INTERNATIONAL ASSETS ADVISORY, LLC · Firm Profile This firm is classified as a limited liability...

BrokerCheck Report

INTERNATIONAL ASSETS ADVISORY, LLC

Section Title

Report Summary

Firm History

CRD# 10645

1

7

Firm Profile 2 - 6

Page(s)

Firm Operations 8 - 15

Disclosure Events 16

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INTERNATIONAL ASSETSADVISORY, LLC

CRD# 10645

SEC# 8-27736

Main Office Location

390 NORTH ORANGE AVENUESTE 750ORLANDO, FL 32801Regulated by FINRA Florida Office

Mailing Address

390 NORTH ORANGE AVENUESUITE 750ORLANDO, FL 32801

This firm is a brokerage firm and an investmentadviser firm. For more information aboutinvestment adviser firms, visit the SEC'sInvestment Adviser Public Disclosure website at:

Business Telephone Number

407-254-1500

https://www.adviserinfo.sec.gov

Report Summary for this Firm

This report summary provides an overview of the brokerage firm. Additional information for this firm can be foundin the detailed report.

Disclosure Events

Brokerage firms are required to disclose certaincriminal matters, regulatory actions, civil judicialproceedings and financial matters in which the firm orone of its control affiliates has been involved.

Are there events disclosed about this firm? Yes

The following types of disclosures have beenreported:

Type Count

Regulatory Event 7

Arbitration 1

Firm Profile

This firm is classified as a limited liability company.

This firm was formed in Florida on 07/26/2001.

Its fiscal year ends in December.

Firm History

Information relating to the brokerage firm's historysuch as other business names and successions(e.g., mergers, acquisitions) can be found in thedetailed report.

Firm Operations

Is this brokerage firm currently suspended with anyregulator? No

This firm conducts 19 types of businesses.

This firm is affiliated with financial or investmentinstitutions.

This firm has referral or financial arrangements withother brokers or dealers.

This firm is registered with:

• the SEC• 1 Self-Regulatory Organization• 52 U.S. states and territories

www.finra.org/brokercheck User Guidance

1©2020 FINRA. All rights reserved. Report about INTERNATIONAL ASSETS ADVISORY, LLC

https://adviserinfo.sec.gov/firm/summary/10645


http://www.finra.org/brokercheck

http://www.finra.org/brokercheck_reports


This firm is classified as a limited liability company.

This firm was formed in Florida on 07/26/2001.

CRD#

This section provides the brokerage firm's full legal name, "Doing Business As" name, business and mailingaddresses, telephone number, and any alternate name by which the firm conducts business and where such name isused.

Firm Profile

Firm Names and Locations

Its fiscal year ends in December.

INTERNATIONAL ASSETS ADVISORY, LLC

SEC#

10645

8-27736

Main Office Location

Mailing Address

Business Telephone Number

Doing business as INTERNATIONAL ASSETS ADVISORY, LLC

407-254-1500

Regulated by FINRA Florida Office

390 NORTH ORANGE AVENUESTE 750ORLANDO, FL 32801







This section provides information relating to all direct owners and executive officers of the brokerage firm.

Direct Owners and Executive Officers

Firm Profile

Position

Percentage of Ownership

Is this a public reportingcompany?

Position Start Date

Does this owner direct themanagement or policies ofthe firm?

PECUNIA MANAGEMENT, LLC

OWNER

75% or more

No

Domestic Entity

11/2006

Yes

Is this a domestic or foreignentity or an individual?

Legal Name & CRD# (if any):

Position



Position Start Date


COFRANCESCO, EDWARD RICHARD JR

CEO

Less than 5%

No

Individual

04/2008

Yes

2305035



Position


Position Start Date

LAMPMAN, MATTHEW EDWARD

EXECUTIVE VICE PRESIDENT/CHIEF OPERATING OFFICER

Less than 5%

Individual

01/2020

6132493








Direct Owners and Executive Officers (continued)

Firm Profile




Less than 5%

No

Yes

Position



Position Start Date


MOORE, ANN KATHERINE

CHIEF BUSINESS DEVELOPMENT OFFICER

Less than 5%

No

Individual

06/2014

Yes

5535928



Position



Position Start Date


NICHOLSON, MYRA PEARLE

CHIEF LEGAL OFFICER, CHIEF RISK OFFICER

Less than 5%

No

Individual

12/2017

No

2740029



WEINBERGER, DAVID S

2676116







Direct Owners and Executive Officers (continued)

Firm Profile

Position



Position Start Date


PRESIDENT/REGISTERED OPTIONS PRINCIPAL/ CHIEF FINANCIALOFFICER//FINOP

Less than 5%

No

Individual

01/2020

Yes

2676116


Position



Position Start Date


WEISS, RICHARD JAY

CHIEF COMPLIANCE OFFICER, CHIEF AML CCO

Less than 5%

No

Individual

01/2018

No

2523174








This section provides information relating to any indirect owners of the brokerage firm.

Indirect Owners

Firm Profile

COFRANCESCO ENTERPRISES, INC.

