NASD Registered Person: ROSS H MANDELL
CRD Number: 1219720
********************************************************************************
REGULATORY ACTIONS
********************************************************************************
******** REGULATORY ACTION (1 of 5) ********
Reporting Source: Broker (Form U-4)
Date Reported: 07/30/2002
Initiated By: OHIO DIVISION OF SECURITIES
Date initiated: 07/03/2002
Docket/
Case Number: 02-176
Employing Firm: SKY CAPITAL LLC
Allegations: BASED ON PRIOR DISCIPLINARY EVENTS INCLUDING CUSTOMER
ARBITRATIONS, COMPLAINTS, STATE REGISTRATION DENIALS, AND NYSE
PROCEEDING
Current Status: Final
Resolution: Other
Resolution Date: 07/30/2002
Sanctions
Ordered:
NASD Public Disclosure Program June 07, 2003 Page 6
This information is current as of: 06/06/2003
________________________________________________________________________________
NASD Registered Person: ROSS H MANDELL
CRD Number: 1219720
REGULATORY ACTIONS(cont.)
Resolution
Details:
Summary: APPLICATION FOR AGENT REGISTRATION WITHDRAWN JULY 30,2002.
******** REGULATORY ACTION (2 of 5) ********
Reporting Source: Broker (Form U-4)
Date Reported: 07/09/2002
Initiated By: MICHIGAN DIVISION OF SECURITIES
Date initiated: 02/12/2001
Docket/
Case Number:
Employing Firm: THE THORNWATER COMPANY, L.P.
Allegations: FAILURE TO PROVIDE THE DIVISION OF SECURITIES WITH REQUESTED
DOCUMENTS RE CUSTOMER COMPLAINT
Current Status: Final
Resolution: Order
Resolution Date: 02/12/2001
Sanctions
Ordered: Revocation/Expulsion
Resolution
Details: APPLICATION FOR AGENT REGISTRATION DENIED.
Summary: APPLICATION FOR AGENT REGISTRATION DENIED.
******** REGULATORY ACTION (3 of 5) ********
Reporting Source: Broker (Form U-4)
Date Reported: 07/30/2002
Initiated By: OHIO DIVISION OF SECURITIES
Date initiated: 08/07/1997
Docket/
Case Number: 97-299
Employing Firm: THE THORNWATER COMPANY, L.P.
Allegations: BASED ON PRIOR DISCIPLINARY EVENTS, CUSTOMER ARBITRATIONS,
COMPLAINTS, AND NYSE PROCEEDING
Current Status: Final
Resolution: Withdrawn
Resolution Date: 08/26/1997
Sanctions
Ordered:
Resolution
Details:
Summary: 08/07/1997 ORDER TERMINATED AND RESCINDED ON 08/26/1997, ORDER
NO. 97-323
******** REGULATORY ACTION (4 of 5) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 05/29/1997
Initiated By: ILLINOIS SECURITIES DEPARTMENT
Date initiated: 04/29/1997
Docket/
NASD Public Disclosure Program June 07, 2003 Page 7
This information is current as of: 06/06/2003
________________________________________________________________________________
NASD Registered Person: ROSS H MANDELL
CRD Number: 1219720
REGULATORY ACTIONS(cont.)
Case Number: 9700323
Employing Firm:
Allegations: RESPONDENT'S SALESPERSON REGISTRATION IS SUBJECT TO DENIAL
BASED UPON AN ORDER ENTERED BY THE NYSE WITH FINDINGS OF
UNAUTHORIZED TRANSACTIONS.
Current Status: Final
Resolution:
Resolution Date: 05/29/1997
Sanctions
Ordered: Revocation/Expulsion
Resolution
Details: SUMMARY ORDER OF DENIAL ISSUED APRIL 29, 1997. RESPONDENT HAS
THIRTY DAYS IN WHICH TO REQUEST A HEARING. IF NO SUCH REQUEST
IS MADE WITHIN THAT TIME PERIOD THE SUMMARY ORDER WILL BECOME
FINAL. ORDER OF DENIAL ISSUED MAY 29, 1997. RESPONDENT'S
APPLICATION FOR REGISTRATION AS A SALESPERSON IN THE STATE OF
*ILLINOIS IS DENIED.
