South Florida Arbitration & Litigation Lawyer Blog
Unauthorized Trading FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq.
November, 2011:
John William Grant (CRD #227512, Registered Principal, Escondido, California) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Grant consented to the described sanction and to the entry of findings that he executed unauthorized transactions in an account belonging to trustees of a family trust. The findings stated that the principal value of these unauthorized trades was $1,088,561.12; the commissions amounted to $11,517.90. The findings also stated that for 18 months prior to these unauthorized transactions, there was no activity in the account aside from interest and dividend credits and the ensuing automatic purchases of shares in a money market fund. (FINRA Case #2011025940601).