FINRA

FINRA RULES 2010, 8210, NASD RULES 2110, 2370, 3030, 3110(A): NONA PUT $125,000 INTO ONE OF HIS OWN INVESTMENT ACCOUNTS, ALLEGEDLY INTENDING TO INVEST THE MONEY FOR A CUSTOMER, HOWEVER, THE CUSTOMER NEVER RECEIVED REPAYMENT OF THE $125,000. NONA FAILED TO USE THE $125,000 FOR ITS INTENDED PURPOSE, WHICH WAS TO INVEST IT FOR THE CUSTOMER'S BENEFIT. AFTER THE $125,000 WAS TRANSFERRED FROM AN ACCOUNT AT NONA'S MEMBER FIRM TO THE CUSTOMER'S JOINT BANK ACCOUNT WITH HIS MOTHER, THE CUSTOMER RECEIVED NUMEROUS ACCOUNT STATEMENTS. THESE ACCOUNT STATEMENTS IDENTIFY THAT THEY WERE PREPARED FOR THE CUSTOMER, ALBEIT HIS NAME IS MISSPELLED IN THE STATEMENTS, THAT THEY ARE "BROKERAGE ACCOUNT STATEMENTS" AND THAT "FADI NONA" IS THE "INVESTMENT REPRESENTATIVE." ADDITIONALLY, THE STATEMENTS SIMPLY IDENTIFY THE WORD "REIT" UNDER THE "ASSET ALLOCATION" SECTION OF THE STATEMENTS AND SET FORTH THAT THE BEGINNING ACCOUNT VALUE IS $125,000. THE ACCOUNT STATEMENTS CLAIM THAT A 1% MONTHLY DIVIDEND WAS BEING PAID AND THAT THE INVESTMENT HAD APPRECIATED $20,000, AMONG OTHER THINGS. CERTAIN OF THESE STATEMENTS ALSO CONFUSE WHETHER A DIVIDEND WAS RECEIVED, PAID OUT OR DEDUCTED FROM THE CUSTOMER'S ALLEGED REIT ACCOUNT. NONA DID NOT PROVIDE WRITTEN DISCLOSURE OF HIS OUTSIDE BUSINESS ACTIVITIES, OR THE OTHER OUTSIDE BUSINESSES HE INCORPORATED, TO HIS MEMBER FIRMS. IN FACT, NONA CERTIFIED IN WRITING TO AT LEAST ONE OF HIS FIRMS THAT HE HAD NO OUTSIDE BUSINESS ACTIVITIES AT A TIME AFTER HE ALREADY INCORPORATED A COMPANY. NONA BORROWED $40,000 FROM A CUSTOMER, WHICH WAS A BANK CHECK FOR $40,000 AS A LOAN. NONA'S FIRM AT THE TIME OF THE LOAN HAD A POLICY IN PLACE PROHIBITING REGISTERED PERSONS FROM BORROWING FUNDS FROM CUSTOMERS. NONA CAUSED AT LEAST 18 TRADE TICKETS AND/OR TRADE CONFIRMATIONS PERTAINING TO SECURITIES PURCHASED AND/OR SOLD BY A CUSTOMER TO READ "UNSOLICITED" WHEN THEY WERE, IN FACT, "SOLICITED" ORDERS FROM NONA. NONA CAUSED HIS FIRM TO CREATE AND MAINTAIN INACCURATE BOOKS AND RECORDS, IN VIOLATION OF SECTION 17(A) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULE 17A-3 AND NASD RULES 2110 AND 3110. NONA FAILED TO RESPOND TO FINRA REQUESTS TO PROVIDE DOCUMENTS, INFORMATION AND TESTIMONY REGARDING HIS HANDLING OF THE CUSTOMER'S FUNDS AND ACCOUNT AND REGARDING OTHER BANKING AND INVESTMENT RELATED ACTIVITIES IN WHICH NONA WAS INVOLVED.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

Indefinite

10/25/2012

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