Summary: CONTACT: 217-785-4948
***********************************
Reporting Source: Broker (Form U-4)
Date Reported: 03/28/2002
Initiated By: ILLINOIS SECURITIES DEPARTMENT
Date initiated: 04/29/1997
Docket/
Case Number: 9700323
Employing Firm: RODMAN & RENSHAW, INC., D.H. BLAIR & CO., INC.,
PRUDENTIAL-BACHE SECURITIES, INC.
Allegations: DENIED REGISTRATION DUE TO MARCH 1995 NYSE ORDER OF CENSURE AND
SIX-WEEK SUSPENSION.
Current Status: Final
Resolution: Order
Resolution Date: 05/29/1997
Sanctions
Ordered: Revocation/Expulsion
Resolution
Details: REGISTRATION DENIED
Summary: WE ARE PREPARING AN APPEAL OF THE ORDER.
******** REGULATORY ACTION (5 of 5) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 03/10/1995
Initiated By: NYSE DIVISION OF ENFORCEMENT.
Date initiated: 10/20/1994
Docket/
Case Number: HPD 95-6
Employing Firm: RODMAN & RENSHAW
Allegations: OCTOBER 20, 1994 -- CHARGES ISSUED BY NYSE DIVISION OF
ENFORCEMENT AND PENDING: CHARGE I: ROSS H. MANDELL, BY
REASON OF THE FACTS SET FORTH IN THE STATEMENT OF FACTS AND
EXPLANATION, ENGAGED IN CONDUCT INCONSISTENT WITH JUST AND
EQUITABLE PRINCIPLES OF TRADE BY EFFECTING TRANSACTIONS IN THE
ACCOUNTS OF ONE OR MORE CUSTOMERS OF HIS MEMBER ORGANIZATION
EMPLOYER WITHOUT SUCH CUSTOMERS' PRIOR KNOWLEDGE OR
AUTHORIZATION, AND HE IS, THEREFORE, SUBJECT TO DISCIPLINE
PURSUANT TO EXCHANGE RULE 476(a). CHARGE II: ROSS H.
MANDELL, BY REASON OF THE FACTS SET FORTH IN THE STATEMENT OF
FACTS AND EXPLANATION, VIOLATED EXCHANGE RULE 408(a) BY
ACCEPTING ORDERS FOR TRANSACTIONS IN THE ACCOUNTS OF ONE OR
NASD Public Disclosure Program June 07, 2003 Page 8
This information is current as of: 06/06/2003
________________________________________________________________________________
NASD Registered Person: ROSS H MANDELL
CRD Number: 1219720
REGULATORY ACTIONS(cont.)
MORE CUSTOMERS OF HIS MEMBER ORGANIZATION EMPLOYER FROM A
PERSON OTHER THAN THE CUSTOMERS WITHOUT FIRST OBTAINING
WRITTEN AUTHORIZATION TO DO SO, AND HE IS, THEREFORE, SUBJECT
TO DISCIPLINE PURSUANT TO EXCHANGE RULE 476(a).
Current Status: Final
Resolution: Consent
Resolution Date: 02/14/1995
Sanctions
Ordered: Censure, Suspension
Resolution
Details: PENDING. **JANUARY 17, 1995** DECISION HPD#95-6 ISSUED BY NYSE
HEARING PANEL: MR. MANDELL EFFECTED TRANSACTIONS WITHOUT
CUSTOMER KNOWLEDGE OR AUTHORIZATION; VIOLATED RULE 408(a) BY
ACCEPTING ORDERS FOR CUSTOMERS FROM A PERSON OTHER THAN THE
CUSTOMERSS WITHOUT WRITTEN AUTHORIZATION - - CONSENT TO
CENSURE AND SIX WEEK SUSPENSION.