MEMBER

PECUNIA MANAGEMENT, LLC

50% but less than 75%

No

Domestic Entity

08/2011

Yes



Company through whichindirect ownership isestablished

Relationship to Direct Owner

Relationship Established









Firm History

This section provides information relating to any successions (e.g., mergers, acquisitions) involving the firm.

No information reported.






Firm Operations

RegistrationsThis section provides information about the regulators (Securities and Exchange Commission (SEC), self-regulatoryorganizations (SROs), and U.S. states and territories) with which the brokerage firm is currently registered andlicensed, the date the license became effective, and certain information about the firm's SEC registration.

This firm is currently registered with the SEC, 1 SRO and 52 U.S. states and territories.

SEC Registration Questions

This firm is registered with the SEC as:

A broker-dealer:

A broker-dealer and government securities broker or dealer:

A government securities broker or dealer only:

This firm has ceased activity as a government securities broker or dealer:

Yes

Yes

No

No

Federal Regulator Status Date Effective

SEC Approved 06/14/1982

Self-Regulatory Organization Status Date Effective

FINRA Approved 08/02/1982






Firm Operations

Registrations (continued)

U.S. States &Territories

Status Date Effective

Alabama Approved 05/27/1987

Alaska Approved 09/02/1988

Arizona Approved 06/10/1986

Arkansas Approved 10/07/1988

California Approved 11/27/2001

Colorado Approved 07/16/1984

Connecticut Approved 10/24/1986

Delaware Approved 12/13/1988

District of Columbia Approved 02/25/1989

Florida Approved 04/27/1983

Georgia Approved 03/05/1986

Hawaii Approved 06/03/1988

Idaho Approved 09/23/1986

Illinois Approved 08/15/1984

Indiana Approved 01/31/1986

Iowa Approved 05/02/1986

Kansas Approved 03/17/1987

Kentucky Approved 02/19/1986

Louisiana Approved 03/22/1988

Maine Approved 11/06/1986

Maryland Approved 02/06/1986

Massachusetts Approved 07/15/1985

Michigan Approved 10/09/1985

Minnesota Approved 05/12/1987

Mississippi Approved 04/06/1988

Missouri Approved 11/03/1986

Montana Approved 02/03/1987

Nebraska Approved 10/16/1987

Nevada Approved 12/04/1986

New Hampshire Approved 03/22/1989

New Jersey Approved 07/18/1984

New Mexico Approved 07/15/1987

New York Approved 05/17/1984

U.S. States &Territories

Status Date Effective

North Carolina Approved 04/11/1986

North Dakota Approved 07/14/2010

Ohio Approved 07/11/1984

Oklahoma Approved 09/20/1985

Oregon Approved 05/03/1985

Pennsylvania Approved 01/08/1985

Puerto Rico Approved 02/16/2011

Rhode Island Approved 04/27/1987

South Carolina Approved 07/09/1985

South Dakota Approved 05/03/1996

Tennessee Approved 03/07/1986

Texas Approved 06/27/1984

Utah Approved 04/29/1987

Vermont Approved 12/16/1988

Virginia Approved 01/14/1987

Washington Approved 10/22/1984

West Virginia Approved 09/26/1988

Wisconsin Approved 08/04/1987

Wyoming Approved 10/17/1991






Firm Operations

Types of BusinessThis section provides the types of business, including non-securities business, the brokerage firm is engaged in orexpects to be engaged in.

Other Types of Business

This firm does effect transactions in commodities, commodity futures, or commodity options.This firm does not engage in other non-securities business.

Non-Securities Business Description:

This firm currently conducts 19 types of businesses.

Types of Business

Broker or dealer retailing corporate equity securities over-the-counter

Broker or dealer selling corporate debt securities

Underwriter or selling group participant (corporate securities other than mutual funds)

Mutual fund underwriter or sponsor

Mutual fund retailer

U S. government securities dealer

U S. government securities broker

Municipal securities dealer

Municipal securities broker

Broker or dealer selling variable life insurance or annuities

Solicitor of time deposits in a financial institution

Broker or dealer selling oil and gas interests

Put and call broker or dealer or option writer

Broker or dealer selling tax shelters or limited partnerships in primary distributions

Broker or dealer selling tax shelters or limited partnerships in the secondary market

Non-exchange member arranging for transactions in listed securities by exchange member

Trading securities for own account

Private placements of securities

Broker or dealer involved in a networking, kiosk or similar arrangment with a: bank, savings bank or association, orcredit union






Firm Operations

Clearing Arrangements

This firm does not hold or maintain funds or securities or provide clearing services for other broker-dealer(s).

Introducing Arrangements

This firm does refer or introduce customers to other brokers and dealers.

Name: RBC CAPITAL MARKETS, LLC

Business Address: 3 WORLD FINANCIAL CENTERNEW YORK, NY 10281

CRD #: 31194

Effective Date: 04/20/2018

Description: APPLICANT IS A FULLY DISCLOSED INTRODUCING BROKER DEALER TOITS CLEARING FIRM






Firm Operations

Industry Arrangements

This firm does have books or records maintained by a third party.

