South Florida Arbitration & Litigation Lawyer Blog
FINRA Securities Fraud, Misrepresentation and Mismanagement Attorney, Russell L. Forkey, Esq.
May, 2011
Donald Barry Weidenfeld (CRD #1751232, Registered Principal, Del Ray Beach, Florida, currently licensed with Raymond James & Associates, 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 one month. In determining sanctions, FINRA took into account the disciplinary action taken by Weidenfeld’s member firm for the same conduct. Without admitting or denying the findings, Weidenfeld consented to the described sanctions and to the entry of findings that he exercised discretion in a customer’s account, which was a commission-based, nondiscretionary account, at his member firm without the customer’s written authorization and his firm’s acceptance of the account as discretionary. The findings stated that Weidenfeld was the broker of record for the customer’s account at his firm. The findings also stated that Weidenfeld completed annual certifications for his firm wherein he inaccurately attested that he had not exercised discretion in any non fee-based customer accounts. The suspension is in effect from April 18, 2011, through May 17, 2011. (FINRA Case #2009016703901).
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