Summary: **MARCH 10, 1995**THE DECISION IS NOW FINAL AND EFFECTIVE 9:00
A.M. ON FEBRUARY 14, 1995. CONTACT: PEGGY L. GERMINO. 656-8450
***********************************
Reporting Source: Broker (Form U-4)
Date Reported: 03/28/2002
Initiated By: NEW YORK STOCK EXCHANGE
Date initiated: 10/19/1994
Docket/
Case Number: HPD 95-6
Employing Firm: RODMAN & RENSHAW
Allegations: EFFECTED TRANSACTIONS WITHOUT CUSTOMER KNOWLEDGE OR
AUTHORIZATION; VIOLATED RULE 408(A) BY ACCEPTING ORDERS FOR
CUSTOMER TRANSACTIONS FROM A PERSON OTHER THAN THE CUSTOMER
WITHOUT WRITTEN AUTHORIZATION FROM THE CUSTOMER.
Current Status: Final
Resolution: Consent
Resolution Date: 01/17/1995
Sanctions
Ordered: Censure, Suspension
Resolution
Details: CONSENT TO CENSURE AND SIX WEEK SUSPENSION (2/14/95 - 3/28/95)
FROM MEMBERSHIP, ALLIED MEMBERSHIP, APPROVED PERSON STATUS AND
EMPLOYMENT OR ASSOCIATION IN ANY CAPACITY WITH ANY MEMBER OR
MEMBER ORGANIZATION.
Summary:
NASD Public Disclosure Program June 07, 2003 Page 9
This information is current as of: 06/06/2003
________________________________________________________________________________
NASD Registered Person: ROSS H MANDELL
CRD Number: 1219720
********************************************************************************
TERMINATIONS
********************************************************************************
*********** TERMINATION (1 of 3) ***********
Reporting Source: Broker (Form U-4)
Date Reported: 01/21/1991
Firm Name: OPPENHEIMER & CO.
Termination Type: Permitted to Resign
Termination Date: 08/08/1986
Allegations: TEC #86-104 ABSENTISM AND POOR CONDUCT.
Summary: THIS MATTER HAS BEEN CLOSED. NO ACTION HAS EVER BEEN FILED. I
DO NOT BELIEVE THAT I VIOLATED ANY STANDARD OF CONDUCT OF THE
SECURITIES INDUSTRY. THIS MATTER HAS BEEN CLOSED.
*********** TERMINATION (2 of 3) ***********
Reporting Source: Broker (Form U-4)
Date Reported: 03/28/2002
Firm Name: STEVEN ANDREW & CO., INC.
Termination Type: Permitted to Resign
Termination Date: 05/11/1988
Allegations: INTERNAL REVIEW FOR VIOLATION OF INVESTMENT RELATED STATUTES,
REGULATIONS, RULES AND INDUSTRY STANDARDS OF CONDUCT, RELATING
TO ALLEGATIONS OF CUSTOMER NON-PAYMENT OF TRADES, UNAUTHORIZED
TRADING, AND FALSE/MISLEADING STATEMENTS TO CUSTOMERS.
Summary: INTERNAL REVIEW FOR VIOLATION OF INVESTMENT RELATED STATUTES,
REGULATIONS, RULES AND INDUSTRY STANDARDS OF CONDUCT, RELATING
TO ALLEGATIONS OF CUSTOMER NON-PAYMENT OF TRADES, UNAUTHORIZED
TRADING, AND FALSE/MISLEADING STATEMENTS TO CUSTOMERS. NASD
MADE AN INFORMAL INQUIRY INTO THE MATTER AND INFORMED ME BY
LETTER ON FEBRUARY 26, 1991 THAT IT HAD DETERMINED THAT NO
NASD Public Disclosure Program June 07, 2003 Page 10
This information is current as of: 06/06/2003
________________________________________________________________________________
NASD Registered Person: ROSS H MANDELL
CRD Number: 1219720
TERMINATIONS(cont.)
ACTION WAS WARRANTED, AND THE MATTER WAS CLOSED WITHOUT
BRINGING CHARGES.
*********** TERMINATION (3 of 3) ***********
Reporting Source: Broker (Form U-4)
Date Reported: 03/28/2002
Firm Name: RODMAN & RENSHAW INC.
Termination Type: Discharged
Termination Date: 10/19/1990
Allegations: CUSTOMER COMPLAINTS: UNAUTHORIZED TRADING.