This firm does have accounts, funds, or securities maintained by a third party.

This firm does have customer accounts, funds, or securities maintained by a third party.

This firm does not have individuals who control its management or policies through agreement.

This firm does not have individuals who wholly or partly finance the firm's business.

Control Persons/Financing



CRD #: 31194


Description: RBC CAPITAL MARKETS, LLC MAINTAINS SOME BOOKS AND RECORDSOF THE APPLICANT RELATING TO THE CLEARING OF TRANSACTIONSAND CUSTODY



CRD #: 31194


Description: RBC CAPITAL MARKETS, LLC MAINTAINS CUSTODY OF APPLICANTSFUNDS AND SECURITIES



CRD #: 31194


Description: RBC CAPITAL MARKETS, LLC MAINTAINS CUSTODY OF ALL CLIENTFUNDS AND SECURITIES.






Firm Operations

Organization AffiliatesThis section provides information on control relationships the firm has with other firms in the securities, investmentadvisory, or banking business.

This firm is, directly or indirectly:

· in control of· controlled by· or under common control withthe following partnerships, corporations, or other organizations engaged in the securities or investmentadvisory business.

No

Yes

No

01/20/2020

390 N. ORANGE AVENUESUITE 750ORLANDO, FL 32801

307060

PRIMUS FINANCIAL SERVICES, LLC is under common control with the firm.

INTERNATIONAL ASSETS ADVISORY AND PRIMUS FINANCIAL SERVICESARE WHOLLY OWNED BY PECUNIA MANAGEMENT, LLC

Description:

Investment AdvisoryActivities:

Securities Activities:

Country:

Foreign Entity:

Effective Date:

Business Address:

CRD #:

Yes

No

No

04/05/2019


300460

GLOBAL ASSETS ADVISORY, LLC is under common control with the firm.

BOTH INTERNATIONAL ASSETS ADVISORY, LLC AND INTERNATIONALASSETS INVESTMENT MANAGEMENT, LLC ARE WHOLLY OWNED BYPECUNIA MANAGEMENT, LLC.

Description:



Country:

Foreign Entity:

Effective Date:

Business Address:

CRD #:






Firm Operations

Organization Affiliates (continued)


Description:

Yes

No

No

06/13/2016

390 N. ORANGE AVENUESUITE 750ORLANDO, FL 32801

284663

TACTICAL INVESTMENT STRATEGIES LLC is under common control with the firm.

EDWARD COFRANCESCO IS THE OWNER OF PECUNIA MANAGEMENT, LLCA HOLDING COMPANY WHICH HOLDS HIS INTEREST IN INTERNATIONALASSETS ADVISORY, LLC. EDWARD COFRANCESCO IS A 33% OWNER OFTACTICAL INVESTMENT STRATEGIES, LLC.

Description:



Country:

Foreign Entity:

Effective Date:

Business Address:

CRD #:

Yes

Yes

No

07/05/2007

390 NORTH ORANGE AVE.SUITE 750ORLANDO, FL 32801

144426

INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC is under common control with the firm.


Description:



Country:

Foreign Entity:

Effective Date:

Business Address:

CRD #:






Firm Operations

Organization Affiliates (continued)

This firm is not directly or indirectly, controlled by the following:

· bank holding company· national bank· state member bank of the Federal Reserve System· state non-member bank· savings bank or association· credit union· or foreign bank






Disclosure Events

All firms registered to sell securities or provide investment advice are required to disclose regulatory actions, criminal orcivil judicial proceedings, and certain financial matters in which the firm or one of its control affiliates has been involved.For your convenience, below is a matrix of the number and status of disclosure events involving this brokerage firm orone of its control affiliates. Further information regarding these events can be found in the subsequent pages of thisreport.

Final On AppealPending

Regulatory Event 0 7 0

Arbitration N/A 1 N/A






Disclosure Event Details

What you should know about reported disclosure events:

1. BrokerCheck provides details for any disclosure event that was reported in CRD. It also includessummary information regarding FINRA arbitration awards in cases where the brokerage firm wasnamed as a respondent.

2. Certain thresholds must be met before an event is reported to CRD, for example: o A law enforcement agency must file formal charges before a brokerage firm is required to disclose a

particular criminal event.3. Disclosure events in BrokerCheck reports come from different sources:

o Disclosure events for this brokerage firm were reported by the firm and/or regulators. When the firmand a regulator report information for the same event, both versions of the event will appear in theBrokerCheck report. The different versions will be separated by a solid line with the reporting sourcelabeled.

4. There are different statuses and dispositions for disclosure events: o A disclosure event may have a status of pending, on appeal, or final.

§ A "pending" event involves allegations that have not been proven or formally adjudicated.§ An event that is "on appeal" involves allegations that have been adjudicated but are currently

being appealed.§ A "final" event has been concluded and its resolution is not subject to change.

o A final event generally has a disposition of adjudicated, settled or otherwise resolved.§ An "adjudicated" matter includes a disposition by (1) a court of law in a criminal or civil matter,

or (2) an administrative panel in an action brought by a regulator that is contested by the partycharged with some alleged wrongdoing.

