All,
Hmm, interesting??
209.67.31.6
Edit -- here is the post
From Dr. Watson
Have you done your DD lately?
Interesting information you are about to see. This is public information about the founder of FNTN. Most of you know him as B. Barry Stein. His real name is Ben Bernat Stein. Can someone who has a SI account please post this there? Thanks.
ASSOCIATED PERSON: STEIN, BEN BERNAT
CRD NUMBER: 1015794
Associated Person: STEIN, BEN BERNAT
CRD Number: 1015794
9/29/98 SUMMARY INFORMATION
9/29/98: 12/17/93 CBOE CENSURE AND FINE
ACTION INITIATED BY: CHICAGO BOARD OF OPTIONS EXCHANGE; REGULATORY ACTION
TYPE: ADMINISTRATIVE; DATE INITIATED: 11/01/93; CASE/DOCKET NUMBER: 93-0039;
ALLEGATIONS: INITIATED NUMEROUS OPENING OPTION TRANSACTIONS WHILE NOT PRESENT
ON THE TRADING FLOOR OF THE EXCHANGE. STEINS TRANSACTIONS WERE PROPRIETARY
AND NOT ON BEHALF OF PUBLIC CUSTOMERS. AS A RESULT, STEIN RELIEVED SPECIALIST
EXEMPT CREDIT FOR MARGIN PURPOSES; HOW RESOLVED: CENSURE AND FINE; RESOLUTION
DATE: 12/17/93; SANCTION: CENSURE AND FINE; TOTAL AMOUNT: $3,500.00; DATE
PAID: NOT PROVIDED. lb.
9/29/98: 12/13/92 CBOE SUSPENSION
ACTION INITIATED BY: CHICAGO BOARD OPTIONS EXCHANGE; REGULATORY ACTION TYPE:
ADMINISTRATIVE; DATE INITIATED: 06/00/82; CASE/DOCKET NUMBER: 790033;
ALLEGATIONS: STEIN CAUSED TO BE EFFECTED IN HIS CUSTOMER ERROR ACCOUNT AT
CERTAIN FIRMS, VARIOUS TRANSACTIONS IN A CERTAIN OPTION CONTRACT FOR REASONS
OTHER THAN OCCURRENCE OF A BONA FIDE ERROR IN HIS HANDLING AS FLOOR BROKER AND
A MARKET-MAKER. HE ALSO FAILED TO REPORT TO THE EXCHANGE'S PRICE REPORTING
FACILITIES SALES WHICH HE EFFECTED FOR HIS ERROR ACCOUNT WITH CUSTOMER BUY
ORDERS IN HIS POSSESSION AND/OR SALES FROM CUSTOMER SELL ORDERS IN HIS
POSSESSION OF HIS CUSTOMER ERROR ACCOUNT. STEIN FAILED TO TIME STAMP ORDERS
WHICH HE RECEIVED FROM CUSTOMERS; HOW RESOLVED: SETTLEMENT; RESOLUTION DATE:
12/13/92; SANCTION: SUSPENSION; ACTION/STATUS DISPOSITION DETAILS SUMMARY:
STEIN WAS SUSPENDED FROM EXCHANGE ACTIVITY FOR TWO YEARS AND CONSUMED BUT NOT
FROM ASSOCIATION WITH ANY EXCHANGE MEMBER OR BROKER/DEALER. STEIN REQUESTED
BY MEANS OF A LETTER DATED 01/14/81, A HEARING TO REVIEW A $1,000.00 FINE
IMPOSED ON HIM BY TWO FLOOR OFFICIALS FOR FIGHTING ON THE TRADING FLOOR. THE
HEARING WAS HELD ON 01/29/81. STEIN ADMITTED AND OTHER WITNESSES TESTIFIED
THAT HE ATTACKED ANOTHER MEMBER ON THE TRADING FLOOR OF THE EXCHANGE DURING
BUSINESS HOURS IN A CERTAIN CROWD. AS A RESULT, HE WAS FINED $1,000.00. THE
COMMITTEE FOUND THAT THERE WAS NO EXCUSE FOR STEIN'S ACTION AND FURTHER FOUND
THAT HIS ACTION VIOLATED EXCHANGE RULE 6 20(B). THE COMMITTEE AFFIRMED THE
$1,000.00 FINE IMPOSED BY THE FLOOR OFFICIALS ON 09/03/87. lb.
1
9/29/98: 8/27/90 CBOE CENSURE AND FINE
ACTION INITIATED BY: CHICAGO BOARD OPTION EXCHANGE; REGULATORY ACTION TYPE:
CENSURE AND FINE; DATE INITIATED: 11/1989; CASE/DOCKET NUMBER: 89-0155 (A);
ALLEGATIONS: STEIN IMPROPERLY UTILIZED BOOTH SPACE ON THE FLOOR OF THE CBOE;
HOW RESOLVED: OFFER OF SETTLEMENT; RESOLUTION DATE: 8/27/1990; SANCTION:
CENSURED AND FINED; TOTAL AMOUNT: $5,000.00. jm
9/29/98: 3/09/84 EMPLOYMENT TERMINATION
TERMINATION TYPE: DISCHARGED; TERMINATION DATE: 03/09/84; ALLEGATIONS: STEIN
WAS FIRED FOR NON-DISCLOSURE OF HIS SUSPENSION FROM TRADING ON THE FLOOR OF
THE CBOE TO THE BOARD OF DIRECTORS OF THE BROKERAGE FIRM'S PARENT COMPANY;
FIRM NAME: FINANCIAL DISCOUNT BROKERAGE. lb.
9/29/98: 1/17/81 CBOE FINE
ACTION INITIATED BY: CHICAGO BOARD OPTIONS EXCHANGE; REGULATORY ACTION TYPE:
ADMINISTRATIVE; DATE INITIATED: 12/00/80; CASE/DOCKET NUMBER: 81-005;
ALLEGATIONS: FIGHTING ON TRADING FLOOR; HOW RESOLVED: FINE; RESOLUTION DATE:
01/17/81; SANCTION: FINE; TOTAL AMOUNT: $1,000.00; DATE PAID: NOT PROVIDED.
lb.
9/29/98: APR. 79 CBOE FINE
ACTION INITIATED BY: CHICAGO BOARD OPTIONS EXCHANGE; REGULATORY ACTION TYPE:
ADMINISTRATIVE; DATE INITIATED: 2/1979; CASE/DOCKET NUMBER: 79-0033;
ALLEGATIONS: ORDER TO BUY A CERTAIN CONTRACTS AS FLOOR BROKER ON 11/1/78 FOR A
BROKER DEALER ON THE OPENING AND SOLD 107 CONTRACTS TO HIS BROKER DEALER
ORDERS WITHOUT ANNOUNCING TO THE CROWD THAT THE ORDER WAS FOR BROKER DEALER
CUSTOMERS; HOW RESOLVED: OFFER OF SETTLEMENT; RESOLUTION DATE: 4/1979;
SANCTION: FINE; TOTAL AMOUNT: $250.
Tom
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