Negligence, Common law fraud, negligent misrepresentations, breach of fiduciary duty, and violation of Florida Securities Protection Act.

$1,000,000.00

$325,000.00

Suitability, Misrepresentation, Breach of Fiduciary Duty, Violation of FINRA Conduct rules, Negligence, Breach of Contract, and Vicarious Liability.

$32,500.00

FINRA

Without admitting or denying the findings, Hickman consented to the sanctions and to the entry of findings that he engaged in an unsuitable pattern of short-term trading of unit investment trusts (UITs) in six customer accounts. The findings stated that Hickman repeatedly recommended that the customers purchase UITs and then sell these products within a year of purchase. The UITs that Hickman recommended had maturity dates of 24 months or longer and carried sales charges of up to 3.95%, Nevertheless, on dozens of occasions, Hickman recommended that his customers sell their UIT positions less than a year after purchase. Indeed, the average holding period for the UITs purchased in these six customers' accounts was just 136 days. In addition, on several occasions, Hickman recommended that his customers use the proceeds from the short-term sale of a UIT to purchase another UIT with similar or even identical investment objectives. As a result of these transactions, the six customers at issue suffered losses of approximately $115,989.75.

Acceptance, Waiver & Consent(AWC)

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

$5,000.00

Restitution

$115,989.75

Suspension

All Capacities

Five months

6/19/2017

11/18/2017

interest

BREACH OF FIDUCIARY DUTY, VIOLATION OF FINRA RULES, NEGLIGENCE, BREACH OF CONTRACT, AND ELDER ABUSE

$265,000.00

$150,000.00

Client made money through the duration of the time that I was actively her advisor at Cetera. Her account was invested in securities that declined from after June 30 2015, following my departure. The settlement was reached in order to prevent further legal costs.

THE CUSTOMER ALLEGES UNSUITABLE INVESTMENT RECOMMENDATIONS AND FAILURE TO FOLLOW INSTRUCTIONS.

$25,000.00

[CUSTOMER] WAS A CLIENT I INHERITED FOR A SHORT PERIOD OF TIME. I DISAGREED WITH HIS AGGRESSIVE STRATEGIES WHICH INCLUDED DAY TRADING ON AN INVESTMENT AMOUNT THAT WAS NOT WORTH RISKING AT HIS AGE. THIS COMPLAINT IS WITHOUT MERIT.

CLAIMANT ALLEGES UNSUITABLE INVESTMENTS AND UNAUTHORIZED TRADING DURING THE TIME PEROID OF AUGUST 2008 THROUGH FEBRUARY 2009.

$334,942.00

$75,000.00

THE FORMER CLIENT SUED TWO (2) FORMER BROKERAGE FIRMS THAT MERGED DURING THE FINANCIAL CRISIS OF 2008-SIMULTANEOUSLY. IT WAS OVER THE DECLINE IN VALUES. I RECOMMENDED A SHIFT IN FOCUS TO MORE OF AN INVESTMENT GRADE BOND PORTFOLIO THAT I FELT WAS APPROPRIATE. THE INVESTMENT GRADE BONDS THAT WERE PURCHASED HAVE IMPROVED IN VALUE AS OF THIS TIME FROM THE PURCHASE PRICE AND DATE- AS WELL AS AT THE TIME OF THE TRANSFER AWAY FROM BANC OF AMERICA INVESTMENTS. THE CLIENT HAD A HIGH CONCENTRATION OF EQUITY FUND EXPOSURE AND I SOUGHT TO REDUCE THAT AND INCREASE INCOME FOR RETIREMENT THROUGH THE USE OF BONDS.

ATTORNEY FOR CUSTOMER CLAIMS THE TRADING IN THE ACCOUNT FROM APRIL 2006 UNTIL NOVEMBER 2008 WAS NOT SUITABLE FOR CLIENT. COMPENSATORY DAMAGES UNSPECIFIED IN COMPLAINT BUT $1,500,000 IN THE ARBITRATION.