§ A "settled" matter generally involves an agreement by the parties to resolve the matter.Please note that firms may choose to settle customer disputes or regulatory matters forbusiness or other reasons.

§ A "resolved" matter usually involves no payment to the customer and no finding ofwrongdoing on the part of the individual broker. Such matters generally involve customerdisputes.

5. You may wish to contact the brokerage firm to obtain further information regarding any of thedisclosure events contained in this BrokerCheck report.

Regulatory - Final

This type of disclosure event involves (1) a final, formal proceeding initiated by a regulatory authority (e.g., a statesecurities agency, self-regulatory organization, federal regulator such as the U.S. Securities and Exchange Commission,foreign financial regulatory body) for a violation of investment-related rules or regulations; or (2) a revocation orsuspension of the authority of a brokerage firm or its control affiliate to act as an attorney, accountant or federalcontractor.

Disclosure 1 of 7

Reporting Source: Regulator

Allegations: WITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTEDTO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT IT FAILED TOESTABLISH, MAINTAIN, AND ENFORCE A SUPERVISORY SYSTEM,INCLUDING WSPS, REASONABLY DESIGNED TO ENSURE COMPLIANCEWITH FINRA RULE 2111 IN RELATION TO THE SALE OF NON-TRADITIONALEXCHANGE TRADED PRODUCTS (NT-ETPS). THE FINDINGS STATED THATTHE FIRM'S SUPERVISORY SYSTEM AND WSPS AND WERE NOTREASONABLY TAILORED TO ADDRESS THE UNIQUE FEATURES AND RISKSASSOCIATED WITH NT-ETPS, INCLUDING THE RISKS ASSOCIATED WITHHOLDING NT-ETPS FOR EXTENDED PERIODS OF TIME. THE FIRM ALSO DIDNOT HAVE ANY SYSTEMS IN PLACE, SUCH AS AN ALERT OR EXCEPTIONREPORT, TO ASSIST SUPERVISORS IN MONITORING THE HOLDINGPERIODS FOR NT-ETPS. MOREOVER, THE FIRM FAILED TO ENFORCE THEWSPS IT HAD IN PLACE. ALTHOUGH THE FIRM'S WSPS REQUIREDTRAINING FOR ALL REGISTERED REPRESENTATIVES SELLING NT-ETPS, ITFAILED TO PROVIDE FORMAL TRAINING TO REPRESENTATIVES BEFOREPERMITTING THEM TO SELL THE PRODUCTS TO CUSTOMERS. AS ARESULT OF ITS UNREASONABLE SUPERVISORY SYSTEM ANDPROCEDURES, THE FIRM FAILED TO DETECT A REPRESENTATIVE'SUNSUITABLE RECOMMENDATIONS OF NT-ETPS TO FIVE OF HISCUSTOMERS TO PURCHASE AND HOLD SOLICITED NT-ETPS POSITIONSFOR AN AVERAGE OF 327 DAYS. THE REPRESENTATIVE DID NOTUNDERSTAND THE UNIQUE FEATURES AND SPECIFIC RISKS ASSOCIATEDWITH THESE PRODUCTS, INCLUDING THE RISK OF HOLDING THEPRODUCTS LONG-TERM, AND, THEREFORE, LACKED A REASONABLEBASIS FOR MAKING THE RECOMMENDATIONS. THE REPRESENTATIVE'SCUSTOMERS INCURRED APPROXIMATELY $92,805.13 IN LOSSES AS ARESULT OF HIS UNSUITABLE RECOMMENDATIONS.

Current Status: Final






Initiated By: FINRA

Principal Sanction(s)/ReliefSought:

Other Sanction(s)/ReliefSought:

