Bankruptcy

Discharged

Florida Office of Financial Regulation

Consent and suspension is based off FINRA 5/31/2019 regulatory action.

Consent

Suspension

All

18 months

7/1/2019

12/31/2020

Tennessee Securities Division

The respondent failed to timely disclose a regulatory action by another state securities regulator.

Order

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

$4,000.00

Suspension

Insurance Producer

six months

2/23/2022

8/23/2022

The respondent is ordered to enter a heightened supervision agreement with his current employer, Rowe Consulting Group, L.L.C. (CRD# 155611).

FINRA

Without admitting or denying the findings, Strnad consented to the sanctions and to the entry of findings that he executed unauthorized transactions involving bank-issued certificates of deposit (CDs) in accounts of an elderly customer. The findings stated that although the customer verbally authorized Strnad to purchase new CD issuances after maturity of prior CD issuances, he exceeded the scope of his authority by selling CDs held by the customer prior to maturity, nearly always at a loss, and using the proceeds to purchase new CDs for the customer. Strnad execution of these transactions in the customer's accounts caused him to incur losses of approximately $100,572, net of interest. After the customer's daughter complained on his behalf, Strnad's member firm provided compensation to the customer. Strnad inaccurately marked some of these transactions as "unsolicited." Strnad's trading caused the customer to pay $4,268.73 in unnecessary commissions.

Acceptance, Waiver & Consent(AWC)

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

$10,000.00

Disgorgement

$4,268.73

Suspension

All capacities

18 months

6/3/2019

12/2/2020

Fines paid in full on December 30, 2020.

CLIENT'S DAUGHTER ALLEGES CHURNING WITH RESPECT TO THE TRADING OF CERTIFICATES OF DEPOSIT IN HER FATHER'S TRUST ACCOUNTS. 2013-2015 ALLEGED DAMAGES UNSPECIFIED.

$89,646.40

ALLEGES THAT STRNAD DID UNAUTHORIZED TRADES.

$500,000.00

$30,000.00