Summary: COMPLAINTS OF UNAUTHORIZED TRADING BY CUSTOMERS MARTIN BELZ
(COMPLAINT INITIATED 7/90), WILLIAM MOORE (NASD ARBITRATION
INITIATED 10/90, SETTLED 12/90), JACKSON BAYS (COMPLAINT
3/90), WILLIAM HOOD (COMPLAINT 2/90, SETTLED 4/90), RICHARD
LIGUORI (COMPLAINT 8/90, SETTLED 9/90).
NASD Public Disclosure Program June 07, 2003 Page 11
This information is current as of: 06/06/2003
________________________________________________________________________________
NASD Registered Person: ROSS H MANDELL
CRD Number: 1219720
********************************************************************************
CUSTOMER COMPLAINTS
********************************************************************************
This information is current as of: 06/06/2003
________________________________________________________________________________
NASD Registered Person: ROSS H MANDELL
CRD Number: 1219720
CUSTOMER COMPLAINTS(cont.)
* Disposition Date: The disposition date of the arbitration, reparation
or litigation.
* Summary: Details related to the circumstances of the
complaint.
********************************************************************************
******** CUSTOMER COMPLAINT (1 of 6) ********
Reporting Source: Broker (Form U-4)
Date Reported: 03/28/2002
Date Received: 12/19/1997
Employing Firm: ROAN CAPITAL
Allegations: MISREPRESENTATION, UNAUTHORIZED TRADING, UNSUITABLE INVESTMENTS
Alleged Damages: $1,000,000.00
Action Pending?: No
Resolution: Arbitration/Reparation
Resolution
Date: 12/16/1999
Arbitration/Reparation
Details: NASD CASE # 97-5936
Service Date: 12/19/1997
Pending?: No
Disposition: Settled
Disposition
Date: 12/16/1999
Monetary Compensation
Amount: $75,000.00
Individual Contribution
Amount: $75,000.00
Disposition
Details: RATHER THAN ARBITRATE THE ABOVE MATTER AN ECONOMIC DECISION WAS
MADE TO SETTLE THE ISSUE RATHER THAN PAY THE EXPENSE OF LEGAL
FEES TO ARBITRATE.
******** CUSTOMER COMPLAINT (2 of 6) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 03/07/2000
Case Filed With: NASD
Date Initiated: 02/28/1991
Case Number: 91-00077
Employing Firm: RODMAN & RENSHAW, INC.
Allegations: BRCH OF FIDUCIARY DT; ACCOUNT RELATED-BREACH OF CONTRACT;
MISREPRESENTATION;
Alleged Damages: $1,000,000.00
Pending?: No
Disposition: Award
Disposition
Date: 03/03/1992
Disposition
Details: RESPONDENT ROSS MANDELL SHALL PAY CLAIMANT, COMPENSATORY
DAMAGES OF $16,691.00 PLUS INTEREST AT THE RATE OF 7% PER
ANNUM FROM JANUARY 4, 1990 UNTIL PAID IN FULL. CLAIMANT'S
CLAIM FOR PUNITIVE DAMAGES IS DENIED.
NASD Public Disclosure Program June 07, 2003 Page 13
This information is current as of: 06/06/2003
________________________________________________________________________________
NASD Registered Person: ROSS H MANDELL
CRD Number: 1219720
CUSTOMER COMPLAINTS(cont.)
***********************************
Reporting Source: Firm (Form U-5)
Date Reported: 05/27/1992
Date Received:
Employing Firm: RODMAN & RENSHAW, INC.
Allegations: UNSUITABLE INVESTMENTS AND UNAUTHORIZED TRADING. ALLEGED
DAMAGES OF $108,000.00
Alleged Damages: $1,000,000.00
Action Pending?: No
Resolution: Arbitration/Reparation
Resolution
Date:
Arbitration/Reparation
Details: National Association of Securities Dealers, Inc.; 91-00077
Service Date: 02/28/1991
Pending?: No
Disposition: Award to Customer
Disposition
Date: 03/03/1992
Monetary Compensation
Amount: $16,691.00
Individual Contribution
Amount: $16,691.00
Disposition
Details: MANDELL TO PAY CLAIMANT $16,691.00 Not Provided
***********************************
Reporting Source: Broker (Form U-4)
Date Reported: 03/28/2002
Date Received: 02/28/1991
Employing Firm: RODMAN & RENSHAW, INC.