Date Initiated: 12/03/2019

Docket/Case Number: 2017056579501

Principal Product Type: Other

Other Product Type(s): NON-TRADITIONAL EXCHANGE TRADED PRODUCTS

Allegations: WITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTEDTO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT IT FAILED TOESTABLISH, MAINTAIN, AND ENFORCE A SUPERVISORY SYSTEM,INCLUDING WSPS, REASONABLY DESIGNED TO ENSURE COMPLIANCEWITH FINRA RULE 2111 IN RELATION TO THE SALE OF NON-TRADITIONALEXCHANGE TRADED PRODUCTS (NT-ETPS). THE FINDINGS STATED THATTHE FIRM'S SUPERVISORY SYSTEM AND WSPS AND WERE NOTREASONABLY TAILORED TO ADDRESS THE UNIQUE FEATURES AND RISKSASSOCIATED WITH NT-ETPS, INCLUDING THE RISKS ASSOCIATED WITHHOLDING NT-ETPS FOR EXTENDED PERIODS OF TIME. THE FIRM ALSO DIDNOT HAVE ANY SYSTEMS IN PLACE, SUCH AS AN ALERT OR EXCEPTIONREPORT, TO ASSIST SUPERVISORS IN MONITORING THE HOLDINGPERIODS FOR NT-ETPS. MOREOVER, THE FIRM FAILED TO ENFORCE THEWSPS IT HAD IN PLACE. ALTHOUGH THE FIRM'S WSPS REQUIREDTRAINING FOR ALL REGISTERED REPRESENTATIVES SELLING NT-ETPS, ITFAILED TO PROVIDE FORMAL TRAINING TO REPRESENTATIVES BEFOREPERMITTING THEM TO SELL THE PRODUCTS TO CUSTOMERS. AS ARESULT OF ITS UNREASONABLE SUPERVISORY SYSTEM ANDPROCEDURES, THE FIRM FAILED TO DETECT A REPRESENTATIVE'SUNSUITABLE RECOMMENDATIONS OF NT-ETPS TO FIVE OF HISCUSTOMERS TO PURCHASE AND HOLD SOLICITED NT-ETPS POSITIONSFOR AN AVERAGE OF 327 DAYS. THE REPRESENTATIVE DID NOTUNDERSTAND THE UNIQUE FEATURES AND SPECIFIC RISKS ASSOCIATEDWITH THESE PRODUCTS, INCLUDING THE RISK OF HOLDING THEPRODUCTS LONG-TERM, AND, THEREFORE, LACKED A REASONABLEBASIS FOR MAKING THE RECOMMENDATIONS. THE REPRESENTATIVE'SCUSTOMERS INCURRED APPROXIMATELY $92,805.13 IN LOSSES AS ARESULT OF HIS UNSUITABLE RECOMMENDATIONS.

Resolution Date: 12/03/2019

Resolution:

Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?

No

Acceptance, Waiver & Consent(AWC)





https://www.finra.org/rules-guidance/oversight-enforcement/finra-disciplinary-actions?search=2017056579501


Other Sanctions Ordered:

Sanction Details: THE FIRM WAS CENSURED, FINED $30,000 AND ORDERED TO PAY$92,805.13, PLUS INTEREST, IN RESTITUTION TO CUSTOMERS.

Regulator Statement FINES PAID IN FULL ON DECEMBER 13, 2019.

Does the order constitute afinal order based onviolations of any laws orregulations that prohibitfraudulent, manipulative, ordeceptive conduct?

No

Sanctions Ordered: CensureMonetary/Fine $30,000.00Disgorgement/Restitution

iReporting Source: Firm

Initiated By: FINRA


Censure


$30,000 FINE AND RESTITUTION IN THE AMOUNT OF $92,805.13 PLUSINTEREST




Other Product Type(s): NON-TRADITIONAL EXCHANGE TRADED PRODUCTS ("NT-ETPS")

Allegations: IAA FAILED TO ESTABLISH, MAINTAIN, AND ENFORCE A REASONABLYDESIGNED SUPERVISORY SYSTEM AND WSPS REGARDING NT-ETPS



Resolution:


Sanction Details: $30,000 FINE PAID BY FIRM 12/03/2019 AND RESTITUTION IN THE AMOUNTOF $92,805.13 PLUS INTEREST

Sanctions Ordered: CensureMonetary/Fine $30,000.00Disgorgement/Restitution






https://www.finra.org/rules-guidance/oversight-enforcement/finra-disciplinary-actions?search=2017056579501


Sanction Details: $30,000 FINE PAID BY FIRM 12/03/2019 AND RESTITUTION IN THE AMOUNTOF $92,805.13 PLUS INTEREST

Disclosure 2 of 7

i


Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.




Docket/Case Number: CMS000246

Principal Product Type: Equity - OTC

Other Product Type(s):

Allegations: 01/04/01GS: NASD RULES 2110, 4632, AND 6620 - FAILED, WITHIN 90SECONDS AFTER EXECUTION, TO TRANSMIT THROUGH AUTOMATEDCONFIRMATION TRANSACTION SERVICE, LAST SALE REPORTS OFTRANSACTIONS IN NASDAQ NATIONAL MARKET (NNM), OTC EQUITYSECURITIES, AND FAILED TO DESIGNATE THROUGH ACT SUCH LAST SALEREPORTS AS LATE; AND, FAILED TO DESIGNATE AS "T" THROUGH ACT 23LAST SALE REPORTS OF TRANSACTIONS IN OTC EQUITY SECURITIESEXECUTED OUTSIDE NORMAL MARKET HOURS.



Resolution:


Sanction Details: 03-23-01, $10,000 PAID 1/04/01

Sanctions Ordered: CensureMonetary/Fine $10,000.00



Allegations: FAILURE TO TRANSMIT EXECUTION REPORTS THROUGH ACT WITHIN 90SECONDS AFTER EXECUTION AND, IN SOME INSTANCES, FAILURE TOMARK THE REPORTS AS LATE.







Initiated By: NASD REGULATION, INC.


