South Florida Arbitration & Litigation Lawyer Blog
Broker/Dealer and Account Executive Fraud, Misrepresentation and Mismanagement FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq.
December, 2010:
Shawn Patrick Koerner (CRD #2183243, Registered Rep., Wautoma, Wisconsin) 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, Koerner consented to the described sanction and to the entry of findings that he borrowed $94,000 from a firm customer when his member firm’s compliance manual generally prohibited representatives from borrowing money from a customer other than a financial institution or a family member; the customer was neither. The findings stated that Koerner failed to respond to FINRA requests for information. (FINRA Case #2009019876801).