FINRA

Without admitting or denying the findings, DiJulio consented to the sanctions and to the entry of findings that he exercised discretion to effect transactions in customers' accounts without prior written authorization and his member firm had not accepted the accounts as discretionary. The findings stated that although the customers had given DiJulio express or implied authority to exercise discretion in the accounts, none of the customers had provided written authorization. The findings also stated that when DiJulio placed the transactions, he failed to mark the orders as discretionary and mismarked the transactions as unsolicited. DiJulio thereby caused the firm to make and preserve inaccurate order tickets.

Acceptance, Waiver & Consent(AWC)

Civil and Administrative Penalty(ies)/Fine(s)

$7,500.00

Suspension

All Capacities

three months

8/5/2019

11/4/2019

NBC Securities, Inc.

Voluntary Resignation

FINRA alleges Dijulio executed transactions using discretion that was not authorized by the client. FINRA Case Number 20180575612.

CUSTOMER ALLEGED UNAUTHORIZED, EXCESSIVE AND UNSUITABLE TRADING IN HIS ACCOUNT

$400,000.00

$105,000.00

THE REGISTERED REPRESENTATIVE PROVIDED PROOF THAT THE MATTER WAS SETTLED BY AN ENTITY THROUGH WHICH THE CUSTOMER MADE AN INVESTMENT AND NOT BY THE REGISTERED REPRESENTATIVE HIMSELF AS PREVIOUSLY DISCLOSED.

THE STATEMENT OF CLAIM BY THE [CUSTOMERS] ALLEGE THAT I RECOMMENDED AND PURCHASED VARIOUS INVESTMENTS. DAMAGES ARE ALLEGED TO BE $500,000 ($170,000 ACTUAL)

$500,001.00

$115,000.00

ON OR ABOUT AUGUST 12, 1997, OPPENHEIMER SETTLED THE [CUSTOMERS] MATTER FOR $115,000. NOT PROVIDED

CLAIMANTS ALLEGED EXCESSIVE AND UNAUTHOPRIZED TRADING AND UNSUITABILITY. CLAIMANTS SOUGHT DAMAGES OF $261,000 PLUS INTEREST, COSTS AND FEES.

$261,000.00

$145,962.00

DIJULIO WAS ORDERED TO PAY $9,625 TO [CUSTOMER] AND $27,975 TO [OTHER CUSTOMER NAMED]. SMITH BARNEY WAS ORDERED TO PAY $27,804 TO [CUSTOMER] AND $80,558 TO [OTHER CUSTOMER NAMED].

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.

Consent

Monetary/Fine

$20,000.00

Censure

Suspension

I HAVE REQUALIFIED AND PAID THE FINE AND DID NO SIMPLY TO GET THIS SITUATION BEHIND WE AND MOVE ON. THAT IS WHAT I WOULD LIKE TO SEE HAPPEN FROM HAVE FOWARD. THANK YOU.

ALLEGED UNSUITABLE RECOMMENDATIONS AND EXCESSIVE TRADING. DAMAGES OF $150,000 WERE ALLEGED.

$150,000.00

$74,500.00

NO ADMISSION OF LIABILITY; SETTLEMENT PAYMENTS TO BE MADE BY BOTH SMITH BARNEY AND DIJULIO. THIS COMPLAINT INVOLVED ONE OR BOTH OF EGGHEAD AND/OR LATIN AMERICAN FUND SECURITIES. BOTH EXPERIENCED STEEP DECLINES IN VALUE WHILE THE CUSTOMER(S) WHO IS THE SUBJECT OF THIS COMPLAINT WAS HEAVILY INVESTED IN THEM. THIS DECLINE TRIGGERED THE CUSTOMER'S DISSATISFACTION AND RESULTING COMPLAINT. HIS CUSTOMER DID NOT COMPLAIN UNTIL AFTER I LEFT SMITH BARNEY; I.E., AFTER HIS/HER ACCOUNT HAD BEEN REASSIGNED TO ANOTHER BROKER AND DURING WHICH PERIOD THE ABOVE-MENTIONED SECURITIES FURTHER DECLINED IN VALUE. ALTHOUGH I DENY ANY WRONGDOING IN CONNECTION WITH SOME OF THE ALLEGATIONS IN THIS COMPLAINT, AND AT ALL TIMES I ACTED IN ACCORDANCE WITH WHAT I BELIVED TO BE THE CUSTOMER'S INTERESTS, I HAVE DEFINITELY LEARNED FROM THE MISTAKES I MADE WITH THESE SECURITIES AND THESE CUSTOMERS. I WILL NOT REPEAT THESE MISTAKES.

ALLEGED THAT MR. DIJULIO FAILED TO TIMELY ENTER A SELL ORDER FOR THE LATIN AMERICA INVESTMENT FUND. CAUSING A LOSS OF $50,000.00

$50,000.00

$24,000.00

SETTLED FOR $24,000.00 SETTLEMENT PAYMENTS BY DIJULIO WERE LESS THAN $5,000.00; NO ADMISSION OF LIABILITY. SEE LETTER ATTACHED, IF NECESSARY.