Censure


FINE OF $10,000



Principal Product Type: No Product


FAILURE TO TRANSMIT EXECUTION REPORTS THROUGH ACT WITHIN 90SECONDS AFTER EXECUTION AND, IN SOME INSTANCES, FAILURE TOMARK THE REPORTS AS LATE.


Resolution:


Sanction Details: $10000.00 FINE PAID ON JANUARY 3, 2001.



Disclosure 3 of 7

i


Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS




Principal Product Type: Equity - OTC


Allegations: 06/16/00GS: NASD RULES 6620 - ENGAGED IN A PATTERN OR PRACTICE OFLATE TRANSACTION REPORTING WITHOUT EXCEPTIONALCIRCUMSTANCES BY FAILING TO REPORT WITHIN 90 SECONDS AFTEREXECUTION TRANSACTIONS IN ACT -ELIGIBLE SECURITIES TO ACT; AND,FAILED TO TRANSMIT THROUG ACT WITHIN 90 SECONDS AFTEREXECUTION LAST SALE REPORTS OF 155 TRANSACTIONS IN OTC EQUITYSECURITIES, AND FAILED TO DESIGNATE EACH SUCH TRANSACTION ASLATE TO ACT.










Resolution:


Sanction Details: 11-01-00, $5,000 PREPAID

Sanctions Ordered: Monetary/Fine $5,000.00





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



Docket/Case Number: CMS000084 AWC



Allegations: REPORTING VIOLATIONS TO THE AUTOMATED CONFIRMATIONTRANSACTION SERVICE



Resolution:


Sanction Details: FINE OF $5,000.00 PAID 5/25/00.

Sanctions Ordered: Monetary/Fine $5,000.00


Disclosure 4 of 7

i














Allegations: 01-05-00, NASD RULES 2110,3010,4632, AND 6620 - RESPONDENT MEMBERFAILED TO DESIGNATE AS LATE TO ACT TRANSACTIONS IN NASDAQNATIONAL MARKET SECURITIES AND OTC EQUITY SECURITIES,DEMONSTRATING A PATTERN AND PRACTICE OF LATE REPORTING; ANDFAILED TO ESTABLISH, MAINTAIN, AND ENFORCE WRITTEN SUPERVISORYPROCEDURES REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITHAPPLICABLE RULES RELATING TO TRADE REPORTING.



Resolution:


Sanction Details: CENSURED AND FINED $7,500 *** 04/11/2000GS: $7,500 PAID ON 12/17/99(INVOICE NO. NOT AVAILABLE).

Regulator Statement NONE







Allegations: REPORTING VIOLATIONS TO THE AUTOMATED CONFIRMATIONTRANSACTION SRVICE ("ACT").










CENSURE




Resolution:


Sanction Details: FINE OF $7500.00 PAID DECEMBER 3, 1999.



Disclosure 5 of 7

i


Initiated By: ILLINOIS SECURITIES DEPARTMENT





URL for Regulatory Action:

Principal Product Type:


Allegations: RESPONDENTS INTERNATIONAL ASSETS ADVISORYCORP. AND NANCEY M. MCMURTRY FILED A DEFICIENT AND MATERIALLYFALSE RESPONSE TO A REQUEST FOR INFORMATION.



Resolution:


Consent







Sanction Details: CONSENT ORDER OF CENSURE AND FINE. RESPONDENT ISHEREBY CENSURED AND FINED $2,000.00.

Regulator Statement CONTACT: 217-785-4940



Initiated By: STATE OF ILLINOIS




CENSURED





Allegations: APPLICANT FAILED TO FULLY RESPOND TO CERTAIN ADMINISTRATIVEREQUESTS.



Resolution:


Sanction Details: ADMINISTRATIVE FINE PAID AUGUST, 1994

Firm Statement APPLICANT INADVERTENTLY FAILED TO PROVIDE CERTAIN INFORMATIONREQUESTED BY THE STATE.


Consent

Disclosure 6 of 7

i


Allegations:











Docket/Case Number: C07910137



Allegations:


Resolution:


Sanction Details:

Regulator Statement COMPLAINT NO. C07910137 FILED DECEMBER 31, 1991 BY DISTRICT NO.7 AGAINST RESPONDENTS INTERNATIONAL ASSETS ADVISORY CORP.,DIEGO JULIO VEITIA AND NANCEY MEADOR MCMURTRY ALLEGINGVIOLATIONS OF ARTICLE III, SECTIONS 1, 21(a) AND 35 OF THERULES OF FAIR PRACTICE AND MSRB RULE G-21 IN THAT RESPONDENTMEMBER, ACTING THROUGH RESPONDENT VEITIA, SENT VARIOUS SALESLITERATURE TO THE PUBLIC WHICH OMITTED MATERIAL INFORMATION,AND CONTAINED EXAGGERATED, UNWARRANTED AND/OR MISLEADINGSTATEMENTS WITH RESPECT TO THE SECURITIES OFFERED; FAILED TOFILE A NEWSLETTER WITH THE NASD WITHIN 10 DAYS OF ITS USE; HELDCUSTOMER FUNDS IN ITS SPECIAL ACCOUNT FOR THE EXCLUSIVEBENEFITOF CUSTOMERS BEYOND THE ALLOWED TIME PERIOD AFTER RECEIPT;FAILED TO DEPOSIT CUSTOMER FUNDS INTO ITS DEPOSIT ONLYACCOUNT;FAILED TO PROPERLY MAINTAIN CERTAIN BOOKS AND RECORDSRELATINGTO THE RESPONDENT MEMBER'S SPECIAL ACCOUNT FOR THE EXCLUSIVEBENEFIT OF CUSTOMERS; AND, RESPONDENT MEMBER, ACTINGTHROUGHRESPONDENT MCMURTRY, EMPLOYED TWO NON-REGISTERED PERSONSINCAPACITIES THAT REQUIRED REGISTRATION WITH THE NASD.

