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
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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
390 NORTH ORANGE AVENUESUITE 750ORLANDO, FL 32801
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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
Percentage of Ownership
Is this a public reportingcompany?
Position Start Date
Does this owner direct themanagement or policies ofthe firm?
COFRANCESCO, EDWARD RICHARD JR
CEO
Less than 5%
No
Individual
04/2008
Yes
2305035
Is this a domestic or foreignentity or an individual?
Legal Name & CRD# (if any):
Position
Percentage of Ownership
Position Start Date
LAMPMAN, MATTHEW EDWARD
EXECUTIVE VICE PRESIDENT/CHIEF OPERATING OFFICER
Less than 5%
Individual
01/2020
6132493
Is this a domestic or foreignentity or an individual?
Legal Name & CRD# (if any):
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Direct Owners and Executive Officers (continued)
Firm Profile
Percentage of Ownership
Is this a public reportingcompany?
Does this owner direct themanagement or policies ofthe firm?
Less than 5%
No
Yes
Position
Percentage of Ownership
Is this a public reportingcompany?
Position Start Date
Does this owner direct themanagement or policies ofthe firm?
MOORE, ANN KATHERINE
CHIEF BUSINESS DEVELOPMENT OFFICER
Less than 5%
No
Individual
06/2014
Yes
5535928
Is this a domestic or foreignentity or an individual?
Legal Name & CRD# (if any):
Position
Percentage of Ownership
Is this a public reportingcompany?
Position Start Date
Does this owner direct themanagement or policies ofthe firm?
NICHOLSON, MYRA PEARLE
CHIEF LEGAL OFFICER, CHIEF RISK OFFICER
Less than 5%
No
Individual
12/2017
No
2740029
Is this a domestic or foreignentity or an individual?
Legal Name & CRD# (if any):
WEINBERGER, DAVID S
2676116
Legal Name & CRD# (if any):
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Direct Owners and Executive Officers (continued)
Firm Profile
Position
Percentage of Ownership
Is this a public reportingcompany?
Position Start Date
Does this owner direct themanagement or policies ofthe firm?
PRESIDENT/REGISTERED OPTIONS PRINCIPAL/ CHIEF FINANCIALOFFICER//FINOP
Less than 5%
No
Individual
01/2020
Yes
2676116
Is this a domestic or foreignentity or an individual?
Position
Percentage of Ownership
Is this a public reportingcompany?
Position Start Date
Does this owner direct themanagement or policies ofthe firm?
WEISS, RICHARD JAY
CHIEF COMPLIANCE OFFICER, CHIEF AML CCO
Less than 5%
No
Individual
01/2018
No
2523174
Is this a domestic or foreignentity or an individual?
Legal Name & CRD# (if any):
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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
Legal Name & CRD# (if any):
Is this a domestic or foreignentity or an individual?
Company through whichindirect ownership isestablished
Relationship to Direct Owner
Relationship Established
Percentage of Ownership
Does this owner direct themanagement or policies ofthe firm?
Is this a public reportingcompany?
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Firm History
This section provides information relating to any successions (e.g., mergers, acquisitions) involving the firm.
No information reported.
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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
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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
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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
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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
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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
Name: RBC CAPITAL MARKETS, LLC
Business Address: 3 WORLD FINANCIAL CENTERNEW YORK, NY 10281
CRD #: 31194
Effective Date: 04/20/2018
Description: RBC CAPITAL MARKETS, LLC MAINTAINS SOME BOOKS AND RECORDSOF THE APPLICANT RELATING TO THE CLEARING OF TRANSACTIONSAND CUSTODY
Name: RBC CAPITAL MARKETS, LLC
Business Address: 3 WORLD FINANCIAL CENTERNEW YORK, NY 10281
CRD #: 31194
Effective Date: 04/20/2018
Description: RBC CAPITAL MARKETS, LLC MAINTAINS CUSTODY OF APPLICANTSFUNDS AND SECURITIES
Name: RBC CAPITAL MARKETS, LLC
Business Address: 3 WORLD FINANCIAL CENTERNEW YORK, NY 10281
CRD #: 31194
Effective Date: 04/20/2018
Description: RBC CAPITAL MARKETS, LLC MAINTAINS CUSTODY OF ALL CLIENTFUNDS AND SECURITIES.
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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
390 NORTH ORANGE AVENUESUITE 750ORLANDO, FL 32801
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:
Investment AdvisoryActivities:
Securities Activities:
Country:
Foreign Entity:
Effective Date:
Business Address:
CRD #:
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Firm Operations
Organization Affiliates (continued)
BOTH INTERNATIONAL ASSETS ADVISORY, LLC AND INTERNATIONALASSETS INVESTMENT MANAGEMENT, LLC ARE WHOLLY OWNED BYPECUNIA MANAGEMENT, LLC.
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:
Investment AdvisoryActivities:
Securities Activities:
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.
