[Translate] Hunter World Markets Inc. Hunter Advisors L.L.C. Magna Entertainment Corp. Divine Capital Markets L.L.C.
On Feb. 24, 2011, the U.S. Securities and Exchange Commission issued an Order Making Findings and Imposing Remedial Sanctions and a Cease-And-Desist Order Pursuant to Section 21C of the Securities Exchange Act of 1934, Sections 203(f) And 203(k) of the Investment Advisers Act of 1940, and Section 9(b) of the Investment Company Act of 1940 as to Sam P. Douglass.
As published in Financial Industry Regulatory Authority (FINRA) disciplinary actions report for February 2011, David Crook was fined $5,000 and suspended from association with any FINRA member in any capacity for 18 months. The fine must be paid either immediately upon Crook’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.
As published in Financial Industry Regulatory Authority (FINRA) disciplinary actions report for February 2011, Richard Lawrence Coskey was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Coskey consented to the described sanction and to the entry of findings that notwithstanding his notice of potential ongoing violations of FINRA rules by a registered representative who worked under his direct supervision, Coskey failed to take any meaningful steps to increase his supervision of the registered representative, restrict his activities, or otherwise prevent his continued harmful mutual fund trading in firm customers’ accounts.
As published in Financial Industry Regulatory Authority (FINRA) disciplinary actions report for February 2011, Benjamin Harry Cohen was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Cohen consented to the described sanction and to the entry of findings that he violated FINRA’s suitability rule by failing to understand or convey to customers the cost of a rider to a variable annuity, pursuant to transactions he recommended to customers.
As published in Financial Industry Regulatory Authority (FINRA) disciplinary actions report for February 2011, Patrick Cissne was fined $5,000 and suspended from association with any FINRA member in any capacity for one month. The fine must be paid either immediately upon Cissne’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.
As published in Financial Industry Regulatory Authority (FINRA) disciplinary actions report for February 2011, Derek Matthew Christenson was barred from association with any FINRA member in any capacity. The sanction was based on findings that Christenson converted customer funds by transferring $66,000 in several transactions from a bank customer’s saving account into several of his personal checking accounts, without the customer’s knowledge. The findings stated that Christenson failed to respond to FINRA requests for information.
As published in Financial Industry Regulatory Authority (FINRA) disciplinary actions report for February 2011, Thomas Jones Charles Jr. was fined $35,000 and suspended from association with any FINRA member in any capacity for one year. The fine is due and payable upon Charles’ return to the securities industry. The sanctions were based on findings that Charles sold variable universal life insurance products to his member firm’s customers and after leaving the firm, Charles remained the assigned representative on the accounts and received modest annual “trailing commissions.”
As published in Financial Industry Regulatory Authority (FINRA) disciplinary actions report for February 2011, Cynthia Ann Bulinski was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Bulinski consented to the described sanction and to the entry of findings that she made unsuitable recommendations to her elderly clients to purchase variable annuities.
As published in Financial Industry Regulatory Authority (FINRA) disciplinary actions report for February 2011, Gregory James Buchholz he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Buchholz consented to the described sanction and to the entry of findings that he misappropriated approximately $1,350,000 from customers, a number of whom were retirees, by liquidating their variable annuities and/or mutual funds and then transferring the proceeds to his personal bank account, converting the proceeds for his own use and benefit.
On February 14, 2011 British Columbia Securities Commission (BCSC) published that it has settled with a B.C. man and a company that illegally distributed securities to 20 investors for proceeds of approximately $1 million. In the BCSC settlement agreement, Peter William Arthur Wise, an insurance salesperson and financial planner, and Microline Veneer & Forest Products Corp. (Microline) admitted that they distributed securities to 20 investors without being registered under B.C. securities laws and without filing prospectus with the commission.
On February 11, 2011 British Columbia Securities Commission (BCSC) published that it has banned an Abbotsford man for 20 years who admitted he was responsible for four related companies that made illegal distributions to investors in Canada and the U.S. Gregory Clark Carrington, an Abbotsford, B.C. resident, was the chief executive officer and president of WebNet Converged Wireless Networks Ltd., WebNet Broadcasting Corporation, WebNet Global Capital Partners Ltd., and 3dh Capital Ltd.
On January 31, 2011 Securities and Exchange Board of India (SEBI) published that the Hon’ble Securities Appellate Tribunal, Mumbai (SAT) in the matter of Appeal No.219 of 2009 decided on November 23, 2009 set aside the adjudication order no SD/AO/94/2009 dated August 27, 2009 and remitted to the Adjudicating Officer (AO) to consider the material on the record and pass a fresh order in accordance with law after affording an opportunity of hearing to the Appellant (M/s. Vintel Securities Pvt. Ltd.).
On January 04, 2011 National Futures Association (NFA) published that having reviewed the Complaint issued by the Business Conduct Committee of NFA in the above-captioned case, and having considered the Offer of Settlement submitted by Investors Trading Institute and Rogelio Camacho and having accepted their Offer, this Panel hereby issues this Decision as to lTl and Camacho.
On February 18, 2011 National Futures Association (NFA) published that the association has permanently barred Petra Trading Group LLC from NFA membership. Petra is an Introducing Broker located in St. Charles, Illinois. Martin J. Allamian, principal and associated person (AP) of Petra, is also barred from NFA membership for a period of three years. In the event that Allamian reapplies for NFA membership after his three-year bar he must pay a fine of $250,000. The Decision, issued by an NFA Hearing Panel, is based on an NFA Complaint filed in November 2008.
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