NASD Member Firm: SIERRA BROKERAGE SERVICES, INC.
CRD Number: 36573
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REPORT SUMMARY
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Administrative Information:
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Admin Information: Information that is required to be reported to the NASD by
firms via Form BD (Uniform Application for Broker-Dealer
Registration). The administrative information contained in
this report includes: (a) types of business the firm is
engaged in; (b) legal status (e.g., corporation, partnership,
sole proprietorship, limited liability company, etc.),
state/country of formation unless legal status is sole
proprietorship, date of formation, and month in which the
firm's fiscal year ends; and (c) all approved registrations
with the SEC, NASD and state securities commissions.
Types of Business: 9
Legal Status: 1
Registrations: 13
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Disclosure Events: Yes
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Disclosure Event: Information that is required to be reported to the NASD by
brokers via Form U-4 (Uniform Application for Securities
Industry Registration or Transfer) and firms via Form BD
(Uniform Application for Broker-Dealer Registration). Some
disclosure events may have multiple reporting sources. For
example, some information required to be reported by a broker
via Form U-4 may also be reported on the broker's record by a
firm via Form U-5 (Uniform Termination Notice for Securities
Industry Registration) and/or by a regulator via Form U-6
(Uniform Disciplinary Action Reporting Form). If a disclosure
event is reported by multiple sources, all versions of the
reported event will be disclosed on the broker's public
disclosure report. Similarly, some information required to be
reported by a broker-dealer firm via Form BD may also be
reported on the firm's record via Form U-6. If a disclosure
event is reported by multiple sources, all versions of the
reported event will be disclosed on the firm's public
disclosure report.
Criminal Actions: 0
Regulatory Actions: 3
Civil Judicial Actions: 0
Arbitrations: 0
Bonds: 0
Bankruptcies: 0
Judgment/Liens: 0
NASDR Public Disclosure Program January 04, 2001 Page 2
This information is current as of: 01/04/2001
________________________________________________________________________________
NASD Member Firm: SIERRA BROKERAGE SERVICES, INC.
CRD Number: 36573
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ADDRESS/GENERAL INFORMATION
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This section provides the firm's name, CRD number, SEC number, Applicant Name on
Form BD, NASD District where the firm is located, and the firm's main and
mailing addresses.
Applicant Name on Form BD: SIERRA BROKERAGE SERVICES, INC.
SEC Number: 8-047414
Business Phone Number: 614-442-9400
Main Office Address Located in NASD District: 8-Cleveland
CROWN POINT OFFICE PARK
2000 BETHEL ROAD SUITE D
COLUMBUS, OH 43220-5810
Mailing Address
2000 BETHEL RD.
CROWN POINT OFF. PK.
COLUMBUS, OH 43220
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TYPES OF BUSINESS
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This section lists the type(s) of business that the firm is currently engaged in
as reported on the Form BD.
Broker or dealer making inter-dealer markets in corporate securities
over-the-counter
Broker or dealer retailing corporate equity securities over-the-counter
Broker or dealer selling corporate debt securities
Mutual fund retailer
Non-exchange member arranging for transactions in listed securities by exchange
member
Private placements of securities
Put and call broker or dealer or option writer
Trading securities for own account
Underwriter or selling group participant (corporate securities other than mutual
funds)
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LEGAL STATUS
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This section details the firm's legal status (i.e, corporation, limited
partnership, etc.), state or country where formed, date of formation, and the
month the firm's fiscal year ends.
Legal Status: CORPORATION
State/Country of Formation: OH
Date of Formation: 05/11/1994
Fiscal Year End: JUN
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REGISTRATIONS
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This section provides the jurisdictions in which the firm is registered or
licensed to do business, the category of each registration, and the date on
which the registration was granted.
