FINRA Negligence and Mismanagement Arbitration Attorney, Russell L. Forkey, Esq.

August, 2011:

Kirk Loring Gravelle (CRD #2580309, Registered Representative, Macclenny, Florida) was fined $10,000, suspended from association with any FINRA member in any capacity for five business days and required to requalify by examination. The sanctions were based on findings that Gravelle mismarked customer orders to buy securities as unsolicited when he had, in fact, recommended the purchase of the securities to customers. The findings stated that had Gravelle consulted his member firm’s No Solicitation List, he would have known that registered representatives were restricted from soliciting because conflicts could arise from activity within the firm’s investment banking department. The findings also stated that the list was updated throughout each day, and the firm’s WSPs required Gravelle to check the list on a daily basis. The findings also included that Gravelle’s entry of false information in connection with the trades rendered his firm’s books and records inaccurate.  The suspension was in effect from July 5, 2011, through July 11, 2011. (FINRA Case #2008014712201).