And chekc this out: TRAV and Wernick get nailed by NASDR:http://www.nasdr.com/2700b.htm Click on August,1999 2nd box and look at the bottom of page 525 (first page) through 526. TRAV and Wernick have been Baaaahd boyz.
"Firms Fined, Individuals Sanctioned
Patterson Travis, Inc. (CRD #16540, Woodmere, New York), David Thomas Travis (CRD #448950, Registered Principal, Englewood, Colorado), and Judah Liev Wernick (CRD #1633006, Registered Principal, Woodmere, New York) submitted an Offer of Settlement pursuant to which the firm, Travis, and Wernick were censured and fined $10,000, jointly and severally, and ordered to comply with undertakings which include, among other things, submitting a written
agreement to the NASD. The written agreement will clearly delineate all of the terms of an arrangement including, but not limited to, a detailed list of expenses, by category, which are the obligation of the firm and those which are the
obligation of Wernick or some other entity of the firm. The agreement will also permit the NASD to review the financial documentation and information concerning the payment of expenses of the entity and/or the individual paying the
firm?s expenses for the New York office. The firm and Wernick were fined an additional $30,000, jointly and severally, and Wernick was fined an additional
$20,000, suspended from association with any NASD member in any capacity for 10 business days, and suspended from association with any NASD member in any managerial or supervisory capacity for 60 days thereafter. Without admitting or denying the allegations, the respondents consented to the described sanctions and
to the entry of findings that the firm, directly and acting through Travis and Wernick, received payments for the purchase of securities from public customers
prior to the effective date of an initial public offering. The findings also stated that
the firm, directly and acting through Wernick, failed to execute promptly
customer orders to purchase or sell shares of common stock and failed to
promptly and/or accurately report its transactions in the stock. (NASD Case #C8A980095)" |