Jurisdiction/SRO Category Status As Of Date
AZ Broker Dealer Approved 03/28/1996
CA Broker Dealer Approved 06/19/1997
CO Broker Dealer Approved 10/30/1998
FL Broker Dealer Approved 05/03/1995
IL Broker Dealer Approved 11/04/1997
NASD Broker Dealer Approved 09/14/1994
NJ Broker Dealer Approved 12/01/1997
NV Broker Dealer Approved 01/06/2000
NY Broker Dealer Approved 02/06/1998
OH Broker Dealer Approved 08/15/1994
SEC Broker Dealer Approved 09/14/1994
TX Broker Dealer Approved 09/27/1996
UT Broker Dealer Approved 03/14/1996
NASDR Public Disclosure Program January 04, 2001 Page 3
This information is current as of: 01/04/2001
________________________________________________________________________________
NASD Member Firm: SIERRA BROKERAGE SERVICES, INC.
CRD Number: 36573
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REGULATORY ACTIONS
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DISCLOSURE INFORMATION
This section lists regulatory actions that were reported to the CRD and are
disclosable through the Public Disclosure Program. Disclosable regulatory
actions include formal proceedings initiated by a regulatory authority (i.e., a
state securities agency, the NASD, New York Stock Exchange, foreign regulatory
body, etc.) for a violation of investment-related rules or regulations. In
addition, revocations or suspensions of a broker's authority to act as an
attorney, accountant or federal contractor will appear here.
Some of the fields in this section of the report may be blank if the information
was not provided to CRD.
** OCCURRENCE COUNTS ** 3 Record(s)
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** FIELD DEFINITIONS **
* Reporting Source: The form through which details of the regulatory
action was reported to CRD.
* Date Reported: The date the regulatory action was reported to CRD.
* Initiated By: The name of the securities regulator that initiated
the regulatory action (e.g., regulator, foreign
financial regulatory authority, self-regulatory
organization, federal agency such as SEC, state,
etc.).
* Date Initiated: Date the regulatory action was initiated.
* Docket/Case Number: Docket or case number of the regulatory action.
* Employing Firm: Firm where broker was employed when activity
occurred that led to the regulatory action.
* Allegations: Allegations made against the broker leading to the
regulatory action.
* Current Status: The current status of the regulatory action (i.e.,
pending, on appeal or final).
* Resolution: The resolution of the regulatory action (e.g.,
acceptance, waiver and consent; decision; decision
and order of offer of settlement; order; settled;
etc.).
* Resolution Date: The date the regulatory action was resolved.
* Sanction Details: Additional details regarding any sanctions ordered.
* Summary: A summary of the details related to the regulatory
action.
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******** REGULATORY ACTION (1 of 3) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 06/20/2000
Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS
Date initiated: 06/08/2000
Docket/
Case Number: C8A000036
Allegations: 06/20/00GS: NASD RULES 2110, 3010 AND 6620 ACT VIOLATIONS -
REPORTED TRANSACTIONS TO THE AUTOMATED CONFIRMATION
TRANSACTION SERVICES IN VIOLATION OF APPLICABLE SECURITIES
LAWS AND REGULATIONS REGARDING TRADE REPORTING, AND FAILED TO
ESTABLISH, MAINTAIN, AND ENFORCE WRITTEN PROCEDURES REASONABLY
DESIGNED TO ACHIEVE COMPLIANCE WITH APPLICABLE SECURITIES
LAWS AND REGULATIONS REGARDING TRADING AND MARKET MAKING
ACTIVITIES TO PREVENT THE OCCURRENCE OF SUCH VIOLATIONS.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 06/08/2000
NASDR Public Disclosure Program January 04, 2001 Page 4
This information is current as of: 01/04/2001
________________________________________________________________________________
NASD Member Firm: SIERRA BROKERAGE SERVICES, INC.
CRD Number: 36573
REGULATORY ACTIONS(cont.)
