Roswell, Georgia Representative Suspended and Fined for Excessive Trading

Denny Darmodihardjo of Roswell, Georgia submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority for allegedly recommending and making unstable investments on behalf of a client. Mr. Darmodihardjo first became associated with FINRA through a member firm in 1995. From 2006 through 2015, Mr. Darmodihardjo was a General Securities Representative (GSR) through Rockwell Global Capital LLC (Rockwell). FINRA found that between 2009 and 2011, Mr. Darmodihardjo engaged in excessive trading in three of a client’s accounts. FINRA further alleged that Mr. Darmodihardjo recommended unsuitable short selling and margin use to his customers’ in violation of FINRA and NASD conduct rules. At the time of these investments, Mr. Darmodihardjo had limited experience in margin trading and was recommending investments that did not comply with his clients risk tolerance and objectives. In October 2010, Mr. Darmodihardjo executed thirteen short sales accounting for $897,057 traded on margin.  This excessive trading resulted in four margin calls in that month alone, and further losses in the account.

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