plus prejudgment interest. The NAC affirmed the findings in relevant part and modified the sanctions imposed by the OHO. Given that the firm is no longer operating as a broker-dealer, the NAC assessed, but did not impose, a suspension on the firm requiring it to engage an independent consultant who will monitor its supervisory and anti-money laundering procedures related to its microcap securities liquidation business.

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Article: Metals Trader Says Deutsche Bank Used Him as Spoofing Scapegoat

Article - Media

Metals Trader Says Deutsche Bank Used Him as Spoofing Scapegoat

Janan Hanna

Bloomberg, 13 January 2020

A former Deutsche Bank AG precious-metals trader accused by the U.S. of manipulating commodity markets claims the bank used him as a scapegoat to curry favor with regulators investigating the company.

James Vorley, who is awaiting trial in Chicago, said in a court filing Friday that the bank was acting at the request of federal investigators when it conducted an internal investigation of possible unlawful trading, or spoofing, on its precious-metals desk and obtained a recorded statement from him.

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Barred: Robert Russel Tweed Barred by FINRA

Barred

Robert Russel Tweed Barred by FINRA

Tweed appealed a NAC decision to the SEC. Tweed was barred from association with any FINRA member in all capacities. The NAC affirmed the findings and modified the sanctions imposed by the OHO. The sanction was based on findings that Tweed violated Sections 17(a)(2) and (3) of the Securities Act of 1933 by misrepresenting and failing to disclose material facts in connection with the sale of interests in a private investment fund that he controlled and engaged in a course of conduct that operated as a fraud or deceit on the fund’s investors.

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Article: Ekso’s Q4 pre-announcement ‘bodes well’ for 2020 growth, says H.C. Wainwright

Article - Media

Ekso’s Q4 pre-announcement ‘bodes well’ for 2020 growth, says H.C. Wainwright

TheFly, 10 January 2020

H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating and $1.20 price target on Ekso Bionics, saying the pre-announced “record” fourth quarter “bodes well” for continued growth in 2020.

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Comment: This appears to be a stellar example of a life-saving vital technology company being destroyed by collusion between a placement agent and naked short sellers.

 

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Barred: Gabriel William Hynes Barred by FINRA

Barred

Gabriel William Hynes Barred by FINRA

An AWC was issued in which Hynes was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Hynes consented to the sanction and to the entry of findings that he refused to appear for onthe-record testimony requested by FINRA in connection with its investigation of his sale of a company’s structured cash flow investments comprised of pension streams.

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Fined: Virtu Americas LLC fka KCG Americas LLC Fined by FINRA

Fined

Virtu Americas LLC fka KCG Americas LLC Fined by FINRA

An AWC was issued in which the firm was censured, fined $125,000, and required to revise its written methodology with respect to the areas described in the AWC. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it did not maintain a reasonable written methodology governing the execution and priority of all pending orders that it received for handling and execution.

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Barred: Shlomo Strugano Barred by FINRA

Barred

Shlomo Strugano Barred by FINRA

An AWC was issued in which Strugano was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Strugano consented to the sanction and to the entry of findings that he failed to appear and provide testimony requested by FINRA in connection with an investigation into whether he had forged or falsified customer signatures and initials on account and transaction documents.

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Barred: John A. Chrysadakis Barred by FINRA

Barred

John A. Chrysadakis Barred by FINRA

An AWC was issued in which Chrysadakis was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Chrysadakis consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA after his member firm submitted a Uniform Termination Notice for Securities Industry Registration (Form U5) wherein it disclosed that he was permitted to resign while under internal review.

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Fined: Wintrust Investments LLC fka Wayne Hummer Investments L.L.C. Fined by FINRA

Fined

Wintrust Investments LLC fka Wayne Hummer Investments L.L.C. Fined by FINRA

An AWC was issued in which the firm was censured, fined $35,000 and required to revise its WSPs. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that in transactions involving municipal securities, it failed to exercise reasonable diligence in ascertaining the best market, and sell in such a market, so that the resultant price to the customer was as favorable as possible under prevailing market conditions.

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Fined: Merrill Lynch, Pierce, Fenner & Smith Incorporated Fined by FINRA

Fined

Merrill Lynch, Pierce, Fenner & Smith Incorporated Fined by FINRA

An AWC was issued in which the firm was censured and fined $150,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it executed municipal securities transactions with customers in an amount below an issue’s minimum denomination without an exception.

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Fined: Dash Financial Technologies LLC Fined by FINRA

Fined

Dash Financial Technologies LLC Fined by FINRA

A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured and fined $90,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it transmitted inaccurate Reportable Order Events (ROEs) to the Order Audit Trail System (OATS™), primarily due to the failure to append the correct special handling code to directed orders.

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Barred: John Joseph Cahill Barred by FINRA

Barred

John Joseph Cahill Barred by FINRA

An AWC was issued in which Cahill was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Cahill consented to the sanction and to the entry of findings that he refused to provide documents and information and to appear and provide on-the-record testimony requested by FINRA in connection with an investigation into allegations that he commingled and/or converted funds belonging to, and served as power-of-attorney for, an elderly individual who was his customer while he was associated with his former member firm.

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Article: Duty to Service – Evolving Roles in the Fire Service

Article - Media

Duty to Service – Evolving Roles in the Fire Service

Joseph McCarthy

SIZE UP, 1 January 2020

When I was asked by my fire chief to assume the role of department chaplain, I had a general understanding of what the chaplain’s responsibilities were, and they were rather limited in scope: say an occasional prayer at dinners and meetings and lead the firematic services when we laid a firefighter to rest.

PDF (1 page):  Size Up – 2020 Issue 1 (Joseph McCarthy – Duty to Service)

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