As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for December 2011, Joseph Alphonse Vitale of Boca Raton, Florida was barred from association with any FINRA member in any capacity.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for December 2011, Robert Durant Tucker of New York, New York was suspended from association with any FINRA member in any capacity for two years and required to requalify as a corporate securities limited representative at the conclusion of the suspension.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for December 2011, Danny Wayne Thomason of Sherwood, Arkansas has submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for four months. The fine must be paid either immediately upon Thomason’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 the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for December 2011, Evan Taber of Plantation, Florida was barred from association with any FINRA member in any capacity. The sanction was based on findings that Taber intentionally converted or misappropriated customer funds. The findings stated that Taber discussed with a customer an investment that would yield a 15 percent rate of return and the customer gave Taber a check for $30,000 payable to the investment; Taber deposited the customer’s check into the investment checking account.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for December 2011, Darin Scott Souza of Hingham, Massachusetts has submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for three months. The fine must be paid either immediately upon Souza’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 the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for December 2011, Isaiah Solomon of Mitchellville, Maryland has submitted a Letter of Acceptance, Waiver and Consent in which he was fined $15,000, which includes disgorgement of $8,600 representing the financial benefits he received from sales, and suspended from association with any FINRA member in any capacity for 18 months. The fine must be paid either immediately upon Solomon’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 the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for December 2011, Jeffrey Alan Smith of Santa Ana, California has submitted a Letter of Acceptance, Waiver and Consent in which he was suspended from association with any FINRA member in any principal capacity for 20 business days. In light of Smith’s financial status, no monetary sanctions have been imposed. Without admitting or denying the findings, Smith consented to the described sanction and to the entry of findings that he failed to enforce his member firm’s WSPs and failed to effectively supervise the activities of the firm’s associated persons over whom he had supervisory responsibility to ensure that they were complying with FINRA rules and federal securities laws and regulations.
As published on December 28, 2011 U.S. Securities and Exchange Commission (SEC) announced that commission has deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 against Andrew Caccioppoli. In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over him and the subject matter of these proceedings, and the findings contained in Section III. 3 below, which are admitted, Respondent consents to the entry of this Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions, as set forth below.
On December 09, 2011 British Columbia Securities Commission (BCSC) published that the as part of a settlement agreement in an illegal insider trading case, a B.C. man has agreed to pay $79,429 to the Commission.The agreement states that Jerome John Rak, a resident of West Vancouver, breached securities laws when he purchased securities in Velo Energy Inc, an Alberta company that was planning to hire a new president and CEO. Rak had advanced knowledge of Velo’s plan to hire Arthur Millholland, the former president and CEO of Oilexco Inc, when he purchased 172,000 shares in the company.
On December 21, 2011 British Columbia Securities Commission (BCSC) published that the panel has found that a Richmond, B.C. man broke securities laws when he sold securities for a U.S. company. Donald Verne Dyer raised money for Global 8 Environmental Technologies Inc. through Pacific Ocean Resources Corporation, a Langley-based company that Dyer owns. Dyer is in the business of raising money for public companies, though neither Dyer nor his company are registered to sell securities in B.C.
On December 22, 2011 British Columbia Securities Commission (BCSC) published that the panel has found that two B.C. residents and two companies broke securities laws when they raised money from Canadian and U.S. investors. The panel found that Daniel Scammell, Casper de Beer (aka Casha de Beer), Verified Transactions Corp. and VerifySmart Corp. traded in securities without being registered in B.C., and distributed those securities without filing a prospectus.
On December 14, 2011 U.S. Commodity Futures Trading Commission (CFTC) announced that it has obtained a consent order of permanent injunction against defendants Mark A. Vanderploeg formerly of Glendale, Ariz., and his companies, Midwest Land & Livestock, Inc., of Glendale, Ariz., SKV Farms Inc. of Omaha, Neb., and DCV Farms, Inc. of Minneapolis, Minn., for engaging in an illegal, false reporting scheme. The CFTC charged that the defendants defrauded grain elevators and cooperatives in Kansas, Iowa, Minnesota, Illinois, and South Dakota. The consent order, entered on December 9, 2011, by the Honorable Eric F. Melgren of the U.S. District Court for the District of Kansas, requires Vanderploeg, MLL, SKV, and DCV jointly and severally to pay a $70,000 civil monetary penalty and restitution totaling $112,400.
On December 19, 2011 U.S. Commodity Futures Trading Commission (CFTC) announced that it has obtained a federal consent order for permanent injunction against CFTC defendant Jeffrey L. Groendyke (doing business as JG Forex Fund) of Middleville, Mich., requiring him to pay $963,141 in restitution and a $420,000 civil monetary penalty. The order also permanently bars Groendyke from engaging in any commodity-related activity, including trading and registering with the CFTC. The order settles a CFTC anti-fraud enforcement action filed in May 2011, charging Groendyke with fraud and misappropriation in connection with a Ponzi scheme involving off-exchange foreign currency trading.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for December 2011, Brian Simone of Elmhurst, New York has submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Simone consented to the described sanction and to the entry of findings that he willfully failed to disclose material information on his initial Form U4 with a member firm and willfully failed to amend his Form U4 with the firm to disclose the material fact.
As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for December 2011, Michael Daniel Shaw of Baton Rouge, Louisiana has submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Shaw consented to the described sanction and to the entry of findings that acting on his member firm’s behalf, he recommended and effected the sale of high-risk private placements to customers without having a reasonable basis to believe the transactions were suitable given the the customers’ financial circumstances and conditions; Shaw earned a total of $56,733 in net commissions on the transactions.
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