FINRA

Without admitting or denying the findings, Hajra consented to the sanctions and to the entry of findings that he effected nine unauthorized trades in a deceased customer's account. The findings stated that this matter originated from the Uniform Termination Notice for Securities Industry Registration (Form U5) filing by Haira's member firm that stated he had been terminated for making trades in a customer's account, based upon prior verbal authorization, while unaware that the client had died. The findings also stated that the customer authorized Haira to make several trades in her account, but he had not effectuated any of the trades at the time of her death. After the customer's death, Haira began executing the transactions. The total value of the transactions was $526,966.

Acceptance, Waiver & Consent(AWC)

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

$5,000.00

Suspension

All Capacities

30 Days

9/20/2021

10/19/2021

Wells Fargo Clearing Services, LLC.

Discharged

Financial Advisor effected trades in client account based upon prior verbal authorization, while unaware that client had died.

MCLAUGHLIN, PIVEN, VOGEL SECURITIES INC.

Discharged

VIOLATION OF FIRM POLICY.

COMPLIANCE OFFICER FAILED TO OFFER SPECIFIC REASON OF VIOLATION STATING THAT THE FIRM WAS CONSULTING WITH ATTORNEYS AS TO THE EXACT REASON TO CITE ON U-5. EXCESSIVE COPIES MADE IN RECENT MONTHS IN ATLANTA OFFICE. CLIENT INQUIRY TO REQUEST REVERSAL OF FEW TRANSACTIONS IN ACCOUNT WAS DISCUSSED THE WEEK THE BRANCH WAS SHUT DOWN. LACK OF PERSONAL PRODUCTION FOR THAT MONTH WAS A CONCERN FOR MPV. COMBINATION OF THESE AND OTHER FACTORS WERE MENTIONED AS PERHAPS SIGNS OF ME PLANNING TO LEAVE MPV FOR ANOTHER FIRM.

CLIENT MADE SEVERAL INVESTMENTS IN FEDERATED MUTUAL FUND 'B' SHARES OVER AN EXTENDED LENGTH OF TIME. CLIENT THEN REQUESTED ON 1/5/01 THAT ALL 'B' SHARES BE RETROACTIVELY CONVERTED TO 'A' SHARES AND CLIENT BE REIMBURSED FOR THE DIFFERENCE IN FEES. CLIENT ALSO REQUESTED THAT 3 RECENT PURCHASES IN OTHER SECURITIES BE REVERSED.

$24,362.72

MCLAUGHLIN. PIVEN, VOGEL SECURITIES INC. SIGNED A "SETTLEMENT AGREEMENT AND RELEASE" DOCUMENT WITH CLIENT. CLIENT'S SHARES IN FEDERATED FUNDS WERE CONVERTED FROM 'B' TO 'A'. CLIENT WAS REIMBURSED $24362.72.