Claimant alleges unauthorized and unsuitable transactions in energy and limited partnership as well as misrepresentation of account performance from 2012-2016.

$100,000.00

$27,500.00

Clients allege FA recommended unsuitable energy and mineral securities, in period 2012 to 1/2016.

$5,000.00

$250,000.00

FINRA

Without admitting or denying the findings, Simpson consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony as requested by FINRA in connection with FINRA's investigation of the conduct that gave rise to Simpson's termination from his member firm for violation of firm policy regarding use of discretion in client accounts.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

12/9/2016

Clients allege dating back to 2014, the customers portfolio was concentrated in the energy and metals sectors and was unsuitable for people of their age and risk tolerance.

$11,000,000.00

$175,000.00

Customers allege they have a low risk profile and were over concentrated in the oil sector, and that their portfolio was not adequately monitored since January 2015, resulting in investment losses. They also state they have found no signed document giving the representative permission to trade without consulting them first.

$448,000.00

$10,360.90

Customer alleges representative ignored her requests to reduce the exposure to the oil and gas sector in her portfolio. Time frame is May 2015 - January 2016.

$366,387.00

$7,700.80

Customers contend their portfolio was concentrated and not suitable for their investment objectives, and believe that the firm did not have written authorization on file for the representative to exercise discretionary trading authority. Time frame identified is last several years.

$11,042.25

Customers seek reimbursement of past 24 months in commissions paid after learning that their financial advisor was expected to obtain their authorization prior to placing trades in their accounts.

$20,285.78

$20,285.78

RBC Capital Markets, LLC

Discharged

Violation of firm policy regarding use of discretion in client accounts.

CLIENT ALLEGES BROKER FAILED TO FOLLOW INSTRUCTIONS. DAMAGES NOT SPECIFIED BUT BELIEVED TO BE IN EXCESS OF $5000

UBS PAINEWEBBER

Discharged

UBS PAINEWEBBER ALLEGED UNAUTHORIZED TRADING, VIOLATION OF THE FIRM'S SOLICITATION POLICY, AND MANAGEMENT'S LOSS OF CONFIDENCE IN ME.

MY FATHER AND PARTNER, HOWARD SIMPSON, WAS THE SUCCESSOR TRUSTEE ON AN ACCOUNT THAT HE SERVICED FOR APPROXIMATELY 40 YEARS. THE TRUSTEE DIED. UNDER THE AUTHORITY GRANTED AS THE NEW AND SOLE TRUSTEE, HOWARD SIMPSON, DIRECTED ME TO PLACE TWO TRADES. I FOLLOWED THE INSTRUCTIONS AS DIRECTED BY THE ONLY PERSON AUTHORIZED BY THE TRUST INSTRUMENT. UBS PAINEWEBBER CONTENDS THAT THESE TWO TRADES WERE UNAUTHORIZED BECAUSE THE LEGAL PAPERWORK HAD NOT BEEN PROCESSED.

SHOPLIFTING

PROBATION

COLLEGE PRANK