Florida Securities, Commodities and Precious Metals Fraud Attorney, Russell L. Forkey, Esq.
Kevin Leslie Moyer (CRD #2340238, Registered Principal, Deland, Florida, formerly licensed with Financial Advisers of America, LLC. and Brokersxpress, LLC.) 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 30 business days. The fine must be paid either immediately upon Moyer’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, Moyer consented to the described sanctions and to the entry of findings that he effected discretionary transactions in a customer’s account without obtaining the customer’s or his member firm’s written authorization. The findings stated that the customer and her relative each had an account for which Moyer was the broker, and a company they owned together had an account for which Moyer was the broker as well. The findings also stated that Moyer spoke regularly to the relative about transactions in all the accounts, but only received prior authorization for the transactions in the customer’s account from her for a minimum of the transactions, and the customer had not given her relative trading authority over her account. The findings also included that Moyer’s firm had not permitted its registered representatives to exercise discretion in customer accounts during this time. The suspension was in effect from February 22, 2011, through April 4, 2011. (FINRA Case #2009020137301).
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