FINRA

Without admitting or denying the findings, Lampman consented to the sanctions and to the entry of findings that he failed to obtain written authorization from customers to exercise discretion in their accounts. The findings stated that Lampman spoke to these customers in the first quarter of 2014 about liquidating positions held for at least 18 months in one fund family and purchasing positions in another fund family. Lampman, however, did not obtain his customers' permission to execute the transactions. Furthermore, the accounts for Lampman's customers were not approved as discretionary accounts by his member firm.

Acceptance, Waiver & Consent(AWC)

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

$5,000.00

Suspension

Any capacity

10 business days

8/1/2016

8/12/2016