FINRA

Without admitting or denying the findings, Likens consented to the sanctions and to the entry of findings that he borrowed $23,500 from two customers without disclosing the loans to his member firm or receiving its approval to borrow from the customers. The findings stated that Likens did not repay the loans on schedule and did not begin to repay the loans until repeated requests were made. The firm's WSPs prohibited lending arrangements between associated persons and customers except for with prior approval and under limited circumstances that did not cover the loans Likens received. The findings also stated that Likens made false attestations to his firm on annual compliance questionnaires that he had not made loans to or borrowed from any customer.

Acceptance, Waiver & Consent(AWC)

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

$10,000.00

Suspension

all capacities

15 months

7/17/2017

10/16/2018

INTERNATIONAL ASSETS ADVISORY, LLC

Discharged

FAILURE TO RESPOND TO FINRA REQUEST IN VIOLATION OF FINRA RULE 8210.

CLAIMANT'S REPRESENTATIVE ALLEGES THE FINANCIAL ADVISOR MISREPRESENTED THE FEES ASSOCIATED WITH A MANAGED ACCOUNT FROM 8/15/2014 TO 8/3/2016.

$6,901.00

$6,901.00

I BELIEVE THIS COMPLAINT IS COMPLETELY WITHOUT MERIT. MY FEES FOR FEE BASED ACCOUNTS WERE LOW AND DISCOUNTED. I ALWAYS REVIEWED FEES SEMI-ANNUALLY WITH EACH CLIENT

OPPENHEIMER & CO.

Discharged

The Firm commenced an internal review of Mr. Likens regarding borrowing funds from a client. After Mr. Likens admitted he had borrowed money from a client and the Firm completed its internal review, his employment was suspended on July 29th and was terminated on August 3rd. Oppenheimer also had concerns regarding Mr. Likens' personal banking activities.

I RECEIVED AND REPAID A $10,00 LOAN FROM A CLIENT FOR MEDICAL AND RELOCATION EXPENSES RELATED TO MY SIGNIFICANT OTHER'S MOVE TO FLA FOR HEALTH REASONS.

UNAUTHORIZED AND UNSUITABLE TRANSACTIONS BEGINNING IN AUGUST 2011

$75,000.00

CLIENT ALLEGES THAT THE BROKER FAILED TO FOLLOW HIS INSTRUCTIONS TO LIQUIDATE AND TRANSFER HIS ACCOUNTS.

$8,587.00

THESE ALLEGATIONS ARE WITH OUT MERIT. CLIENT NEVER GAVE ME INSTRUCTIONS TO LIQUIDATE OR TRANSFER HIS ACCOUNTS AND AFTER INVESTIGATION, MY FIRM HAS DENIED THE COMPLAINT.