FINRA

FINRA RULES 2010, 3240, 3270, 8210, NASD RULES 2110, 3030: SCHIEBER FAILED TO APPEAR FOR A FINRA REQUESTED ON-THE-RECORD INTERVIEW IN CONNECTION WITH AN INVESTIGATION INTO THE CIRCUMSTANCES SURROUNDING THE TERMINATION OF HIS EMPLOYMENT AT A MEMBER FIRM. SCHIEBER FAILED TO NOTIFY HIS FIRM THAT HE WAS ENGAGING IN AN OUTSIDE BUSINESS ACTIVITY BY ACTING AS A TRUSTEE FOR A FIRM CUSTOMER. THE FIRM PROHIBITED ITS REGISTERED REPRESENTATIVES FROM ACTING IN A FIDUCIARY RELATIONSHIP TO ITS CUSTOMERS AND SPECIFICALLY PROHIBITED ITS REGISTERED REPRESENTATIVES FROM ACTING AS TRUSTEES FOR CUSTOMERS. SCHIEBER BORROWED $7,500 FROM A CUSTOMER BUT NEVER SOUGHT HIS FIRM'S PERMISSION TO BORROW FUNDS FROM THE CUSTOMER, NOR DID HE INFORM THE FIRM THAT HE HAD RECEIVED THE LOAN. THE FIRM'S WRITTEN PROCEDURES DID NOT PERMIT SCHIEBER TO BORROW FUNDS FROM THE CUSTOMER.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

Indefinite

1/8/2013

WITHOUT ADMITTING OR DENYING THE FINDINGS, SCHIEBER CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS; THEREFORE HE IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY.

STATE OF ILLINOIS, ILLINOIS SECURITIES DEPARTMENT

RESPONDENTS ENGAGED IN PRACTICES IN CONNECTION WITH THE SALE OF SECURITIES THAT WORKED A FRAUD OR DECEIT ON THE PURCHASER VIOLATING SECTION 12.G OF THE ILLINOIS SECURITIES LAW OF 1953, 815 ILCS 5/1 ET SEQ.,(THE "ACT"). RESPONDENTS OBTAINED INVESTORS MONEY BY MAKING UNTRUE STATEMENT OF MATERIAL FACT AND OMISSION TO STATE A MATERIAL FACT VIOLATING SECTIONS 12.F OF THE ACT. RESPONDENTS FAILED TO RESPOND TO THE ILLINOIS SECRETARY OF STATE SECURITIES DEPARTMENT, VIOLATING SECTIONS 12.D OF THE ACT.

Order

Prohibition