NASD Registered Person: SAMUEL CONANT PARKS
CRD Number: 602872
REGULATORY ACTIONS(cont.)
Resolution
Details:
Summary: COMPLAINT NO. C3B960018 FILED SEPTEMBER 24, 1996 BY DISTRICT
NO. 3 AGAINST SAMUEL CONANT PARKS ALLEGING VIOLATIONS OF NASD
RULES 2110, 3040 AND 3050 (FORMERLY ARTICLE III, SECTIONS 1,
40 AND 28 OF THE RULES OF FAIR PRACTICE) IN THAT RESPONDENT
PARKS OPENED TWO SECURITIES ACCOUNTS AT CANADIAN BROKER
DEALERS WITHOUT GIVING NOTICE TO HIS MEMBER FIRM; AND, ENGAGED
IN PRIVATE SECURITIES TRANSACTIONS WITHOUT PROVIDING PRIOR
WRITTEN NOTICE TO HIS MEMBER FIRM DESCRIBING THE PROPOSED
TRANSACTIONS, HIS PROPOSED ROLE THEREIN AND STATING WHETHER HE
WOULD RECEIVE ANY COMPENSATION IN CONNECTION WITH THIS
ACTIVITY. AMENDED COMPLAINT FILED MARCH 4, 1997 ALLEGING
VIOLATIONS OF NASD RULES 2110 AND 3050 IN THAT RESPONDENT
PARKS MADE PURCHASES OF SECURITIES FROM A CANADIAN ISSUER OR
OFFICER OF AN ISSUER AND BROUGHT AND SOLD STOCK THROUGH TWO
CANADIAN ACCOUNTS WITHOUT PROVIDING PRIOR WRITTEN NOTICE TO
HIS MEMBER FIRM DESCRIBING THE PROPOSED TRAHSACTIONS, HIS
PROPOSED ROLE THEREIN AND STATING WHETHER HE WOULD RECEIVE ANY
COMPENSATION IN CONNECTION WITH THE ACTIVITY. ON APRIL 25,
1997, THE DECISION AND ORDER OF ACCEPTANCE OF OFFER OF
SETTLEMENT SUBMITTED BY RESPONDENT PARKS WAS ISSUED;
THEREFORE, HE IS CENSURED AND FINED $5,000. ***$5,000.00 PAID
ON 6/5/97, INVOICE #97-3B-353***
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Reporting Source: Broker (Form U-4)
Date Reported: 04/10/2000
Initiated By: NASD, DISTRICT BUSINESS CONDUCT COMMITTEE, DISTRICT NO 3
Date initiated: 09/24/1996
Docket/
Case Number: C3B960018
Employing Firm: NATIONAL SECURITIES CORPORATION
Allegations: NASD ALLEGES THAT MR. PARKS FAILED TO DISCLOSE PERSONAL OUTSIDE
INVESTMENT ACTIVITY. THE NASD ALLEGES THIS CONDUCT
CONSTITUTES VIOLATIONS OF CONDUCT RULES 2110 AND 3050.
Current Status: Final
Resolution: Decision & Order of Offer of Settlement
Resolution Date: 04/25/1997
Sanctions
Ordered: Monetary/Fine, Censure
Monetary Amount: $5,000.00
Resolution
Details: SAMUEL PARKS WAS CENSURED AND FINED $5,000.00 BY THE NASD.
Summary: NOT PROVIDED
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