DECISION RENDERED JUNE 10, 1992, WHEREIN THE OFFER OFSETTLEMENT SUBMITTED BY THE RESPONDENTS WAS ACCEPTED;THEREFORE, RESPONDENTS MEMBER AND VEITIA ARE CENSURED ANDFINED$8,000, JOINTLY AND SEVERALLY; RESPONDENTS MEMBER ANDMCMURTRYARE CENSURED AND FINED $7,500, JOINTLY AND SEVERALLY; AND,RESPONDENT MEMBER IS REQUIRED TO FILE WITH THE NASD ALL OF ITSADVERTISEMENTS AND SALES LITERATURE CONCURRENTLY WITH USEFOR APERIOD OF SIX MONTHS FROM THE EFFECTIVE DATE OF THIS DECISION. **$7,500.00 J&S2 PAID ON 7/1/92 INVOICE #92-07-603** **$8,000.00 J&S1 PAID ON 7/1/92 INVOICE #92-07-603**


Consent






COMPLAINT NO. C07910137 FILED DECEMBER 31, 1991 BY DISTRICT NO.7 AGAINST RESPONDENTS INTERNATIONAL ASSETS ADVISORY CORP.,DIEGO JULIO VEITIA AND NANCEY MEADOR MCMURTRY ALLEGINGVIOLATIONS OF ARTICLE III, SECTIONS 1, 21(a) AND 35 OF THERULES OF FAIR PRACTICE AND MSRB RULE G-21 IN THAT RESPONDENTMEMBER, ACTING THROUGH RESPONDENT VEITIA, SENT VARIOUS SALESLITERATURE TO THE PUBLIC WHICH OMITTED MATERIAL INFORMATION,AND CONTAINED EXAGGERATED, UNWARRANTED AND/OR MISLEADINGSTATEMENTS WITH RESPECT TO THE SECURITIES OFFERED; FAILED TOFILE A NEWSLETTER WITH THE NASD WITHIN 10 DAYS OF ITS USE; HELDCUSTOMER FUNDS IN ITS SPECIAL ACCOUNT FOR THE EXCLUSIVEBENEFITOF CUSTOMERS BEYOND THE ALLOWED TIME PERIOD AFTER RECEIPT;FAILED TO DEPOSIT CUSTOMER FUNDS INTO ITS DEPOSIT ONLYACCOUNT;FAILED TO PROPERLY MAINTAIN CERTAIN BOOKS AND RECORDSRELATINGTO THE RESPONDENT MEMBER'S SPECIAL ACCOUNT FOR THE EXCLUSIVEBENEFIT OF CUSTOMERS; AND, RESPONDENT MEMBER, ACTINGTHROUGHRESPONDENT MCMURTRY, EMPLOYED TWO NON-REGISTERED PERSONSINCAPACITIES THAT REQUIRED REGISTRATION WITH THE NASD.

DECISION RENDERED JUNE 10, 1992, WHEREIN THE OFFER OFSETTLEMENT SUBMITTED BY THE RESPONDENTS WAS ACCEPTED;THEREFORE, RESPONDENTS MEMBER AND VEITIA ARE CENSURED ANDFINED$8,000, JOINTLY AND SEVERALLY; RESPONDENTS MEMBER ANDMCMURTRYARE CENSURED AND FINED $7,500, JOINTLY AND SEVERALLY; AND,RESPONDENT MEMBER IS REQUIRED TO FILE WITH THE NASD ALL OF ITSADVERTISEMENTS AND SALES LITERATURE CONCURRENTLY WITH USEFOR APERIOD OF SIX MONTHS FROM THE EFFECTIVE DATE OF THIS DECISION. **$7,500.00 J&S2 PAID ON 7/1/92 INVOICE #92-07-603** **$8,000.00 J&S1 PAID ON 7/1/92 INVOICE #92-07-603**




Censure


JOINT AND SEVERAL FINE BETWEEN RESPONDENTS.RESPONDENT INTERNATIONAL ASSETS HAD TO FILE WITH THEASSOCIATION ALL ADVERTISEMENTS AND SALES LITERATURE FOR SIXMONTHS.