Allegations: UNSUITABLE INVESTMENTS AND UNAUTHORIZED TRADING. ALLEGED
DAMAGES OF $1,000,000.
Alleged Damages: $1,000,000.00
Action Pending?: No
Resolution: Arbitration/Reparation
Resolution
Date: 03/03/1992
Arbitration/Reparation
Details: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.; 91-00077
Service Date: 02/28/1991
Pending?: No
Disposition: Award to Customer
Disposition
Date: 03/03/1992
Monetary Compensation
Amount: $16,691.00
Individual Contribution
Amount: $16,691.00
Disposition
Details: MANDELL TO PAY CLAIMANT $16,691.00.
******** CUSTOMER COMPLAINT (3 of 6) ********
NASD Public Disclosure Program June 07, 2003 Page 14
This information is current as of: 06/06/2003
________________________________________________________________________________
NASD Registered Person: ROSS H MANDELL
CRD Number: 1219720
CUSTOMER COMPLAINTS(cont.)
Reporting Source: Regulator (Form U-6)
Date Reported: 03/07/2000
Case Filed With: NASD
Date Initiated: 02/27/1987
Case Number: 87-00568
Employing Firm: OPPENHEIMER & CO., INC.
Allegations: SUITABILITY; UNAUTHORIZED TRADING
Alleged Damages: $45,830.15
Pending?: No
Disposition: Award
Disposition
Date: 06/08/1989
Disposition
Details: RESPONDENTS OPPENHEIMER & CO., AND ROSS H. MANDELL ARE JOINTLY
AND SEVERALLY LIABLE AND SHALL PAY TO THE CLAIMANTS THE SUM OF
$1,229.23. NO INTEREST IS AWARDED ON THIS AMOUNT.
***********************************
Reporting Source: Firm (Form U-5)
Date Reported: 03/22/2000
Date Received:
Employing Firm:
Allegations: ALLEGING THAT THE FIRM SHOULD RESTORE TO THEM THEIR ORIGINAL
$51,903.28 INVESTMENT IN THEIR ACCOUNT BECAUSE FIVE
TRANSACTIONS IN APRIL AND MAY OF 1986 WERE EXECUTED BY MR.
MANDELL WITHOUT THEIR AUTHORIZATION
Alleged Damages: $51,903.28
Action Pending?: No
Disposition
Details: ON JULY 11, 1986, THE FIRM ADVISED THE SCHAERS THAT THEY HAD
REJECTED THEIR CHARGES AGAINST MR. MANDELL AND DECLINED TO
RESCIND THEIR TRADES WITH THE FIRM. CONTACT: BETH MESSER AT
(212) 825-8272.
***********************************
Reporting Source: Broker (Form U-4)
Date Reported: 03/28/2002
Date Received: 05/01/1986
Employing Firm: OPPENHEIMER & CO., INC.
Allegations: ALLEGED FIVE UNAUTHORIZED TRADES IN APRIL AND MAY 1986
Alleged Damages: $45,830.15
Action Pending?: No
Resolution: Arbitration/Reparation
Resolution
Date: 06/08/1989
Arbitration/Reparation
Details: NASD; 87-00568
Service Date: 02/27/1987
Pending?: No
Disposition: Award to Customer
Disposition
Date: 06/08/1989
Monetary Compensation
Amount: $1,229.23
NASD Public Disclosure Program June 07, 2003 Page 15
This information is current as of: 06/06/2003
________________________________________________________________________________
NASD Registered Person: ROSS H MANDELL
CRD Number: 1219720
CUSTOMER COMPLAINTS(cont.)
Individual Contribution
Amount: $0.00
Disposition
Details: OPPENHEIMER & CO. FOUND LIABLE FOR $14,250.00. MR. MANDELL AND
OPPENHEIMER & CO. FOUND JOINTLY AND SEVERALLY LIABLE FOR
$1229.23. MR. MANDELL DID NOT CONTRIBUTE TOWARDS SETTLEMENT. |
