FINRA

FINRA RULES 2010, 8210, NASD RULE 2110: TROY EARNED OVER $250,000 IN COMMISSIONS BY ILLEGALLY TRANSFERRING RETIREMENT ACCOUNTS VALUED AT APPROXIMATELY $9 MILLION FROM THE STATE OF TEXAS' RETIREMENT SYSTEM TO PRIVATE RETIREMENT ACCOUNTS OF HIS MEMBER FIRM. TO ACCOMPLISH THE TRANSFERS, TROY FORGED CERTAIN RECORDS, AND ALTERED OR FALSIFIED TRANSFER DOCUMENTS TO INDICATE THAT THE EMPLOYEES HAD RETIRED, BEEN FIRED OR OTHERWISE SEPARATED FROM THEIR EMPLOYERS. IN REALITY, THE EMPLOYEES WERE STILL EMPLOYED BY THE EMPLOYERS. TEXAS LAW PROHIBITS PUBLIC EMPLOYEES FROM TRANSFERRING MONEY FROM CERTAIN STATE RETIREMENT ACCOUNTS UNTIL AFTER EMPLOYMENT ENDS. IN OTHER INSTANCES, TROY MADE MISREPRESENTATIONS TO EMPLOYEES IN ORDER TO GET THEM TO AGREE TO THE TRANSFERS AND TO EXECUTE THE TRANSFER DOCUMENTS. IN CONNECTION WITH A CRIMINAL MATTER INVOLVING THESE FACTS, TROY PLED GUILTY TO 12 FELONY COUNTS OF FORGERY, 24 FELONY COUNTS OF SECURING EXECUTION OF A DOCUMENT BY DECEPTION, AND 23 COUNTS OF MISAPPLICATION OF FIDUCIARY PROPERTY. TROY FAILED TO RESPOND TO A FINRA REQUEST FOR INFORMATION REGARDING THESE FACTS.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

10/7/2010

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