November 2021 FINRA Disciplinary Actions

This post is written on behalf of Girard Bengali, APC.

November 2021 FINRA Disciplinary Actions

DAEMON L. JOHNSON (CRD #7168475, BLOOMFIELD HILLS, MICHIGAN)

October 28, 2021 – An AWC was issued in which Johnson was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Johnson consented to the sanction and to the entry of findings that he converted $9,720 from the state of Arizona that was intended for someone else. The findings stated that Johnson had intentionally and without authorization took ownership of COVID-19 unemployment relief funds intended for another party. (FINRA Case #2020067390702)

LADY N. SANCHEZ ROMERO (CRD #5591832, NEW YORK, NEW YORK)

October 28, 2021 – An AWC was issued in which Romero was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Romero consented to the sanction and to the entry of findings that she refused to provide documents and information as requested by FINRA. The findings stated that Romero was under investigation regarding cash and checks found in her desk that belonged to a third party when she refused to provide the requested information. (FINRA Case #2020068954301)

BLAIR EDWARDS OLSEN (CRD #1545765, CAREFREE, ARIZONA)

October 29, 2021 – An OHO decision became final in which Olsen was barred from association with any FINRA member in all capacities. The sanction was based on findings that Olsen refused to provide documents and information or appear for on-the-record testimony as requested by FINRA. The findings stated that Olsen was under investigation regarding seven felony charges of aggravated assault that he had not amended his form U4 to disclose to his member firm when he refused to appear. (FINRA Case #2018058798802)

JAMES ALAN SEIJAS (CRD #2392901, SHORT HILLS, NEW JERSEY)

November 2, 2021 – An AWC was issued in which Seijas was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Seijas consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony as requested by FINRA. The findings stated that Seijas was under investigation regarding allegations made in a lawsuit that he has misrepresented investments as part of a Ponzi scheme when he refused to appear. (FINRA Case #2020066137801)

ABDUL MATIN RAHMANI (CRD #4269583, MINEOLA, NEW YORK)

November 2, 2021 – An OAO settlement became final in which Rahmani was barred from association with any FINRA member in all capacities. The sanction was based on findings that Rahmani engaged in outside business activities through and on behalf of an outside entity without providing prior written notice to his member firm and failed to cooperate with FINRA’s investigation into those activities. The findings stated that Rahmani had been under investigation regarding his outside business activities when he provided incomplete and false information in response to FINRA’s requests. (FINRA Case #2019063626703)

PATRICK CHARLES KINCHELOE (CRD #5955889, ROANOKE, VIRGINA)

November 3, 2021 – An AWC was issued in which Kincheloe was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Kincheloe consented to the sanction and to the entry of findings that he refused to provide on-the-record testimony as requested by FINRA. The findings stated that Kincheloe was under investigation regarding allegations made in a U5 filed by his former member firmed that he had involved an unregistered person in activities that required securities registration when he refused to testify. (FINRA Case #2019064729703)

DAVID JOHN MELILLI (CRD #5254172, MOORESTOWN, NEW JERSEY)

November 8, 2021 – An AWC was issued in which Melili was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Melili consented to the sanction and to the entry of findings that he refused to provide documents and information as requested by FINRA. The findings stated that Melili was under investigation regarding allegations that he had performed actions on customer accounts without proper authorization when he refused to cooperate. (FINRA Case #2019063681001)

STEVEN DWAYNE MUSIELSKI (CRD #2128821, ANAHEIM, CALIFORNIA)

November 9, 2021 – An AWC was issued in which Musielski was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Musielski consented to the sanction and to the entry of findings that he refused to provide documents and information as requested by FINRA. The findings stated that Musielski was under investigation regarding potential exercise of discretion without written authorization, potential excessive trading, and potentially unsuitable investments in leveraged and inverse­leveraged securities when he refused to cooperate. (FINRA Case #2021070896602)

RODERICK LEN WHITED (CRD #2663822, GAINSVILLE, FLORIDA)

November 15, 2021 – An AWC was issued in which Whited was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Whited consented to the sanction and to the entry of findings that he converted funds intended for charitable causes by sending them to his personal bank account instead. The findings stated that Whited converted $44,170 in charitable donations from fundraising events hosted by his branch office and used them to pay for his own expenses instead of delivering them to charities as both donors and the charities in question intended. (FINRA Case #2020065505201)

JAMES EARL SIMPSON (CRD #424828, TOLEDO, OHIO)

November 19, 2021 – An AWC was issued in which Simpson was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Simpson consented to the sanction and to the entry of findings that he refused to provide documents and information as requested by FINRA. The findings stated that Simpson was under investigation allegations made in a U5 filed by his former member firm that he had sold a customer an unsuitable variable annuity and misused her funds and misappropriated funds from a different customer intended for an investment outside the firm when he refused to cooperate. (FINRA Case #2021072352301)

MICHAEL JOHN GIOVANNELLI (CRD #4989449, GARDEN CITY, NEW YORK)

November 19, 2021 – An OHO decision became final in which Giovannelli was barred from association with any FINRA member in all capacities. The sanction was based on findings that Giovannelli provided falsified documents and false testimony to FINRA staff and engaged in unauthorized trading on a customer account. The findings stated that Giovannelli performed discretionary trading on four customers accounts, as well as unauthorized trading, and proceeded to provide false testimony and falsified documents when confronted about these actions. (FINRA Case #2019061941101)

related Posts

Scroll to Top