NASD Member Firm: GLOBALINK SECURITIES, INC.CRD Number: 29721
This information is current as of: 10/02/2002
NASD Public Disclosure Program October 02, 2002 Page 4
This information is current as of: 10/02/2002
________________________________________________________________________________
NASD Member Firm: GLOBALINK SECURITIES, INC.
CRD Number: 29721
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REGULATORY ACTIONS
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DISCLOSURE INFORMATION
******** REGULATORY ACTION (1 of 1) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 07/24/2002
Initiated By: VIRGINIA
Date initiated: 07/10/2002
Docket/
Case Number: SEC-2001-00109
Allegations: DIVISION ALLEGED DEFENDANT IN VIOLATION OF VIRGINIA SECURITIES
ACT, EMPLOYED UNREGISTERED AGENT, YANSHI R. JIN, FAILED TO
ENFORCE ITS WRITTEN PROCEDURES BY ALLOWING MR. JIN TO OPEN NEW
ACCOUNTS AND SOLICIT THE INVESTMENTS OF VIRGINIA RESIDENTS.
FAILED TO ESTABLISH ADEQUATE WRITTEN PROCEDURES THAT SET FORTH
THE QUALIFICATIONS OF THESE INDIVIDUALS ACTING AS REGISTERED
OPTIONS PRINCIPAL OR SENIOR OPTIONS PRINCIPAL. VIOLATION OF
MR. JIN AS HE EXECUTED 1,205 TRANSACTIONS FOR 30 VIRGINIA
CUSTOMERS WITHOUT WRITTEN DISCRETIONARY AUTHORITY AND USED
MISLEADING ADVERTISING TO SOLICIT VIRGINIA CLIENTS.
Current Status: Final
Resolution: Decision & Order of Offer of Settlement
NASD Public Disclosure Program October 02, 2002 Page 5
This information is current as of: 10/02/2002
________________________________________________________________________________
NASD Member Firm: GLOBALINK SECURITIES, INC.
CRD Number: 29721
REGULATORY ACTIONS(cont.)
Resolution Date: 07/10/2002
Sanctions
Ordered: Monetary/Fine
Monetary Amount: $20,000.00
Other Sanctions: $20,000.00 FINE.
Resolution
Details: $20,000.00 FINE.
Summary: DEFENDANT ADMITS THAT IT EMPLOYED AN UNREGISTERED AGENT AND
PAID A $20,000.00 PENALTY AND REIMBURSED THE DIVISION FOR ITS
COST OF THE INVESTIGATION.
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Reporting Source: Firm (Form BD)
Date Reported: 08/07/2002
Initiated By: COMMONWEATLTH OF VIRGINIA
Date initiated: 10/04/2001
Docket/
Case Number: CASE NO. SEC010109
Allegations: FROM FEBRUARY 1999 THROUGH MAY 18, 1999 GLOBALINK EMPLOYED AN
AGENT (YANSHI "ROCK" JIN) AND TRANSACTED BUSINESS IN THE STATE
OF VIRGINIA AS AN UNREGISTERED AGENT; USED MISLEADING
ADVERTISING
Current Status: Final
Resolution: Settled
Resolution Date: 07/05/2002
Sanctions
Ordered: Monetary/Fine
Monetary Amount: $30,000.00
Resolution
Details: GLOBALINK WAS CHARGED WITH FOR EMPLOYING AN UNREGISTERED AGENT
(YANSHI "ROCK" JIN)FOR APPROXIMATELY 2 MONTHS IN 1999.
GLOBALINK AND THE COMMONWEALTH OF VIRGINIA SETTLED THE MATTER
FOR $30,000 WITH NO FURTHER ACTION FROM THE STATE.
Summary: GLOBALINK MUST RESPOND TO A "RULE TO SHOW CAUSE" BY MAY 15,
2002 AND APPEAR IN COURT IN VIRGINA ON JULY 9, 2002 TO RESPOND
TO ALLEGATIONS ON THEIR BEHALF.
NASD Public Disclosure Program October 02, 2002 Page 6
This information is current as of: 10/02/2002
________________________________________________________________________________
NASD Member Firm: GLOBALINK SECURITIES, INC.
CRD Number: 29721
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FIRM ARBITRATIONS
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DISCLOSURE INFORMATION
******** FIRM ARBITRATION (1 of 1) ********
Type of Event: ARBITRATION
Update: YES
Arbitration Forum: NASD
Case Served Date: 08/10/2000
Case Number: 00-03044
Allegations: ACCOUNT RELATED-BREACH OF CONTRACT; ACCOUNT RELATED -
FAILURE TO SUPERVISE; FRAUDULENT ACTIVITY-BRCH OF
FIDUCIARY DT; FRAUDULENT ACTIVITY-CHURNING
Type of Securities: COMMON STOCK;OPTIONS
Relief Asked: ACTUAL/COMPENSATORY DAMAGES, ASKED AMOUNT $245,000.00
JOINTLY AND SEVERALLY
Disposition: AWARD AGAINST PARTY
NASD Public Disclosure Program October 02, 2002 Page 7
This information is current as of: 10/02/2002
________________________________________________________________________________
NASD Member Firm: GLOBALINK SECURITIES, INC.
CRD Number: 29721
FIRM ARBITRATIONS(cont.)
Disposition Date: 04/03/2002
Relief Awarded: ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS BEEN AWARDED
(PARTIAL OR FULL, AWARD AMOUNT $100,000.00 7C. RELIEF
ASKED: INTEREST, ASKED AMOUNT $0.01 JOINTLY AND
SEVERALLY; PUNITIVE/EXEMPLARY DAMAGES, ASKED AMOUNT
$10,000.00 SEVERALLY ; ATTORNEY'S FEES, ASKED AMOUNT
$0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT
$0.00 JOINTLY AND SEVERALLY; OTHER COSTS, ASKED AMOUNT
$0.00 JOINTLY AND SEVERALLY 8A. CURRENT STATUS: AWARD
AGAINST PARTY 8B. STATUS DATE: 04/03/2002 8C. RELIEF
AWARDED: INTEREST, RELIEF HAS BEEN AWARDED (PARTIAL OR
FULL, AWARD AMOUNT $0.01; PUNITIVE/EXEMPLARY DAMAGES,
RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD AMOUNT
$10,000.00; ATTORNEY'S FEES, RELIEF HAS BEEN AWARDED
(PARTIAL OR FULL, AWARD AMOUNT $20,000.00; OTHER
COSTS, RELIEF HAS BEEN AWARDED (PARTIAL OR FULL, AWARD
AMOUNT $1,727.00; OTHER COSTS, RELIEF HAS BEEN AWARDED
(PARTIAL OR FULL, AWARD AMOUNT $600.00 |