Docket/Case Number: CO7910137



Allegations: CONTENT OF SALES LITERATURE VIOLATED ARTICLE III, SECTIONS 1 AND35, FAILURE TO FILE ONE PIECE OF SALES LITERATURE, FAILURE TOREGISTER ADMINISTRATIVE PERSONNEL, IMPROPER HANDLING OFCUSTOMER FUNDS AND BOOKS AND RECORDS VIOLATIONS.



Resolution:

Other Sanctions Ordered: FILING OF SALES LITERATURE FOR SIX MONTHS WITH ASSOCIATION.


Decision & Order of Offer of Settlement






Other Sanctions Ordered: FILING OF SALES LITERATURE FOR SIX MONTHS WITH ASSOCIATION.

Sanction Details: TOTAL JOINT AND SEVERAL FINE AGAINST APPLICANT WAS $15,500. PAIDJUNE, 1992.

Disclosure 7 of 7

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Docket/Case Number: ATL-936



Allegations:



Resolution:


Sanction Details:

Regulator Statement COMPLAINT NO. ATL-936 FILED OCTOBER 30, 1987 BY DISTRICT NO. 7AGAINST RESPONDENTS INTERNATIONAL ASSETS ADVISORY CORP. ANDMARKMISSLER ALLEGING VIOLATIONS OF ARTICLE III, SECTIONS 1 AND 4 OFTHE RULES OF FAIR PRACTICE IN THAT RESPONDENT MEMBER, ACTINGTHROUGH RESPONDENT MISSLER, EFFECTED AS PRINCIPAL FOR ITSOWNACCOUNT OVER-THE-COUNTER SALES OF CORPORATE SECURITIES TOPUBLICCUSTOMERS AT PRICES WHICH WERE NOT FAIR. ************** DECISIONRENDERED JUNE 14, 1988, WHEREIN THE OFFER OF SETTLEMENTSUBMITTED BY THE RESPONDENTS WAS ACCEPTED; THEREFORE, THEYARECENSURED AND FINED $2,000.00, JOINTLY AND SEVERALLY. ********$2,000 PAID J&S 7-11-88.


Consent






COMPLAINT NO. ATL-936 FILED OCTOBER 30, 1987 BY DISTRICT NO. 7AGAINST RESPONDENTS INTERNATIONAL ASSETS ADVISORY CORP. ANDMARKMISSLER ALLEGING VIOLATIONS OF ARTICLE III, SECTIONS 1 AND 4 OFTHE RULES OF FAIR PRACTICE IN THAT RESPONDENT MEMBER, ACTINGTHROUGH RESPONDENT MISSLER, EFFECTED AS PRINCIPAL FOR ITSOWNACCOUNT OVER-THE-COUNTER SALES OF CORPORATE SECURITIES TOPUBLICCUSTOMERS AT PRICES WHICH WERE NOT FAIR. ************** DECISIONRENDERED JUNE 14, 1988, WHEREIN THE OFFER OF SETTLEMENTSUBMITTED BY THE RESPONDENTS WAS ACCEPTED; THEREFORE, THEYARECENSURED AND FINED $2,000.00, JOINTLY AND SEVERALLY. ********$2,000 PAID J&S 7-11-88.


Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS


Censure


FINE


Docket/Case Number: ATL-936



Allegations: EFFECTED AS PRINCIPAL FOR ITS OWN ACCOUNT OVER-THE-COUNTERSALES OF CORPORATE SECURITIES TO PUBLIC CUSTOMERS AT PRICESWHICH WERE NOT FAIR.



Resolution:


Sanction Details: $2,000 FINE PAID 7/11/88


Settled






Arbitration Award - Award / Judgment

Brokerage firms are not required to report arbitration claims filed against them by customers; however, BrokerCheckprovides summary information regarding FINRA arbitration awards involving securities and commodities disputesbetween public customers and registered securities firms in this section of the report. The full text of arbitration awards issued by FINRA is available at www.finra.org/awardsonline.

Disclosure 1 of 1


Type of Event: ARBITRATION

Arbitration Forum:

Case Initiated:

Case Number:

Allegations:

Disputed Product Type:

Sum of All Relief Requested:

Disposition:

Disposition Date:

Sum of All Relief Awarded:

NASD

02/06/1997

96-05712

ACCOUNT ACTIVITY-BRCH OF FIDUCIARY DT; ACCOUNT ACTIVITY-OTHER;ACCOUNT ACTIVITY-UNAUTHORIZED TRADING; ACCOUNT RELATED-NEGLIGENCE

COMMON STOCK; DO NOT USE-NO OTHER TYPE OF SEC INVOLVE; LIMITEDPARTNERSHIPS; OTHER TYPES OF SECURITIES

$3,000,000.00

AWARD AGAINST PARTY

01/13/1998

$199,844.70

There may be a non-monetary award associated with this arbitration.Please select the Case Number above to view more detailed information.





www.finra.org/awardsonline

https://www.finra.org/arbitration-mediation/arbitration-awards-online?search=96-05712


End of Report

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