I would say it is. On another note; NASD Member Firm: FIRST FINANCIAL EQUITY CORPORATION
CRD Number: 16507
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REGULATORY ACTIONS
********************************************************************************
DISCLOSURE INFORMATION
This section lists regulatory actions that were reported to the CRD and are
disclosable through the Public Disclosure Program. Disclosable regulatory
actions include formal proceedings initiated by a regulatory authority (i.e., a
state securities agency, the NASD, New York Stock Exchange, foreign regulatory
body, etc.) for a violation of investment-related rules or regulations. In
addition, revocations or suspensions of a broker's authority to act as an
attorney, accountant or federal contractor will appear here.
Some of the fields in this section of the report may be blank if the information
was not provided to CRD.
** OCCURRENCE COUNTS ** 2 Record(s)
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** FIELD DEFINITIONS **
* Reporting Source: The form through which details of the regulatory
action was reported to CRD.
* Date Reported: The date the regulatory action was reported to CRD.
* Initiated By: The name of the securities regulator that initiated
the regulatory action (e.g., regulator, foreign
financial regulatory authority, self-regulatory
organization, federal agency such as SEC, state,
etc.).
* Date Initiated: Date the regulatory action was initiated.
* Docket/Case Number: Docket or case number of the regulatory action.
* Employing Firm: Firm where broker was employed when activity
occurred that led to the regulatory action.
* Allegations: Allegations made against the broker leading to the
regulatory action.
* Current Status: The current status of the regulatory action (i.e.,
pending, on appeal or final).
* Resolution: The resolution of the regulatory action (e.g.,
acceptance, waiver and consent; decision; decision
and order of offer of settlement; order; settled;
etc.).
* Resolution Date: The date the regulatory action was resolved.
* Sanction Details: Additional details regarding any sanctions ordered.
* Summary: A summary of the details related to the regulatory
action.
********************************************************************************
******** REGULATORY ACTION (1 of 2) ********
Reporting Source: Regulator (Form BD)
Date Reported: 01/22/2001
Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
Date initiated: 11/29/2000
Docket/
Case Number: C3A000030
Allegations: FIRM CONDUCED A SECURITIES BUSINESS ON NINE DAYS WHILE FAILING
TO MAINTAIN THE REQUIRED MINIMUM NET CAPITAL. FIRM ACCEPTED
CHECKS IN PAYMENT FOR SECURITIES TRANSACTIONS THAT WERE MADE
PAYABLE TO THE FIRM, REQUIRING A MINIMUM NET CAPITAL OF
$250,000, WHICH IT FAILED TO MAINTAIN.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 11/29/2000
Sanctions
Ordered: Monetary/Fine, Censure
NASDR Public Disclosure Program March 18, 2001 Page <PAGE#>
This information is current as of: 03/16/2001
________________________________________________________________________________
NASD Member Firm: FIRST FINANCIAL EQUITY CORPORATION
CRD Number: 16507
REGULATORY ACTIONS(cont.)
Monetary Amount: $7,000.00
Resolution
Details: A FINE IN THE AMOUNT OF $7,000 WILL BE PAID IN MONTHLY
INSTALLMENTS OF $1,500.
Summary:
******** REGULATORY ACTION (2 of 2) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 12/06/2000
Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
Date initiated: 11/29/2000
Docket/
Case Number: C3A000030
Allegations: 12-06-00, SEC RULES 10B-9,15C2-4,15C3-1,NASD RULE 2110 -
RESPONDENT MEMBER, ACTING THROUGH AN INDIVIDUAL, PARTICIPATED
IN THE OFFER AND SALE OF DEBT SECURITIES ISSUED IN A PRIVATE
PLACEMENT SUBJECT TO A CONTINGENCY AND FAILED TO PROMPTLY
TRANSMIT INVESTOR FUNDS FOR THE PURCHASE OF NOTES TO AN
ACCOUNT SPECIFIED BY SEC RULE 15C2-4,CONTINUED TO OFFER AND
SELL NOTES AFTER THE DATE WHEN THE OFFERING SHOULD HAVE BEEN
TERMINATED FOR THE FAILURE OF THE STATED CONTINGENCY;AND
ACTING THROUGH ANOTHER INDIVIDUAL, CONDUCTED A SECURITIES
BUSINESS WHILE FAILING TO MAINTAIN THE REQUIRED MINIMUM NET
CAPITAL.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 11/29/2000
Sanctions
Ordered: Monetary/Fine, Censure
Monetary Amount: $22,000.00
Resolution
Details: CENSURED AND FINED $22,000, JOINTLY AND SEVERALLY WITH
INDIVIDUALS
Summary:
***********************************
Reporting Source: Regulator (Form BD)
Date Reported: 01/22/2001
Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
Date initiated: 11/29/2000
Docket/
Case Number: C3A000030
Allegations: REC'D INVESTOR FUNDS FOR THE PURCHASE OF NOTE AND FAILED TO
PROMPTLY TRANSMIT SUCH FUNDS TO AN ESCROW ACCT. CONTINUED TO
OFFER AND SELL NOTES AFTER THE DATE THE OFFERING SHOULD HAVE
BEEN TERMINATED FOR FAILURE TO MEET CONTINGENCY.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 11/29/2000
Sanctions
Ordered: Monetary/Fine, Censure
Monetary Amount: $15,000.00
Resolution
Details: A FINE IN THE AMOUNT OF $15,000 JOINTLY AND SEVERALLY AS TO
FIRST FINANCIAL EQUITY CORPORATION AND GEORGE FISCHER. THIS
FINE IS BEING PAID IN MONTHLY INSTALLMENTS OF $1,500.
NASDR Public Disclosure Program March 18, 2001 Page <PAGE#>
This information is current as of: 03/16/2001
________________________________________________________________________________
NASD Member Firm: FIRST FINANCIAL EQUITY CORPORATION
CRD Number: 16507
REGULATORY ACTIONS(cont.)
Summary:
************ END OF REPORT ************ |
