Initiated By
NEW YORK STOCK EXCHANGE DIVISON OF ENFORCEMENT
Allegations
**4/5/04**CHARGES ISSUED BY NYSE DIVISION OF ENFORCEMENT AND PENDING CHARGES:CHARGE I GAIL PERRY-MASON, BY REASON OF THE FACTS SET FORTH IN THE STATEMENT OF FACTS AND EXPLANATION, ENGAGED IN CONDUCT INCONSISTENT WITH JUST AND EQUITABLE PRINCIPLES OF TRADE IN THAT, ON ONE OR MORE OCCASIONS, SHE ABUSED THE TRADE CORRECTION PROCESS BY CAUSING THE TRANSFER OF A TRADE AT A PRICE TO THE TRANSFEREE INFERIOR TO THE PREVAILING MARKET PRICE, AND SHE IS, THEREFORE, SUBJECT TO DISCIPLINE PURSUANT TO EXCHANGE RULE 476(A).CHARGE II GAIL PERRY-MASON, BY REASON OF THE FACTS SET FORTH IN THE STATEMENT OF FACTS AND EXPLANATION, ENGAGED IN CONDUCT INCONSISTENT WITH JUST AND EQUITABLE PRINCIPLES OF TRADE IN THAT, ON ONE OR MORE OCCASIONS, SHE CAUSED THE TRANSFER OF A TRADE WITH UNREALIZED LOSSES BETWEEN CUSTOMERS ACCOUNTS, AND SHE IS, THEREFORE, SUBJECT TO DISCIPLINE PURSUANT TO EXCHANGE RULE 476(A).CHARGE III
GAIL PERRY-MASON, BY REASON OF THE FACTS SET FORTH IN THE STATEMENT OF FACTS AND EXPLANATION, CAUSED HER MEMBER FIRM EMPLOYER TO VIOLATE REGULATION 240.17A-3 AND REGULATION 240.17A-4 UNDER THE SECURITIES EXCHANGE ACT OF 1934 AND EXCHANGE RULE 440 IN THAT SHE CREATED ONE OR MORE INACCURATE CORRECTION REQUEST FORMS, AND SHE IS, THEREFORE, SUBJECT TO DISCIPLINE PURSUANT TO EXCHANGE RULE 476(A).CHARGE IV GAIL PERRY-MASON, BY REASON OF THE FACTS SET FORTH IN THE STATEMENT OF FACTS AND EXPLANATION, VIOLATED EXCHANGE RULE 408(A) IN THAT ON ONE OR MORE OCCASIONS SHE EXERCISED DISCRETIONARY POWER IN A CUSTOMERS ACCOUNT WITHOUT FIRST OBTAINING WRITTEN AUTHORIZATION OF THE CUSTOMER, AND SHE IS, THEREFORE, SUBJECT TO DISCIPLINE PURSUANT TO EXCHANGE RULE 476(A).
**CONTINUED AT #14**
Resolution
Decision
Sanctions
Monetary/Fine
Amount
$7,500.00
Sanctions
Censure
Sanction Details
**3/4/05**HEARING PANEL DECISION ISSUED - HPD 04-186
HEARING PANEL DECISION:ABUSED THE TRADE CORRECTION PROCESS BY CAUSING THE TRANSFER OF A TRADE AT A PRICE INFERIOR TO THE PREVAILING PRICE, AND CAUSED THE TRANSFER OF A TRADE WITH UNREALIZED LOSSES BETWEEN CUSTOMERS' ACCOUNTS. CENSURE AND A $7,500 FINE.
Broker Comment
MS. PERRY-MASON WAS CENSURED AND FINED $7500.00 FOR THE
INCORRECT HANDLING OF THE TRADE CORRECTION PROCESS BY
CAUSING THE TRANSFER OF A TRADE AT A PRICE INFERIOR TO THE
PREVAILING MARKET PRICE, AND CAUSED THE TRANSFER OF A TRADE
WITH UNREALIZED LOSSES BETWEEN CUSTOMERS ACCOUNTS.