Sean Waggoner of Houston, Texas submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority for failing to disclose outside securities transactions. Waggoner was formerly registered as an Investment Company and Variable Contracts Products Representative through LPL Financial. FINRA alleged that between 2010 and 2016, Waggoner made at least eight private securities transactions without prior written notice to his firm. FINRA and NASD Rules require prior written notice to the member firm if you are engaging in private securities transactions. FINRA alleged that Waggoner violated NASD Rule 3050 and FINRA Rule 2010. Without admitting or denying the FINRA findings Waggoner agreed to the sanctions and was suspended from association with any FINRA member for two months, fined $10,000, and ordered to take additional education concerning registered representative responsibilities. Continue Reading
Byron A. Echeverria, a General Securities Representative formerly employed with the Houston, Texas branch of Morgan Stanley, submitted a Letter of Acceptance, Waiver, and Consent in which he consented to, but did not admit to or deny, the described sanctions and the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that he falsified customer account documents without the customers’ knowledge.
FINRA’s findings state that Byron A. Echeverria, of Katy, Texas, falsified ten documents related to ten customer accounts. Some of the falsified documents included disclosure forms, transfer forms and IRA distribution forms. Mr. Echeverria allegedly re-used original customer signatures from previously executed documents, recycled customers’ signed signature pages from expired forms, affixed customer initials to handwritten changes, and altered tax withholding amounts in order to expedite transactions. None of the customers were aware of the altered forms or that their signatures had been affixed by Mr. Echeverria. Continue Reading