BOTH INTERNATIONAL ASSETS ADVISORY, LLC AND INTERNATIONALASSETS INVESTMENT MANAGEMENT, LLC ARE WHOLLY OWNED BYPECUNIA MANAGEMENT, LLC.
Description:
Investment AdvisoryActivities:
Securities Activities:
Country:
Foreign Entity:
Effective Date:
Business Address:
CRD #:
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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
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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
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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
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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)
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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
Principal Sanction(s)/ReliefSought:
Censure
Other Sanction(s)/ReliefSought:
$30,000 FINE AND RESTITUTION IN THE AMOUNT OF $92,805.13 PLUSINTEREST
Date Initiated: 12/03/2019
Docket/Case Number: 2017056579501
Principal Product Type: Other
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
Current Status: Final
Resolution Date: 12/03/2019
Resolution:
Other Sanctions Ordered:
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
Acceptance, Waiver & Consent(AWC)
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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
Reporting Source: Regulator
Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
Principal Sanction(s)/ReliefSought:
Other Sanction(s)/ReliefSought:
Date Initiated: 11/29/2000
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.
Current Status: Final
Resolution Date: 11/29/2000
Resolution:
Other Sanctions Ordered:
Sanction Details: 03-23-01, $10,000 PAID 1/04/01
Sanctions Ordered: CensureMonetary/Fine $10,000.00
Acceptance, Waiver & Consent(AWC)
iReporting Source: Firm
Allegations: FAILURE TO TRANSMIT EXECUTION REPORTS THROUGH ACT WITHIN 90SECONDS AFTER EXECUTION AND, IN SOME INSTANCES, FAILURE TOMARK THE REPORTS AS LATE.
Current Status: Final
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Initiated By: NASD REGULATION, INC.
Principal Sanction(s)/ReliefSought:
Censure
Other Sanction(s)/ReliefSought:
FINE OF $10,000
Date Initiated: 07/14/2000
Docket/Case Number: CMS000246
Principal Product Type: No Product
Other Product Type(s):
FAILURE TO TRANSMIT EXECUTION REPORTS THROUGH ACT WITHIN 90SECONDS AFTER EXECUTION AND, IN SOME INSTANCES, FAILURE TOMARK THE REPORTS AS LATE.
Resolution Date: 11/29/2000
Resolution:
Other Sanctions Ordered:
Sanction Details: $10000.00 FINE PAID ON JANUARY 3, 2001.
Sanctions Ordered: CensureMonetary/Fine $10,000.00
Acceptance, Waiver & Consent(AWC)
Disclosure 3 of 7
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Reporting Source: Regulator
Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS
Principal Sanction(s)/ReliefSought:
Date Initiated: 05/10/2000
Docket/Case Number: CMS000084
Principal Product Type: Equity - OTC
Other Product Type(s):
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.
Current Status: Final
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Principal Sanction(s)/ReliefSought:
Other Sanction(s)/ReliefSought:
Resolution Date: 05/10/2000
Resolution:
Other Sanctions Ordered:
Sanction Details: 11-01-00, $5,000 PREPAID
Sanctions Ordered: Monetary/Fine $5,000.00
Acceptance, Waiver & Consent(AWC)
iReporting Source: Firm
Initiated By: NASD REGULATION, INC.
Principal Sanction(s)/ReliefSought:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanction(s)/ReliefSought:
Date Initiated: 12/06/1999
Docket/Case Number: CMS000084 AWC
Principal Product Type: No Product
Other Product Type(s):
Allegations: REPORTING VIOLATIONS TO THE AUTOMATED CONFIRMATIONTRANSACTION SERVICE
Current Status: Final
Resolution Date: 05/10/2000
Resolution:
Other Sanctions Ordered:
Sanction Details: FINE OF $5,000.00 PAID 5/25/00.
Sanctions Ordered: Monetary/Fine $5,000.00
Acceptance, Waiver & Consent(AWC)
Disclosure 4 of 7
i
Reporting Source: Regulator
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Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
Principal Sanction(s)/ReliefSought:
Other Sanction(s)/ReliefSought:
Date Initiated: 11/24/1999
Docket/Case Number: CMS990144
Principal Product Type: Other
Other Product Type(s):
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.
Current Status: Final
Resolution Date: 11/24/1999
Resolution:
Other Sanctions Ordered:
Sanction Details: CENSURED AND FINED $7,500 *** 04/11/2000GS: $7,500 PAID ON 12/17/99(INVOICE NO. NOT AVAILABLE).
Regulator Statement NONE
Sanctions Ordered: CensureMonetary/Fine $7,500.00
Acceptance, Waiver & Consent(AWC)
iReporting Source: Firm
Initiated By: NASD REGULATION, INC.
Date Initiated: 02/16/1999
Docket/Case Number: CMS990144
Allegations: REPORTING VIOLATIONS TO THE AUTOMATED CONFIRMATIONTRANSACTION SRVICE ("ACT").
