Enforcement – Page 2 – Financial Treason & Crime

02/18/202005/07/2020

Suspended: Thomas M. Murphy Suspended by FINRA

Thomas M. Murphy Suspended by FINRA

An AWC was issued in which Murphy was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for four months. Without admitting or denying the findings, Murphy consented to the sanctions and to the entry of findings that he executed subscription agreements as an authorized signatory for his member firm, without its authorization, to help clients of the firm’s selfdirected brokerage business invest in third-party private real estate funds.

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02/18/202005/07/2020

Barred: Martin David Batstone Barred by FINRA

Martin David Batstone Barred by FINRA

An Offer of Settlement was issued in which Batstone was barred from association with any FINRA member in all capacities. Without admitting or denying the allegations, Batstone consented to the sanction and to the entry of findings that he willfully violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5(a)-(c) thereunder, and violated FINRA Rule 2020 by transferring $11,100 in customer funds to his personal bank accounts and using the funds for his personal expenditures.

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02/14/202005/07/2020

Suspended: Angela Marie Chatfield Suspended by FINRA

Angela Marie Chatfield Suspended by FINRA

An AWC was issued in which Chatfield was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Chatfield consented to the sanctions and to the entry of findings that she engaged in three outside business activities through which she provided accounting and bookkeeping services and acted as office manager and trustee without providing prior written notice to her member firm. The findings stated that Chatfield received compensation for participating in these activities.

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02/13/202005/07/2020

Barred: Ronald Walter Hannes Barred by FINRA

Ronald Walter Hannes Barred by FINRA

An AWC was issued in which Hannes was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Hannes consented to the sanction and to the entry of findings that he refused to produce documents and information requested by FINRA during its investigation into allegations that he converted customer funds.

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02/12/202005/07/2020

Suspended: David Gray Dalton Suspended by FINRA

David Gray Dalton Suspended by FINRA

An AWC was issued in which Dalton was assessed a deferred fine of $7,500 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Dalton consented to the sanctions and to the entry of findings that he exercised discretionary trading authority in customers’ accounts without having first obtained written authorization from the customers or his member firm to treat the accounts as discretionary.

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02/12/202005/07/2020

Suspended: David Francis Dalton Suspended by FINRA

David Francis Dalton Suspended by FINRA

An AWC was issued in which Dalton was assessed a deferred fine of $7,500 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Dalton consented to the sanctions and to the entry of findings that he exercised discretionary trading authority in customers’ accounts without having first obtained written authorization from the customers or his member firm to treat the accounts as discretionary.

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02/10/202005/07/2020

Barred: Jeffrey Scott Nimmow Barred by FINRA

Jeffrey Scott Nimmow Barred by FINRA

An AWC was issued in which Nimmow was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Nimmow consented to the sanction and to the entry of findings that he engaged in the sale of promissory notes to investors totaling at least $3,365,000 without disclosing and receiving approval from his member firm.

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02/06/202005/13/2020

Fined: FIMCO Securities Group, Inc. Fined by FINRA

FIMCO Securities Group, Inc. Fined by FINRA

An AWC was issued in which the firm was censured and fined $5,000. A lower fine was imposed after considering, among other things, the firm’s revenues, financial resources and ability to pay. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to conduct supervisory testing and verification or prepare an annual report documenting the results.

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02/05/202005/13/2020

Fined: BNP Paribas Securities Corp. Fined by FINRA

BNP Paribas Securities Corp. Fined by FINRA

An 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 submitted inaccurate, incomplete, or improperly formatted information to the Order Audit Trail FINRA has taken disciplinary actions against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB). Reported for April 2020 2 Disciplinary and Other FINRA Actions April 2020 System (OATS™).

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02/05/202005/07/2020

Suspended: John Martin Harman Suspended by FINRA

John Martin Harman Suspended by FINRA

An AWC was issued in which Harman was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for 30 business days. Without admitting or denying the findings, Harman consented to the sanctions and to the entry of findings that he directed customers to sign blank or incomplete distribution request forms for their IRAs which he thereafter completed and submitted for processing. The findings stated that the distributions were sent to the customers, as intended.

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02/04/202005/13/2020

Fined: Virtu Americas LLC Fined by FINRA

Virtu Americas LLC Fined by FINRA

A Letter of Acceptance, Waiver and Consent (AWC)
was issued in which the firm was censured and fined $250,000. Without
admitting or denying the findings, the firm consented to the sanctions and
to the entry of findings that it implemented policies and procedures that
failed to reasonably avoid displaying, or engaging in a pattern or practice of
displaying, locking or crossing quotations in over-the-counter (OTC) equity
securities.

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02/04/202005/07/2020

Suspended: Peter Douglas Monson Suspended by FINRA

Peter Douglas Monson Suspended by FINRA

An AWC was issued in which Monson was fined $7,500 and suspended from association with any FINRA member in all capacities for six months. This AWC does not include a restitution component because the beneficiary of the account at issue previously entered into a settlement with Monson and his member firm regarding the conduct described here.

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02/03/202005/07/2020

Barred: Ana Lucia Chavarriaga Barred by FINRA

Ana Lucia Chavarriaga Barred by FINRA

An AWC was issued in which Chavarriaga was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Chavarriaga consented to the sanction and to the entry of findings that she backdated documents and drafted false written statements that her member firm provided to FINRA in response to its requests for information. The findings stated that as the firm’s designated supervisor, Chavarriaga was responsible for reviewing and initialing the firm’s TRACE Quality of Markets Report Cards. Chavarriaga signed and backdated report cards and supplied them to the firm, which in turn provided them to FINRA.

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01/31/202005/13/2020

Fined: Paulson Investment Company LLC Fined by FINRA

Paulson Investment Company LLC Fined by FINRA

An AWC was issued in which the firm was censured and fined $50,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it sold private placement offerings claiming exemption from registration under Rule 506 of Regulation D of the Securities Act of 1933, but without having established pre-existing, substantive relationships with the offerees prior to participating in those offerings. T

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01/29/202005/13/2020

Fined: Wells Fargo Advisors, LLC nka Wells Fargo Clearing Services, LLC Fined by FINRA

Wells Fargo Advisors, LLC nka Wells Fargo Clearing Services, LLC Fined by FINRA

An AWC was issued in which the firm was censured and fined $175,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to reasonably supervise a former registered representative who excessively traded equity positions in accounts belonging to an elderly customer. The findings stated that the customer was 88 years old when the trading commenced and that as a result of the excessive trading, she paid at least $300,000 in commissions and other fees.

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