(FINRA Case #2016049316301)

Joseph Leigh Cotter (CRD #1263122, Charlotte, North Carolina) – An AWC (Accept, Waiver, Consent) was issued in which Cotter was assessed a deferred fine of $15,000, suspended from association with any FINRA member in all capacities for nine months, and ordered to pay $100,549.42, plus interest, in deferred disgorgement of commissions received.

Without admitting or denying the findings, Cotter consented to the sanctions and to the entry of findings that he engaged in excessive, unsuitable trading in a customer’s accounts.

(FINRA Case #2016049789601)

 Donald P. Southwick (CRD #4425538, Wixom, Michigan) – An AWC (Accept, Waiver  Consent) was issued in which Southwick was suspended from association with any FINRA member in all capacities for six months. In light of Southwick’s financial status, no monetary sanction has been imposed.

Without admitting or denying the findings, Southwick consented to the sanction and to the entry of findings that he failed to perform a reasonable basis suitability analysis prior to recommending investments in two private offerings, a bond offering and a bridge loan, to his customers.

(FINRA Case #2015044939901)

Mark Sherman Perry (CRD #1219294, Mt. Pleasant, South Carolina) – An AWC (Accept, Waiver & Consent) was issued in which Perry was suspended from association with any FINRA member in all capacities for 18 months. In light of Perry’s financial status, no monetary sanction has been imposed.

Without admitting or denying the findings, Perry consented to the sanction and to the entry of findings that he made unsuitable investment recommendations to four elderly, retired customers. The findings stated that Perry over concentrated the customers’ accounts in precious metal sector securities.

(FINRA Case #2016049252901)

Peyton Nelson Jackson (CRD #1988387, Alexandria, Virginia) – An OHO (Office of Hearing Officers) decision became final in which Jackson was barred from association with any FINRA member in all capacities.

The sanction was based on findings that Jackson failed to comply with multiple FINRA requests for information pertaining to an investigation into the validity of allegations by several of Jackson’s former customers who filed statements of claim against him and his former member firms alleging, among other things, that he recommended unsuitable securities and engaged in fraud.

(FINRA Case #2015044823501)

Craig Scott Capital, LLC (CRD® #155924, Uniondale, New York) – An Office of Hearing Officers (OHO) decision became final in which the firm was expelled from FINRA® membership. In light of the expulsion, no monetary sanctions were imposed.  The sanction was based on findings that the firm, acting through three registered representatives, excessively traded in customer accounts.

The findings stated the trading in the affected customer accounts was excessive based on the cost-to-equity ratios and turnover rates. The registered representatives had de facto control over the trading in the accounts. In light of the level of commissions, markups, markdowns and other charges to the customers, the level of trading was inconsistent with the customers’ objectives and financial situations. The firm was responsible for the excessive trading of customer accounts by its registered representatives and was responsible for the representatives’ excessive trading under principles of respondeat superior.

(FINRA Case #2017054827701)

Lorenzo C. Esteva (CRD #2170595, Miami, Florida) September 11, 2017 – An AWC (Accept Waiver & Consent) was issued in which Esteva was barred from association with any FINRA member in all capacities.

Without admitting or denying the findings, Esteva consented to the sanction and to the entry of findings that he failed to produce FINRA requested documents and information as part of an investigation into customer complaints that he provided falsified account statements to a customer from 2001 to 2017, and that he improperly journaled funds between accounts of two unrelated customers.

(FINRA Case #2015046971701)

Street Capital, LP f/k/a Meyers Associates, L.P (CRD #34171, New York, New York), Nas Adel Allan (CRD #4562149, Staten Island, New York) and Gregory J. Anastos (CRD #5800831, Jersey City, New Jersey) – The firm, Allan, and Anastos were named respondents in a FINRA complaint alleging that Allan and Anastos enriched themselves at the expense of elderly husband-and-wife customers at the firm.

The complaint alleges that Allan and Anastos did so by repeatedly recommending, over a 16-month period, that the customers’ trust account engage in short-term trading of a single security that they had held for more than 36 years, resulting in significant losses and capital gains tax liability for the customers, and generating over $98,000 in commissions, markups and markdowns for Allan, Anastos and the firm.

(FINRA Case #2013035035902)

James Sylvester Fleming III (CRD #846806, Paxton, Massachusetts) – An AWC (Accept, Wavier & Consent) was issued in which Fleming was fined $10,000 and suspended from association with any FINRA member in all capacities for four months.

Without admitting or denying the findings, Fleming consented to the sanctions and to the entry of findings that in connection with two customers’ accounts, he repeatedly recommended that the customers purchase UITs and then sell them well before their maturity dates.

(FINRA Case #2013037843201)

David John Lomedico (CRD #1531676, Huntington, New York) – An AWC (Accept, Wavier & Consent) was issued in which Lomedico 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, Lomedico consented to the sanctions and to the entry of findings that he recommended unsuitable transactions in two customers’ accounts.

(FINRA Case #2016051367201)

Elaine Diones LaCerte (CRD #1536459, Colorado Springs, Colorado) – An AWC (Accept, Wavier & Consent) was issued in which LaCerte was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for six months.

Without admitting or denying the findings, LaCerte consented to the sanctions and to the entry of findings that she engaged in an unsuitable pattern of short-term trading of UITs in customer accounts.