FINRA

WITHOUT ADMITTING OR DENYING THE FINDINGS, POWER CONSENTED TO THE SANCTION AND TO THE ENTRY OF FINDINGS THAT HE MISUSED $5,000 IN CUSTOMER FUNDS, WHEN RATHER THAN APPLY THE FUNDS TO THE ACCOUNTS OF THE CUSTOMERS, POWER MADE PERSONAL USE OF THE FUNDS WITHOUT THE KNOWLEDGE OR CONSENT OF THE CUSTOMERS. THE FINDINGS STATED THAT POWER TOLD CUSTOMERS, A MARRIED COUPLE AND TWO BUSINESS PARTNERS THAT HE HAD UNDERCHARGED THEM FOR FEES RELATED TO TRADING IN THEIR BROKERAGE ACCOUNTS AND REQUESTED THAT THE CUSTOMERS ISSUE CHECKS TO HIM TO PAY FEES OWED. AS A CONSEQUENCE, THE MARRIED COUPLE ISSUED THREE CHECKS, TOTALING $4,500 TO POWER TO BE USED TO PAY FEES OWED FOR TRADES IN THEIR ACCOUNTS. THE BUSINESS PARTNERS ISSUED ONE CHECK IN THE AMOUNT OF $500 TO POWER, TO BE USED TO PAY FEES OWED FOR TRADES IN THEIR ACCOUNT. THE CUSTOMERS HAD BEEN CHARGED APPROPRIATE COMMISSIONS BY THE FIRM FOR TRADES IN THEIR FIRM ACCOUNTS, AND NO OTHER AMOUNTS WERE DUE AS A RESULT OF TRADES EXECUTED BY POWER.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

8/18/2014

ARKANSAS SECURITIES DEPARTMENT

ARKANSAS SECURITIES COMMISSIONER A. HEATH ABSHURE ENTERED CONSENT ORDER NUMBER S-14-0002-14-OR01 IN THE MATTER OF JIMMY EARL POWER JR. (CRD# 3045120) ON AUGUST 1, 2014. THE CONSENT ORDER IS BASED UPON POWER'S ACTIVITY AS A BROKER-DEALER AGENT WITH VALIC FINANCIAL ADVISORS, INC. FROM ON OR ABOUT SEPTEMBER 7, 2012, THROUGH HIS TERMINATION ON JANUARY 24, 2013, AND WITH QUESTAR CAPITAL CORPORATION FROM MARCH 26, 2013, THROUGH HIS DISCHARGE ON OCTOBER 31, 2013. AN INVESTIGATION BY THE ARKANSAS SECURITIES DEPARTMENT INITIATED BY A CUSTOMER COMPLAINT AND A DISCHARGE BY QUESTAR FOUND THAT POWER VIOLATED ARK. CODE ANN. § 23-42-308(A)(2)(B) AND (G) WHEN HE REPEATEDLY VIOLATED THE SUPERVISORY AND COMPLIANCE PROCEDURES OF VALIC FINANCIAL ADVISORS, INC. AND QUESTAR CAPITAL CORPORATION DESPITE ATTESTING TO HIS REVIEW AND UNDERSTANDING OF THE FIRMS' SUPERVISORY AND COMPLIANCE PROCEDURES AND FEDERAL AND STATE SECURITIES LAWS AND REGULATIONS, AS DESCRIBED IN THE CONSENT ORDER. POWER VIOLATED ARK. CODE ANN. § 23-42-308(A)(2)(B) AND (G) AND RULE 308.01(C), (P), AND (Y) WHEN POWER REQUESTED AND ACCEPTED MONEY FOR NONEXISTENT, UNDISCLOSED ACCOUNT FEES FROM TWO ARKANSAS CLIENTS ("AR1" AND "AR2") AND ACCEPTED MONEY FROM TWO OTHER ARKANSAS CLIENTS ("AR3" AND "AR4") AS ADDITIONAL, UNWARRANTED COMPENSATION FOR HIS WORK AS THEIR AGENT. POWER VIOLATED ARK. CODE ANN. § 23-42-507(2) BY MAKING UNTRUE STATEMENTS OF MATERIAL FACTS REGARDING THE NONEXISTENT ACCOUNT FEES POWER REQUESTED FROM AR1 AND AR2 FOR HIS SECURITIES WORK, AND BY OMITTING TO STATE MATERIAL FACTS NECESSARY IN ORDER TO MAKE THE STATEMENTS MADE REGARDING POWER'S RECEIPT OF MONEY FROM AR3 AND AR4 TO COMPENSATE HIM FOR HIS SECURITIES WORK, IN THE LIGHT OF THE CIRCUMSTANCES UNDER WHICH THEY WERE RECEIVED, NOT MISLEADING. POWER VIOLATED ARK. CODE ANN. § 23-42-308(A)(2)(B) AND (G) AND RULE 308.01(X) WHEN HE FAILED TO OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPLES OF TRADE BY REQUESTING AND ACCEPTING CUSTOMER MONEY THROUGH MATERIAL MISSTATEMENTS AND OMISSIONS REGARDING ITS USE AND REPEATEDLY VIOLATING VALIC'S AND QUESTAR'S SUPERVISORY AND COMPLIANCE PROCEDURES, IN VIOLATION OF FINRA RULE 2010, AND IMPROPERLY USED CUSTOMERS' FUNDS, IN VIOLATION OF FINRA RULE 2150(A). PURSUANT TO THE CONSENT ORDER, POWER'S APPLICATION FOR REGISTRATION WITH KEYSTONE CAPITAL CORPORATION (CRD# 10722) WILL BE DENIED AS OF THE DATE OF THE ORDER, AND HIS REGISTRATION AS A BROKER-DEALER AGENT IN ARKANSAS WILL BE REVOKED AS OF JANUARY 3, 2014, THE LAST DATE ON WHICH POWER'S REGISTRATION WAS EFFECTIVE IN ARKANSAS. ADDITIONALLY, POWER WILL REPAY CERTAIN UNLAWFULLY-OBTAINED SUMS TOTALING $5,000.00 TO AR1, AR2, AR3, AND AR4 WITHIN SIXTY DAYS OF THE DATE OF THE ORDER.

Consent

Cease and Desist

Denial

Monetary Penalty other than Fines

$5,000.00

Revocation