Sanctions
Ordered: Monetary/Fine, Censure
Monetary Amount: $15,000.00
Resolution
Details: CENSURED AND FINED $15,000, OF WHICH $5,000 SHALL BE JLINTLY
AND SEVERALLY WITH AN INDIVIDUAL.
Summary:
******** REGULATORY ACTION (2 of 3) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 10/31/1997
Initiated By: ILLINOIS SECURITIES DEPARTMENT
Date initiated: 10/31/1997
Docket/
Case Number: 9700728
Allegations: UNREGISTERED DEALER ACTIVITY
Current Status: Pending
Summary: 217-785-4948 CONTACT: 217-785-4948
******** REGULATORY ACTION (3 of 3) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 11/19/1998
Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
Date initiated: 11/19/1998
Docket/
Case Number: C8B980040
Allegations:
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 11/19/1998
Sanctions
Ordered: Monetary/Fine, Censure
Monetary Amount: $2,500.00
Resolution
Details:
Summary: ON NOVEMBER 19, 1998, DISTRICT NO. 8 NOTIFIED RESPONDENTS
SIERRA BROKERAGE SERVICES, INC. AND JOHN C. MCCAMEY THAT THE
LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. C8B980040 WAS
ACCEPTED; THEREFORE, THEY ARE CENSURED AND FINED $2,500,
JOINTLY AND SEVERALLY, AND RESPONDENT MEMBER IS FINED AN
ADDITIONAL $2,500 - (NASD RULES 1120 AND 2110 - RESPONDENT
MEMBER FAILED TO COMPLY WITH NASD RULE 6550 IN THAT VIOLATED
OTC BULLETIN BOARD TRANSACTION REPORTING REQUIREMENTS; FAILED
TO COMPLY WITH NASD RULE 6420 IN THAT IT FAILED TO REPORT
CORRECT CAPACITY IDENTIFICATION ON THIRD MARKET (CQS)
TRANSACTIONS; AND, RESPONDENT MEMBER, ACTING THROUGH
RESPONDENT MCCAMEY, FAILED TO DEVELOP OR IMPLEMENT A WRITTEN
TRAINING PLAN AND FAILED TO MAINTAIN RECORD EVIDENCING
ADMINISTRATION OF THE FIRM ELEMENT OF THE CONTINUING EDUCATION
REQUIREMENTS). ****** $2,500 PAID ON 1/13/99, INVOICE NO.
98-8B-987 ***** $2,500 PAID, J&S ON 1/13/99, INVOICE NO.
98-8B-988 ****
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Reporting Source: Regulator (Form BD)
NASDR Public Disclosure Program January 04, 2001 Page 5
This information is current as of: 01/04/2001
________________________________________________________________________________
NASD Member Firm: SIERRA BROKERAGE SERVICES, INC.
CRD Number: 36573
REGULATORY ACTIONS(cont.)
Date Reported:
Initiated By: NATIONAL ASSOCIATION OF SECURITIES DEALERS REGULATION, INC.
Date initiated: 09/28/1998
Docket/
Case Number: C8B980040
Allegations: FINDINGS OF VIOLATION OF NASD RULES 6550, 6420, AND 1120, AND
CONDUCT RULE 2110 AS A RESULT OF A ROUTINE AUDIT.
Current Status: Final
Resolution: Acceptance, Waiver & Consent(AWC)
Resolution Date: 11/19/1998
Sanctions
Ordered: Monetary/Fine
Monetary Amount: $5,000.00
Resolution
Details: SANCTIONS AGAINST THE FIRM, CENSURE AND $ 2,500 FINE, AND
AGAINST THE FIRM AND JOHN C. MCCAMEY, CENSURES AND A $ 2,500
JOINT AND SEVERAL FINE. PAID IN FULL NOVEMBER, 1998.
Summary: PRIMARILY VIOLATIONS OF TRANSACTION REPORTING REQUIREMENTS AND
CONTINUING EDUCATION REQUIREMENTS.
************ END OF REPORT ************ |
