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FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm.
The representative was previously registered both as an investment adviser and as a broker. Visit BrokerCheck for more information on this individual's Broker record. Go to BrokerCheck Site
FINRA RULE 2010, NASD RULES 2110, 3110: LEE MISAPPROPRIATED $901 FROM HIS MEMBER FIRM BY CLAIMING AND RECEIVING REIMBURSEMENT FOR PERSONAL EXPENSES WHICH HE CLAIMED AS BUSINESS EXPENSES, THUS CONVERTING HIS FIRM'S FUNDS TO HIS OWN USE. THESE PERSONAL EXPENSES INCLUDED TWO DUPLICATE EXPENSES, SIXTEEN PERSONAL CAR WASH SERVICES AND FIVE MEALS HE CLAIMED AS BUSINESS EXPENSES. IN DOING SO, LEE CAUSED HIS FIRM'S BOOKS AND RECORDS TO BE INACCURATE.
Resolution
Acceptance, Waiver & Consent(AWC)
Bar
Bar (Permanent)
Registration Capacities Affected
All Capacities
Duration
Indefinite
Start Date
8/30/2011
Regulator Statement
WITHOUT ADMITTING OR DENYING THE FINDINGS, LEE CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS; THEREFORE HE IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY.
License(s)
The broker is not currently registered with any state or SRO.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.