$1,500,000.00

$650,000.00

BANC OF AMERICA INVESTMENT SERVICES STOPPED ACCOUNTS FROM PERFORMING OPTIONS TRADES, OTHER THAN TO CLOSE OUT POSITIONS; AND BASICALLY REQUIRED CLIENTS TO LIQUIDATE THEIR PORTFOLIOS SHOULD THEY DESIRE TO CLOSE OUT THOSE POSITIONS. THIS CLIENT HAD AN ACCOUNT IN EXCESS OF 3 MILLION DOLLARS, (ONE OF SEVERAL) OVER SEVEN YEARS' EXPERIENCE IN OPTION TRADING, AND HAD GENERATED VERY HIGH RETURNS UNTIL 2008 MAINLY USING A PUT SELLING STRATEGY. WHEN THE CLIENT COULD NO LONGER TRADE THE OPTIONS WITH BANC OF AMERICA INVESTMENT SERVICES, I ADVISED HER TO MOVE TO ANOTHER FIRM BUT SHE DID NOT. THE RESULTING PERFORMANCE OF THE MARKET, COMBINED WITH THE ACTIONS OF THE FIRM IN FREEZING OPTIONS TRANSACTIONS IN THE ACCOUNT, AND THE CLIENT'S DECISION TO NOT MOVE TO A FIRM THAT WOULD ALLOW OPTIONS ACTIVITY CONTRIBUTED TO DECLINES IN THE ACCOUNT VALUE. ALL EQUITY RECOMMENDATIONS WERE ON THE "FIRMS BUY" LIST OR UNSOLICITED PURCHASES, SPECIFICALLY A SIGNIFICANT POSITION IN WASHINGTON MUTUAL.

THIS VERBAL COMPLAINT AROSE OUT OF THE SALE OF AN AUCTION RATE SECURITY (ARS) THAT WAS MADE PRIOR TO THE UNPRECEDENTED ILLIQUIDITY IN THE ARS MARKET THAT OCCURRED IN FEBRUARY 2008.

$50,000.00

THIS MATTER INVOLVES THE SALE OF AUCTION RATE SECURITIES (ARS). THE TRANSACTION(S) AT ISSUE TOOK PLACE BEFORE MID-FEBRUARY 2008, WHEN THE ARS MARKET SUFFERED WIDESPREAD AUCTION FAILURES AND ILLIQUIDITY. THE FINANCIAL ADVISOR DID NOT CAUSE, CONTRIBUTE OR HAVE ANY CONTROL WHATSOEVER OVER THESE MARKET EVENTS. THE FIRM REACHED AGREEMENT WITH CERTAIN OF ITS REGULATORS, PURSUANT TO WHICH IT REPURCHASED ARS FOR THEIR FULL PAR VALUE FROM CERTAIN CLIENTS, INCLUDING THE INSTANT CLIENT, WHERE THEY COMPLAINED OR NOT. THE FINANCIAL ADVISOR WAS NOT A PARTY TO THAT AGREEMENT, DID NOT MAKE ANY PAYMENT TO THE CLIENT, AND WAS NOT ASKED TO AND DID NOT CONTRIBUTE TO THE REPURCHASE AMOUNT. THE SETTLEMENT AMOUNT IN ITEM 11 ABOVE REFLECTS THE PAR VALUE OF THE REPURCHASED ARS, AS REQUIRED BY FINRA REGULATORY NOTICE 09-12.

CUSTOMERS ALLEGED REGISTERED REPRESENTATIVE MADE UNSUITABLE AND UNAUTHORIZED OPTION TRADES IN THEIR ACCOUNT FROM JUNE 2002 UNTIL JANUARY 2007. ALLEGED DAMAGES OF $140,000.

$140,000.00

$32,500.00

COMPLAINT WENT DIRECTLY TO ARBITRATION. $27,500 RELEASED RJFS AND HICKMAN FOR THE TIME PERIOD HE WAS WITH RJFS. $5,000 RELEASED BANC OF AMERICA INVESTMENT SERVICES, INC. AND HICKMAN FOR THE TIME PERIOD HE WAS WITH BANC OF AMERICA INVESTMENT SERVICES, INC.

CLIENT COMPLAINED ABOUT LOSSES IN HER ACCOUNT. HE CLAIMED HE WAS A CONSERVATIVE INVESTOR WITH CONSERVATIVE OBJECTIVES. NO COMPENSATORY DAMAGES CLAIMED, BUT APPEAR TO BE GREATER THAN $5000. ALLEGATION ACTIVITY DATES: 7/11/05 - 9/30/05.

CLAIM DENIED.