FINRA

Without admitting or denying the findings, Hilliard consented to the sanctions and to the entry of findings that he willfully failed to disclose on his Form U4 a civil judgment that was entered against Hilliard in the amount of $294,856.55 based on his failure to satisfy an arbitration award in the same amount. The findings stated that Hilliard received notice of this judgement. Notwithstanding Hilliard's knowledge of this judgment, he falsely answered "No" to Question 14M on his initial Form U4 with a FINRA member firm that was filed. Hilliard also willfully failed to disclose the judgment on subsequent amendments to his Form U4 that were made while he was associated with the firm.

Acceptance, Waiver & Consent(AWC)

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

$5,000.00

Suspension

Any capacity

three months

1/17/2017

4/16/2017

Respondent understands that this settlement includes a finding that he willfully omitted to state a material fact on a Form U4, and that under Section 3(a)(39)(F) of the Securities Exchange Act of 1934 and Article III, Section 4 of FINRA's By-Laws, this omission makes Respondent subject to a statutory disqualification with respect to association with a member.

FINRA

RESPONDENT HILLIARD FAILED TO COMPLY WITH AN ARBITRATION AWARD OR SETTLEMENT AGREEMENT OR TO SATISFACTORILY RESPOND TO A FINRA REQUEST TO PROVIDE INFORMATION CONCERNING THE STATUS OF COMPLIANCE.

Order

Suspension

ANY CAPACITY

N/A

3/13/2015

12/21/2015

ON FEBRUARY 20, 2015, HILLIARD FILED A REQUEST FOR A HEARING IN WHICH HE DID NOT ASSERT A STATEMENT OF DEFENSE. ON FEBRUARY 25, 2015, THE HEARING OFFICER ISSUED AN ORDER DIRECTING HILLIARD TO FILE A STATEMENT OF DEFENSE BY MARCH 10, 2015. HILLIARD WAS REMINDED THAT FAILURE TO COMPLY WITH THE ORDER DIRECTING HILLIARD TO FILE A STATEMENT OF DEFENSE MAY BE DEEMED A WAIVER OF ANY OPPORTUNITY FOR A HEARING, IN WHICH CASE THE NOTICE OF INTENT TO SUSPEND SHALL THEN BE DEEMED TO BE FINAL FINRA ACTION. HILLIARD DID NOT COMPLY WITH THE ORDER. PURSUANT TO RULE 9559(M), THE HEARING OFFICER DEEMS HILLIARD TO HAVE ABANDONED HIS DEFENSE AND WAIVED HIS RIGHT TO A HEARING. ACCORDINGLY, HILLIARD'S HEARING REQUEST IS DISMISSED, AND THE NOTICE OF SUSPENSION ISSUED BY FINRA STAFF PURSUANT TO RULE 9554 ON FEBRUARY 10, 2015, CONSTITUTES FINRA'S FINAL ACTION IN THIS PROCEEDING. WITH THE ISSUANCE OF THIS ORDER, HILLIARD IS SUSPENDED FROM ASSOCIATING WITH ANY MEMBER FIRM IN ANY CAPACITY. Suspension lifted on December 21, 2015.