UNITED STATES SECURITIES AND EXCHANGE COMMISSION

SEC Admin Release 34-78515/August 9, 2016: The Securities and Exchange Commission (Commission) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Exchange Act) against Terry Pickering Lobelsky. On September 9, 2015, pursuant to a plea agreement, Lobelsky pled guilty to one count of mail fraud in violation of Title 18, United States Code, Section 1341 before the United States District Court for the Southern District of Florida, in United States v. Terry Pickering Lobelsky, Case No. 15-cr-60171-WJZ (S.D. Fla. Sept. 9, 2015). On June 3, 2016, Lobelsky was sentenced to five years of reporting probation, including two years of home detention with electronic monitoring and the completion of 300 hours of community service, and ordered to make restitution in the amount of $248,797.82.

Order

Bar (Permanent)

See comments

Indefinite

8/9/2016

Participating in any offering of a penny stock

Indefinite

8/9/2016

Mail Fraud

Pled guilty

FINRA

PICKERING FAILED TO PAY FINES AND/OR COSTS OF $5,000.00 IN FINRA CASE #2011030155301.

LETTER

Revocation

PURSUANT TO RULE 8320, PICKERING'S REGISTRATION IS REVOKED AS OF CLOSE OF BUSINESS FOR FAILURE TO PAY FINES AND/OR COSTS.

FINRA

RESPONDENT PICKERING FAILED TO RESPOND TO FINRA REQUEST FOR INFORMATION.

LETTER

Bar (Permanent)

All Capacities

Indefinite

1/21/2014

PURSUANT TO FINRA RULE 9552(H) AND IN ACCORDANCE WITH FINRA'S INTENT TO SUSPEND AND NOTICE OF SUSPENSION LETTERS DATED OCTOBER 17, 2013 AND NOVEMBER 12, 2013, RESPECTIVELY, ON JANUARY 21, 2014 PICKERING IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY. RESPONDENT FAILED TO REQUEST TERMINATION OF HER SUSPENSION WITHIN THREE MONTHS OF THE DATE OF THE NOTICE OF INTENT TO SUSPEND; THEREFORE, SHE IS AUTOMATICALLY BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY.

FINRA

SECTION 17(A) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULE 17A-3 THEREUNDER, FINRA RULE 2010 AND NASD RULE 3110: PICKERING WAS THE PRIMARY ADMINISTRATIVE ASSISTANT FOR A GENERAL SECURITIES REPRESENTATIVE OF HER MEMBER FIRM AND PRIOR TO THIS MISCONDUCT, PICKERING AND THE REGISTERED REPRESENTATIVE HAD ACCEPTED AN OFFER OF EMPLOYMENT WITH ANOTHER FINRA REGISTERED FIRM. THE REGISTERED REPRESENTATIVE NEGLIGENTLY MADE A STATEMENT THAT PICKERING INTERPRETED AS AN INSTRUCTION TO ALTER HIS CUSTOMER'S TELEPHONE RECORDS IN THE FIRM'S CLIENT ACCOUNT INFORMATION SYSTEM (CAI SYSTEM), THE FIRM'S ELECTRONIC DATABASE THAT CONTAINED CUSTOMER INFORMATION. PICKERING ACTED UNDER THE GOOD FAITH BELIEF THAT SHE HAD RECEIVED AN INSTRUCTION FROM THE REGISTERED REPRESENTATIVE WHOM SHE WAS TASKED TO ASSIST AND FROM WHOM SHE REGULARLY TOOK DIRECTION. PICKERING CHANGED OR DELETED APPROXIMATELY 109 TELEPHONE NUMBERS, AFFECTING APPROXIMATELY 40 CUSTOMERS, TO REPORT INACCURATE INFORMATION. PICKERING MADE THESE CHANGES WITHOUT THE CUSTOMER'S KNOWLEDGE OR CONSENT AND CAUSED HER FIRM TO CREATE AND MAINTAIN INACCURATE BOOKS AND RECORDS. ON THE MORNING OF THE NEXT DAY, PRIOR TO THE FIRM'S DETECTION OF HER CONDUCT, PICKERING ACCESSED THE CAI SYSTEM AGAIN AND REVERSED AT LEAST SOME OF THE ALTERATIONS SHE HAD MADE THE DAY BEFORE. LATER THAT SAME DAY, THE FIRM'S BRANCH OFFICE MANAGEMENT RECEIVED A REPORT THAT PICKERING HAD MADE NUMEROUS CHANGES TO CUSTOMER CONTACT INFORMATION VIA THE FIRM'S CAI SYSTEM. THE FIRM QUERIED PICKERING ABOUT THE ALTERATIONS AND SHE ADMITTED THAT SHE MADE THE CHANGES. THE FIRM IMMEDIATELY SUSPENDED PICKERING'S EMPLOYMENT AND SHE SUBSEQUENTLY RESIGNED.

Acceptance, Waiver & Consent(AWC)

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

$5,000.00

Suspension

ANY CAPACITY

10 BUSINESS DAYS

5/20/2013

6/3/2013

WITHOUT ADMITTING OR DENYING THE FINDINGS, PICKERING CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS, THEREFORE SHE IS FINED $5,000 AND SUSPENDED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY FOR 10 BUSINESS DAYS. THE SUSPENSION IS IN EFFECT FROM MAY 20, 2013 THROUGH JUNE 3, 2013.

WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, SILVERMAN CONSENTED TO AN ACCEPTANCE WAIVER AND CONSENT, INCLUDING THE SANCTIONS DESCRIBED THEREIN.