FINRA

Without admitting or denying the findings, Carver consented to the sanction and to the entry of findings that he refused to produce information and documents requested by FINRA in connection with an investigation into an investment-related customer complaint.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All capacities

Indefinite

1/2/2020

Client alleges that between 3/2018 and 11/2018 Rep made high number of trades and earned excessive commissions. She alleges that at end of stated period her account had lost some of its value.

$62,302.00

$20,000.00

FINRA

Carver was named a respondent in a FINRA complaint alleging that he willfully failed to timely amend his Form U4 to disclose three unsatisfied Internal Revenue Service tax liens totaling approximately $92,000 that were filed against him. The complaint alleges that Carver falsely attested to his member firm on an annual compliance questionnaire that he was in compliance with FINRA's Form U4 disclosure requirements.

Decision

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

$7,500.00

Suspension

All Capacities

seven months

6/17/2019

1/16/2020

The decision includes a finding that Carver willfully failed to disclose a material fact on a Form U4, and that under Section 3(a)(39)(F) of the Securities Exchange Act of 1934 and Article III, Section 4 of the FINRA By-Laws, this omission make him subject to a statutory disqualification with respect to association with a member.

Default decision rendered May 13, 2019 wherein Carver is suspended from association with any FINRA member in all capacities for seven months and fined $7,500. The sanctions are based on findings that Carver willfully failed to timely disclose three tax liens on his Uniform Application for Securities Industry Registration or Transfer (Form U4). The findings stated that Carver falsely attested to his member firm on an annual questionnaire that he made all required disclosures and that he complied with FINRA's Form U4 disclosure requirements. The decision became final on June 10, 2019 and the suspension shall become effective at the opening of business on June 17, 2019.

Financial exploitation of the elderly, negligence, breach of fiduciary duty, unlawful conversion, breach of Illinois consumer fraud Act, Fraud, negligent misrepresentation, breach of FINRA regulations, and breach of Illinois and federal securities laws.

$3,000,000.00

$1,500,000.00

CETERA ADVISORS, LLC

Discharged

Violated Firm policy for not disclosing gifts from client.

The client was my 87 year old uncle and I was a co-signee on his bank acct in order to pay his bills and manage his expenses. In return he gave me some compensation for doing this for him.

$45,013.45

Tax

OLDER JUDGEMENTS FROM DIVORCE AND AUDITS. PAYMENT PLAN AGREED IN 2015 AND PAYING $1000 MONTHLY EVER SINCE.

$21,926.00

Tax

AN AUDIT IN 2007 RESULTED IN TAXES BEING OWED AND A DIVORCE IN 2010 ALSO RESULTED IN TAXES BEING OWED. I HAVE BEEN MAKING PAYMENTS OF $1000 A MONTH AGREED BY THE IRS SINCE 2015.

$24,980.00

Tax

This lien is from tax 2011 and is the result of a divorce. Payment plan in place since 2015 for $1000 per month.

LPL FINANCIAL

Permitted to Resign

THE FIRM REVIEWED DOCUMENTS INDICATING INVOLVEMENT BY MR. CARVER IN AN OUTSIDE BUSINESS ACTIVITY WITHOUT THE PRIOR WRITTEN APPROVAL OF THE FIRM.

A nuisance customer complaint led to an allegation of an unreported outside business activity (OBA). I was not involved in the alleged OBA. The customer complaint was denied and FINRA investigated the customer complaint and OBA and closed the investigation regarding these issues with no action.

ALLEGES MR. CARVER ACTED AS A SELLING AGENT FOR HIS SPOUSE IN HOMEGROWN ENGERY/HAVANA ETHANOL WITHOUT DISCLOSING THE FACT TO POTENTIAL BUYERS/INVESTORS OF SPOUSE'S INVOLVEMENT.

$1,036,000.00

MR. CARVER MAINTAINS THAT HE DID NOT SOLICIT OR RECOMMEND INVESTMENTS IN HOMEGROWN ENERGY/ HAVANA ETHANOL. MR. CARVER MAINTAINS THAT THE ALLEGATIONS PERTAIN TO THE PURCHASE OF LAND THAT IS THE SUBJECT OF A LAWSUIT IN ILLINOIS STATE COURT BETWEEN HAVANA ETHANOL AND CLIENT, [CUSTOMER]. [CUSTOMER] HAS NEVER BEEN AN INVESTOR IN HOMEGROWN ENERGY/ HAVANA ETHANOL.

ROBERT W. BAIRD & CO. INCORPORATED

Permitted to Resign

VERBAL CUSTOMER COMPLAINT AND FAILED TO OBTAIN MANAGER APPROVAL OF CORRESPONDENCE

Customer accused me of making an unauthorized trade in his account. I was on vacation when this incident occurred and Baird found out transaction was a stop loss that was triggered in his account, not a new transaction. Unauthorized correspondence was public information sent to a friend who was not a client. Baird arbitrated against me to recover part of my signing bonus as a result of my termination. Arbitrators found in my favor and Baird had to pay me $5362.81 in compensatory damages. The arbitration panel recommended the modification of my U5 - should read resigned instead of permitted to resign. The reason for termination should be removed from the U5. However Baird never amended the document.