Current Status: Final
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Principal Sanction(s)/ReliefSought:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanction(s)/ReliefSought:
CENSURE
Principal Product Type: No Product
Other Product Type(s):
Resolution Date: 11/24/1999
Resolution:
Other Sanctions Ordered:
Sanction Details: FINE OF $7500.00 PAID DECEMBER 3, 1999.
Sanctions Ordered: CensureMonetary/Fine $7,500.00
Acceptance, Waiver & Consent(AWC)
Disclosure 5 of 7
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Reporting Source: Regulator
Initiated By: ILLINOIS SECURITIES DEPARTMENT
Principal Sanction(s)/ReliefSought:
Other Sanction(s)/ReliefSought:
Date Initiated: 06/21/1994
Docket/Case Number: 9400068
URL for Regulatory Action:
Principal Product Type:
Other Product Type(s):
Allegations: RESPONDENTS INTERNATIONAL ASSETS ADVISORYCORP. AND NANCEY M. MCMURTRY FILED A DEFICIENT AND MATERIALLYFALSE RESPONSE TO A REQUEST FOR INFORMATION.
Current Status: Final
Resolution Date: 08/08/1994
Resolution:
Sanctions Ordered: CensureMonetary/Fine $2,000.00
Consent
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Other Sanctions Ordered:
Sanction Details: CONSENT ORDER OF CENSURE AND FINE. RESPONDENT ISHEREBY CENSURED AND FINED $2,000.00.
Regulator Statement CONTACT: 217-785-4940
Sanctions Ordered: CensureMonetary/Fine $2,000.00
iReporting Source: Firm
Initiated By: STATE OF ILLINOIS
Principal Sanction(s)/ReliefSought:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanction(s)/ReliefSought:
CENSURED
Date Initiated: 06/21/1994
Docket/Case Number: 9400068
Principal Product Type: No Product
Other Product Type(s):
Allegations: APPLICANT FAILED TO FULLY RESPOND TO CERTAIN ADMINISTRATIVEREQUESTS.
Current Status: Final
Resolution Date: 08/08/1994
Resolution:
Other Sanctions Ordered:
Sanction Details: ADMINISTRATIVE FINE PAID AUGUST, 1994
Firm Statement APPLICANT INADVERTENTLY FAILED TO PROVIDE CERTAIN INFORMATIONREQUESTED BY THE STATE.
Sanctions Ordered: CensureMonetary/Fine $2,000.00
Consent
Disclosure 6 of 7
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Reporting Source: Regulator
Allegations:
Current Status: Final
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Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
Principal Sanction(s)/ReliefSought:
Other Sanction(s)/ReliefSought:
Date Initiated: 12/31/1991
Docket/Case Number: C07910137
Principal Product Type:
Other Product Type(s):
Allegations:
Resolution Date: 06/10/1992
Resolution:
Other Sanctions Ordered:
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**
Sanctions Ordered: CensureMonetary/Fine $15,500.00
Consent
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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**
iReporting Source: Firm
Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
Principal Sanction(s)/ReliefSought:
Censure
Other Sanction(s)/ReliefSought:
JOINT AND SEVERAL FINE BETWEEN RESPONDENTS.RESPONDENT INTERNATIONAL ASSETS HAD TO FILE WITH THEASSOCIATION ALL ADVERTISEMENTS AND SALES LITERATURE FOR SIXMONTHS.
Date Initiated: 12/31/1991
Docket/Case Number: CO7910137
Principal Product Type: No Product
Other Product Type(s):
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.
Current Status: Final
Resolution Date: 06/10/1992
Resolution:
Other Sanctions Ordered: FILING OF SALES LITERATURE FOR SIX MONTHS WITH ASSOCIATION.
Sanctions Ordered: CensureMonetary/Fine $15,500.00
Decision & Order of Offer of Settlement
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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
i
Reporting Source: Regulator
Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
Principal Sanction(s)/ReliefSought:
Other Sanction(s)/ReliefSought:
Date Initiated: 10/30/1987
Docket/Case Number: ATL-936
Principal Product Type:
Other Product Type(s):
Allegations:
Current Status: Final
Resolution Date: 06/14/1988
Resolution:
Other Sanctions Ordered:
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.
Sanctions Ordered: CensureMonetary/Fine $2,000.00
Consent
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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.
iReporting Source: Firm
Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS
Principal Sanction(s)/ReliefSought:
Censure
Other Sanction(s)/ReliefSought:
FINE
Date Initiated: 10/30/1987
Docket/Case Number: ATL-936
Principal Product Type: No Product
Other Product Type(s):
Allegations: EFFECTED AS PRINCIPAL FOR ITS OWN ACCOUNT OVER-THE-COUNTERSALES OF CORPORATE SECURITIES TO PUBLIC CUSTOMERS AT PRICESWHICH WERE NOT FAIR.
Current Status: Final
Resolution Date: 06/14/1988
Resolution:
Other Sanctions Ordered:
Sanction Details: $2,000 FINE PAID 7/11/88
Sanctions Ordered: CensureMonetary/Fine $2,000.00
Settled
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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
Reporting Source: Regulator
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.
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