South Florida Arbitration & Litigation Lawyer Blog
FINRA Arbitration, Securities Fraud and Mismanagement Lawyer, Russell L. Forkey, Esq.
June, 2011 FINRA Enforcement Action:
Jeremy Kenneth Kelter (CRD #843565, Registered Principal, Lake Worth, Florida, formerly licensed with Sagepoint Financial, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for three months. The fine must be paid pursuant to the installment payment plan as designated on the election of payment form either immediately upon Kelter’s reassociation with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier. Without admitting or denying the findings, Kelter consented to the described sanctions and to the entry of findings that he sold fixed annuities to investors outside the scope of his employment with his member firm, for which he received compensation totaling approximately $69,000. The findings stated that Kelter never provided his firm with written notice of these sales. The suspension is in effect from April 18, 2011, through July 17, 2011. (FINRA Case #2009019380701.