As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for August 2011, Steven E. Michaud, North Providence, Rhode Island was barred for Failure to Provide Information or Keep Information Current Pursuant to FINRA Rule 9552(h).
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for August 2011, Ricky Toyohiko Meyer, Aurora, Colorado was barred for Failure to Provide Information or Keep Information Current Pursuant to FINRA Rule 9552(h).
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for August 2011, Blair Alexander West, Registered Principal, Southampton, New York was named as a respondent in a FINRA complaint alleging that his member firm entered into an agreement with a corporate client to advise it on various possible transactions, including capital raising and/or a merger or acquisition.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for August 2011, Joseph James Sciarra Jr., Registered Principal, Wellington, Florida was named as a respondent in a FINRA complaint alleging that he received a total of $393,935 from a member firm customer for investment purposes, endorsed the checks and either cashed them or deposited them into a bank account.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for August 2011, Kim Nazarek, Registered Representative, Santa Rosa, California was named as a respondent in a FINRA complaint alleging that he conducted investment related and retirement seminars where he used and distributed invitations, presentation materials and documents that constituted sales literature to the general public, and was required, but failed, to obtain the approval of a registered principal of his member firm before using or causing the distribution of the seminar sales literature.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for August 2011, Anthony Gerard Manaia, Registered Principal, Lake Angelus, Michigan was named as a respondent in a FINRA complaint alleging that he made material misrepresentations and omitted facts to customers in connection with investments in private placements; Manaia also negligently omitted to disclose to the investors material information necessary for certain affirmative representations not to be misleading.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for August 2011, Russell Philip Macke, Registered Representative, St. Louis, Missouri was named as a respondent in a FINRA complaint alleging that he engaged in excessive trading and use of margin in customers’ accounts by taking advantage of his discretionary authority over the customers’ accounts.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for August 2011, Matthew Morgan Dooley, Registered Representative, Mill Valley, California was named as a respondent in a FINRA complaint alleging that he made unsuitable recommendations to customers to purchase inverse, leveraged ETFs when the customers’ chosen investment objectives were growth and income, not speculation and day trade.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for August 2011, Gregory Allen Baldwin, Registered Principal, Hendersonville, North Carolina was named as a respondent in a FINRA complaint alleging that he raised $2,940,000 from investors through the sale of securities in the form of limited partnership interests, without providing prior written notice to, or obtaining written approval from, his member firm.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for August 2011, ACAP Financial, Inc. and Gary Hume Registered Principal, Syracuse, Utah. The firm was fined $75,000, required to revise its procedures to comply with the requirements of Section 5 of the Securities Act of 1933, required to retain an independent consultant to review and approve the firm’s revised procedures, and suspended from the activity of receiving unregistered penny stocks, including those represented by unlegended stock certificates, and liquidating those positions, until it has implemented its revised procedures after the independent consultant’s approval.
On August 17, 2011 U.S. Securities and Exchange Commission (SEC) announced that the commission had initiated proceedings on September 27, 2010 pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 (“Exchange Act”) against Erik S. Blum. Respondent has submitted an Offer of Settlement which the Commission has determined to accept.
On August 29, 2011 U.S. Securities and Exchange Commission (SEC) announced that the commission today charged two Florida men with operating a Ponzi scheme disguised as a purported private equity fund that fraudulently raised approximately $22 million from more than 100 investors, many of whom were Florida teachers or retirees.
On July 28, 2011 British Columbia Securities Commission (BCSC) published that the executive director of the commission has issued a notice of hearing alleging that a man purporting to be an independent broker dealer committed fraud and engaged in unregistered trading. The notice alleges that Michael Robert Shantz, a B.C. resident, through his company, Canada Pacific Consulting Inc. (CPC), solicited German and Swiss residents to open trading accounts with CPC. Shantz and CPC claimed that they would conduct gold futures or foreign exchange trading on behalf of these individuals.
On August 09, 2011 Alberta Securities Commission (ASC) published that the an application is made to the commission by staff of the Alberta Securities Commission (Staff), for an Order pursuant to section 198(1.1) of the Alberta Securities Act (Act), that: Under subsection 198(1)(a) of the Act, that all trading in the securities of Great White Capital Corp. (Great White) cease, permanently; Under subsection 198(1)(b) of the Act, that the Respondents cease trading in or purchasing securities or exchange contracts, permanently.
On August 03, 2011 Alberta Securities Commission (ASC) published that the commission has issued an interim order (the Interim Order, cited as Re Cloutier, 2010 ABASC 345) pursuant to sections 33(1) and 198(1) of the Securities Act, R.S.A. 2000, c. S-4 (the Act) that: all trading in securities of the Respondents cease; the Respondents cease trading in all securities; and all exemptions contained in Alberta securities laws do not apply to the Respondents.
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