Florida Office of Financial Regulation

Rendered investment advice, from a location within Florida, without being registered by the Office.

Order

Cease and Desist

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

$72,500.00

On February 15, 2023, the Office of Financial Regulation (Office) entered a Final Order adopting the Stipulation and Consent Agreement in the matter of Gary James Najarian d/b/a Perpetual Financial (Perpetual Financial) and Gary James Najarian (Najarian). Najarian neither admitted nor denied the allegations but consented to the entry of findings by the Office. The Office found that Perpetual Financial and Najarian violated Section 517.12(4), Florida Statutes, by rendering investment advice, from a location within Florida, without being registered by the Office. Najarian agreed to Cease and Desist from violations of Chapter 517, Florida Statutes, and the Administrative Rules adopted thereto, and to pay an administrative fine in the amount of $72,500. The Office agreed to approve Perpetual Financial's application as a registered investment adviser and Najarian's application as an associated person (RA) with Perpetual Financial effective February 15, 2023. **Monetary Sanction Paid in Full. **

UNSUITABLE INVESTMENTS MUTUAL FUND- ALLEGED $50,000.00 +

$200,000.00

$50,000.00

MERRILL LYNCH SETTLED WIHOUT GOING TO HEARING WITHOUT MY TESTIMONY. BOTH MERRILL AND I VIGOROUSLY DENY ANY WRONGDOING. THE CLIENT AUTHORIZED EACH AND EVERY TRANSACTION AND WAS ALL AWARE OF EVERY SECURITY HE OWNED INCLUDING TYPE, AMOUNT AND INVESTMENT CATEGORY. THE COMPLAINT WAS SETTLED FOR $50,000. Not Provided