WA

DISHONEST AND UNETHICAL PRACTICES IN THE SECURITIES BUSINESS; UNAUTHORIZED TRADING AND UNSUITABLE RECOMMENDATIONS

Consent

Cease and Desist/Injunction

Suspension

CEASE AND DESIST ORDER ISSUED AND SUSPENDED FOR THREE MONTHS

Not Provided

SALOMON SMITH BARNEY INC.

Discharged

NONE WHILE REGISTERED AT SMITH BARNEY, THREE CLIENTS (RUTSTEIN, JONES & SCHOOLEY) COMPLAINED THAT I HAD EXERCISED DISCRETION IN THEIR ACCOUNTS EXCEEDING $10,000 EACH (AMOUNTS ARE APPROXIMATELY $12,500, $36,000 & $70,00).

SMITH BARNEY HAS SETTLED WITH MR. RUTSTEIN AND MR. JONES AND ATTEMPTING TO SETTLE WITH MR. SCHOOLEY. THE TOTAL AMOUNT OF MY PARTICIPATION IN THE SETTLEMENT WILL BE TERMINATED ONCE A SETTLEMENT IS REACHED WITH MR. SCHOOLEY. Not Provided

WHILE REGISTERED AT SMITH BARNEY, [CUSTOMER] COMPLAINED THAT I HAD EXERCISED DISCRETION IN HIS ACCOUNT. AMOUNT OF CLAIM--APPROX. $12,500.

$12,500.00

$12,836.37

SMITH BARNEY SETTLED WITH [CUSTOMER] FOR APPROXIMATELY $12,500. I HAD DISCUSSED THE TWO SECURITIES WHICH WERE EVENTUALLY PURCHASED FOR THE CUSTOMER ACCOUNTS WITH THE CUSTOMERS AND UNDERSTOOD I HAD BEEN ADVISED TO BUY IF THE SECURITIES APPEARED TO BE AT A PURCHASE PRICE WHICH WOULD BE FAVORABLE TO THE CUSTOMER. FOLLOWING THE PURCHASE AND THE SUBSEQUENT DROP IN THE PRICE OF THE SECURITIES, THE CUSTOMER COMPLAINED. I AM TRULY SORRY FOR HAVING ACTED WITHOUT EXPRESS WRITTEN AUTHORIZATION AND ALSO FOR HAVING POTENTIALLY, UNDULY CONCENTRATED ONE ACCOUNT WITH THE ACQUIRED SECURITIES. I HAVE LEARNED A VALUABLE LESSON FROM THE EVENT.

ALLEGED UNAUTHORIZED TRADING ON MARGIN; UNSUITABLE RECOMMENDATIONS, AND UNAUTHORIZED TRADING. NO SPECIFIC DAMAGES WERE ALLEGED.

$100,000.00

$65,000.00

SETTLEMENT AGREEMENT REACHED, TERMS OF WHICH INCLUDE PAYMENT OF SUM BY DIJULIO AGREED TO BY [CUSTOMER] AND DIJULIO. THIS COMPLAINT INVOLVED ONE OR BOTH OF EGGHEAD AND/OR LATIN AMERICAN FUND SECURITIES. BOTH EXPERIENCED STEEP DECLINES IN VALUE WHILE THE CUSTOMER(S) WHO IS THE SUBJECT OF THIS COMPLAINT WAS HEAVILY INVESTED IN THEM. THIS DECLINE TRIGGERED THE CUSTOMER'S DISSATISFACTION AND RESULTING COMPLAINT. ALTHOUGH I DENY ANY WRONGDOING IN CONNECTION WITH SOME OF THE ALLEGATIONS IN THIS COMPLAINT, AND AT ALL TIMES I ACTED IN ACCORDANCE WITH WHAT I BELIEVED TO BE THE CUSTOMER'S BEST INTEREST, I HAVE DEFINITELY LEARNED FROM THE MISTAKES I MADE WITH THESE SECURITIES AND THESE CUSTOMERS. I WILL NOT REPEAT THESE MISTAKES.

WHILE REGISTERED AT SMITH BARNEY, [CUSTOMER] COMPLAINED THAT I HAD EXERCISED DISCRETION IN HIS ACCOUNT. AMOUNT OF CLAIM APPROXIMATELY $36,000.

$36,000.00

$36,257.64

SMITH BARNEY SETTLED WITH [CUSTOMER] FOR APPROXIMATELY $36,000. I HAD DISCUSSED THE TWO SECURITIES WHICH WERE EVENTUALLY PURCHASED FOR THE CUSTOMER ACCOUNT WITH THE CUSTOMER AND UNDERSTOOD I HAD BEEN ADVICED TO BUY IF THE SECURITIES APPEARED TO BE AT A PURCHASE PRICE WHICH WOULD BE FAVORABLE TO THE CUSTOMER. FOLLOWING THE PURCHASE AND THE SUBSEQUENT DROP IN THE PRICE OF THE SECURITIES, THE CUSTOMER COMPLAINED. I AM TRULY SORRY FOR HAVING ACTED WITHOUT EXPRESS WRITTEN AUTHORIZATION AND ALSO FOR HAVING POTENTIALLY, UNDULY CONCENTRATED ONE ACCOUNT WITH THE ACQUIRED SECURITIES. I HAVE LEARNED A VALUABLE LESSON FROM THE EVENTS.