UNITED STATES SECURITIES AND EXCHANGE COMMISSION

SEC Admin Release 34-86641, IA Release 5320 / August 13, 2019: The Securities and Exchange Commission deems it appropriate and in the public interest that public administrative proceedings be instituted against Michael J. Frew ("Respondent"). On the basis of this Order and Respondent's Offer, the Commission finds that on February 2, 2019, Frew pled guilty to, inter alia, one count of mail fraud in violation of Title 18, U.S. Code, Section 1341 and two counts of wire fraud in violation of Title 18, U.S. Code, Section 1343, before the U.S. District Court for the Northern District of California, in United States v. Michael James Frew, Case No. 18-cr-00340-VC-1.

Order

Bar (Permanent)

any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or NRSRO

indefinite

8/13/2019

participating in any offering of a penny stock

indefinite

8/13/2019

wire fraud in violation of Title 18, U.S. Code, Section 1343,

Convicted

mail fraud in violation of Title 18, U.S. Code, Section 1341

Convicted

CALIFORNIA DEPARTMENT OF BUSINESS OVERSIGHT

FREW FAILED TO COOPERATE WITH FINRA INVESTIGATION OF CLAIMS THAT FREW SOLD PROMISSORY NOTES HE ISSUED AWAY FROM HIS EMPLOYMENT AT WELLS FARGO WHICH DEFAULTED. HE WAS BARRED BY FINRA FROM ASSOCIATION WITH FINRA MEMBERS BY CONSENT AND WAIVER. THIS BAR BY FINRA IS GROUNDS FOR BAR FROM ENTIRE SECURITIES INDUSTRY IN CALIFORNIA UNDER CALIFORNIA SECURITIES LAW.

CONSENT ORDER

Bar (Permanent)

FROM EMPLOYMENT IN SECURITIES INDUSTRY IN CALIFORNIA BY IA OR BD

PERMANENT

8/13/2014

FINRA

WITHOUT ADMITTING OR DENYING THE FINDINGS, FREW CONSENTED TO THE SANCTION AND TO THE ENTRY OF FINDINGS THAT HE DID NOT PROVIDE A COMPLETE AND TRUTHFUL RESPONSE TO FINRA'S REQUEST SEEKING INFORMATION AND DOCUMENTS. THE FINDINGS STATED THAT FINRA WAS INVESTIGATING WHETHER FREW HAD ACCEPTED LOANS FROM CUSTOMERS OR CONVERTED CUSTOMER FUNDS. FOLLOWING MULTIPLE REQUEST, FREW INFORMED FINRA THAT HE WOULD NOT PROVIDE ANY ADDITIONAL RESPONSE, AND WOULD NOT APPEAR FOR TESTIMONY AT ANY TIME.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

5/28/2014