FINRA

ARTICLE V, SECTION 2(C) OF FINRA BY-LAWS, FINRA RULES 1122, 2010 AND 8210: JONES ASSISTED RETAIL BANKING CUSTOMERS, A HUSBAND AND WIFE, WITH THE PURCHASE OF A $50,000 FIXED ANNUITY AT THE BANK. AT JONES' DISCRETION, THE CUSTOMERS EACH SIGNED SEPARATE BLANK WITHDRAWAL TICKETS FOR THEIR JOINT BANK CHECKING ACCOUNT. JONES FILLED IN THE DATE, CUSTOMER NAME, AMOUNT, AND ACCOUNT NUMBER ON THE WITHDRAWAL SLIP SIGNED BY THE HUSBAND. JONES USED THAT SLIP TO PROCESS THE ANNUITY TRANSACTION. JONES ALSO FILLED IN THE DATE, CUSTOMER NAME, AND ACCOUNT NUMBER ON THE WITHDRAWAL SLIP SIGNED BY THE WIFE AND FILLED IN A WITHDRAWAL AMOUNT OF $1,000. THEREAFTER, JONES USED THAT SLIP TO WITHDRAW $1,000 IN CASH FROM THE CUSTOMERS' JOINT BANK ACCOUNT, WITHOUT THEIR KNOWLEDGE OR CONSENT. THE CUSTOMERS COMPLAINED TO THE BANK ABOUT THE UNAUTHORIZED WITHDRAWAL OF $1,000 FROM THEIR ACCOUNT AND THE BRANCH MANAGER INFORMED JONES THAT THE CUSTOMERS HAD COMPLAINED. JONES FILLED IN THE DATE, HUSBAND'S NAME (SPELLED INCORRECTLY), AMOUNT AND ACCOUNT NUMBER ON A DEPOSIT SLIP AND USED THAT SLIP TO DEPOSIT $1,000 INTO THE CUSTOMERS' BANK ACCOUNT. JONES WILLFULLY FAILED TO DISCLOSE MATERIAL INFORMATION ON HER FORM U4, AND TIMELY AMEND HER FORM U4 TO DISCLOSE MATERIAL INFORMATION. JONES FAILED TO APPEAR AND PROVIDE FINRA ON-THE-RECORD TESTIMONY.

Decision

Bar (Permanent)

All Capacities

Indefinite

5/6/2013

DEFAULT DECISION RENDERED ON APRIL 8, 2013 WHEREIN JONES IS BARRED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY FOR MISAPPROPRIATION OF FUNDS IN VIOLATION OF FINRA RULE 2010 AND FAILING TO APPEAR AND TESTIFY AT TWO ON-THE-RECORD INTERVIEWS, IN VIOLATION OF FINRA RULES 8210 AND 2010. IN LIGHT OF THE BARS, NO ADDITIONAL SANCTION IS IMPOSED FOR JONES' WILLFUL FILING OF A FALSE FORM U4, FAILURE TO UPDATE HER FORM U4, AND FILING FALSE FORM U4 AMENDMENTS. THE DECISION INCLUDES A FINDING THAT JONES WILLFUL FAILED TO DISCLOSE A MATERIAL FACT ON FORM U4, AND THAT UNDER SECTION 15B(4)(A) OF THE SECURITIES EXCHANGE ACT OF 1934 AND ARTICLE III, SECTION 4 OF FINRA BY-LAWS, THIS OMISSION MAKES HER SUBJECT TO A STATUTORY DISQUALIFICATION WITH RESPECT TO ASSOCIATION WITH A MEMBER. DECISION IS FINAL ON MAY 6, 2013.