(FINRA Case #2016052559401)

Michael Lawrence Oromaner (CRD #2857559, Huntington, New York) – An AWC (Accept, Waiver & Consent) was issued in which Oromaner was assessed a deferred fine of $25,000, suspended from association with any FINRA member firm in all capacities for two years and required to pay $60,158, plus interest, in restitution to customers.

Without admitting or denying the findings, Oromaner consented to the sanctions and to the entry of findings that he exercised discretion in a customer’s account without prior written authorization from the customer or approval from his member firm. The findings stated that Oromaner effected unauthorized trades in a second customer’s account without the customer’s authorization, knowledge or consent.

(FINRA Case #2013039507101)

Anthony Sica (CRD #1332626, Sands Point, New York) – An AWC (Accept, Waiver & Consent)was issued in which Sica was fined $20,000, suspended from association with any FINRA member in all capacities for three months, required to pay $3,039.11, plus interest, in restitution to a customer and required to attend and satisfactorily complete 10 hours of continuing education concerning suitability or dealing with senior customers by a FINRA-approved provider.

Without admitting or denying the findings, Sica consented to the sanctions and to the entry of findings that he made unsuitable recommendations to an elderly customer living on a fixed income. The findings stated that Sica repeatedly recommended that the customer purchase high risk, speculative securities that were inconsistent with her investment profile.

(FINRA Case #2016050058801)

Brad C. Lawing (CRD #4986486, Springfield, Missouri)– An AWC (Accept, Waiver & Consent) was issued in which Lawing was assessed a deferred fine of $10,000, suspended from association with any FINRA member in all capacities for five months and ordered to pay $11,754, plus interest, in deferred restitution to customers.

Without admitting or denying the findings, Lawing consented to the sanctions and to the entry of findings that he disclosed nonpublic information of ten customers, including information about their account balances or investment strategies, to their former registered representative who had become statutorily disqualified due to a felony conviction.

(FINRA Case #2016047565702)

Dakota Securities International, Inc. (CRD #132700, Miami, Florida) and Bruce Martin Zipper (CRD #1019731, Miami, Florida) – The firm and Zipper were named respondents in a FINRA complaint alleging that while statutorily disqualified and suspended in all capacities, Zipper conducted a securities business, engaged in clerical and managerial activities on behalf of the firm, and continued to associate with the firm in violation of a suspension order he had entered into with FINRA.

The complaint alleges that Zipper engaged in activities that required registration by soliciting the sale of securities, communicating with customers regarding securities and account holdings, providing account statements to customers, accessing the firm’s trading systems, and engaging in clerical and managerial functions on behalf of the firm, including emailing with firm vendors.

(FINRA Case #2015046537501)

 Walter Joseph Marino (CRD #2121623, Dix Hills, New York) – An Offer of Settlement was issued in which Marino was suspended from association with any FINRA member in all capacities for one year. In light of Marino’s financial status, no monetary sanction has been imposed.

Without admitting or denying the allegations, Marino consented to the sanctions and to the entry of findings that he recommended unsuitable replacements (also known as exchanges) of non-qualified variable annuities to two customers without having a reasonable basis for recommending the transactions, resulting in benefits to him and substantial financial harm to the customers.

(FINRA Case #2017052709201)

 Steven John Meyer (CRD #4798400, South Plainfield, New Jersey)– An AWC (Accept, Waiver, Consent) was issued in which Meyer was barred from association with any FINRA member in all capacities.

Without admitting or denying the findings, Meyer consented to the sanction and to the entry of findings that he engaged in churning and unsuitable excessive trading in customers’ accounts, two of whom were senior citizens.

(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.