another Salomon Grey alumnist EDGAR B ALACAN
NASD Registered Person: EDGAR B ALACAN
CRD Number: 2018041
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CURRENT EMPLOYMENT
Employing Firm: SALOMON GREY FINANCIAL CORPORATION
Firm CRD Number: 43413
Office of Employment address: 560 BROADWAY STE 402
NEW YORK, NY 10012
USA
Start Date: 09/19/2000 End Date: to present
Other Business
KENSINGTON PARTNERS LLC 560 BROADWAY, SUITE 402 NEW YORK, NY 10012 OWNER
CORPORATION USED TO PAY OPERATING EXPENSES FOR THE BROADWAY INDEPENDENT OSJ
OFFICE.
Employing Firm: J.W. BARCLAY & CO., INC.
Firm CRD Number:
Office of Employment address: NEW YORK, NY
Start Date: 04/1996 End Date: 09/2000
*************** PREVIOUS EMPLOYMENT (2 of 4) ***************
Employing Firm: SHAMUS GROUP, INC.
Firm CRD Number:
Office of Employment address: NEW YORK CITY, NY
Start Date: 01/1996 End Date: 03/1996
*************** PREVIOUS EMPLOYMENT (3 of 4) ***************
Employing Firm: BARINGTON CAPITAL GROUP, L.P.
Firm CRD Number:
Office of Employment address: NEW YORK CITY, NY
Start Date: 04/1994 End Date: 01/1996
*************** PREVIOUS EMPLOYMENT (4 of 4) ***************
Employing Firm: REICH & CO., INC.
Firm CRD Number:
Office of Employment address: ISELIN, NJ
Start Date: 03/1993 End Date: 04/1994
NASD Public Disclosure Program July 18, 2003 Page 4
This information is current as of: 07/18/2003
________________________________________________________________________________
NASD Registered Person: EDGAR B ALACAN
CRD Number: 2018041
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REGULATORY ACTIONS
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DISCLOSURE INFORMATION
******** REGULATORY ACTION (1 of 2) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 04/30/2002
Initiated By: UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Date initiated: 04/24/2002
Docket/
Case Number: SEC ADMIN FILE 3-10765/REL 33-8094
Employing Firm: J.W. BARCLAY & CO., INC.
Allegations: SEC ADMIN FILE NO. 3-10765, RELS. 33-8094, 34-45815, DATED
APRIL 24, 2002 - THE SEC FILED AN ORDER INSTITUTING PUBLIC
ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS PURSUANT TO
SECTION 8A OF THE SECURITIES ACT OF 1933 AND SECTIONS 21A AND
15(B) OF THE SECURITIES EXCHANGE ACT OF 1934 ("ORDER"),
AGAINST EDGAR B. ALACAN ("ALACAN"), WHO RESIDES IN STATEN
ISLAND, NEW YORK. IN THE ORDER, THE DIVISION OF ENFORCEMENT
("DIVISION") ALLEGES THAT THE REGISTERED REPRESENTATIVE
ENGAGED IN FRAUDULENT SALES PRACTICES IN THE ACCOUNTS OF
CUSTOMERS. ACCORDING TO THE DIVISION, BETWEEN JUNE 1997 AND
DECEMBER 1998, THE REGISTERED REPRESENTATIVE MADE UNAUTHORIZED
TRADES, MADE UNSUITABLE TRADES, MADE MATERIAL MISSTATEMENTS
AND OMITTED TO STATE MATERIAL FACTS CONCERNING STOCKS, CHURNED
NASD Public Disclosure Program July 18, 2003 Page 5
This information is current as of: 07/18/2003
________________________________________________________________________________
NASD Registered Person: EDGAR B ALACAN
CRD Number: 2018041
REGULATORY ACTIONS(cont.)
CUSTOMERS' ACCOUNTS AND FAILED TO EXECUTE SELL ORDERS OR OTHER
INSTRUCTIONS FROM CUSTOMERS. THE DIVISION FURTHER ALLEGES THAT
ALACAN, WILLFULLY VIOLATED SECTION 17(A) OF THE SECURITIES ACT
OF 1933 ("SECURITIES ACT"), AND SECTION 10(B) OF THE
SECURITIES EXCHANGE ACT OF 1934 ("EXCHANGE ACT") AND RULE
10B-5 PROMULGATED THEREUNDER.
Current Status: Pending
Summary: A HEARING WILL BE SCHEDULED BEFORE AN ADMINISTRATIVE LAW JUDGE
TO DETERMINE WHETHER THE ALLEGATIONS CONTAINED IN THE ORDER
ARE TRUE, TO PROVIDE ALACAN AN OPPORTUNITY TO DISPUTE THE
ALLEGATIONS AGAINST HIM, AND TO DETERMINE WHAT SANCTIONS, IF
ANY, ARE APPROPRIATE.
***********************************
Reporting Source: Broker (Form U-4)
Date Reported: 06/25/2002
Initiated By: UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Date initiated: 04/24/2002
Docket/
Case Number: SEC ADMIN FILE 3--10765/REL 33-8094
Employing Firm: J.W. BARCLAY AND CO., INC.
Allegations: SEC ADMIN FILE NO. 3-10765, RELS. 33-8094, 34-45815, DATED
4/24/02, THE SEC FILE AN ORDER INSTITUTING PUBLIC
ADMINISTRATIVE AND CEASE AND DESIST PROCEEDINGS PURSUANT TO
SECTION 8A OF THE SECURITIES ACT OF 1933 AND SECTIONS
PROCEEDINGS PURSUANT TO SECTIONS 21A AND 15B OF THE SECURITIES
EXCHANGE ACT OF 1934, AGAINST EDGAR ALACAN WHO RESIDES IN
STATEN ISLAND, NY. IN THE ORDER, THE DIVISION OF ENFORCEMENT
ALLEGES THAT THE REGISTERED REPRESENTATIVE ENGAGED IN
FRAUDULENT SALES PRACTICES IN THE ACCOUNTS OF CUSTOMERS.
ACCORDING TO THE DIVISION, BETWEEN JUNE 1997 AND DEC. 1998 THE
REGISTERED REP MADE UNAUTHORIZED TRADES, MADE UNSUITABLE
TRADES,MADE MATERIAL MISSTATEMENTS AND OMITTED TO STATE
MATERIAL FACTS CONCERNING STOCKS, CHURNED CUSTOMERS ACCOUNTS
AND FAILED TO EXECUTE SELL ORDERS OR OTHER INSTRUCTIONS FROM
CUSTOMERS. THE DIVISION FURTHER ALLEGES THAT ALACAN, WILLFULLY
VIOLATED SECTION 17A OF THE SECURITIES ACT OF 1933 AND SECTION
10B OF THE SECURITIES EXCHANGE ACT OF 1934 AND RUL 10B-5
PROMULGATED THEREUNDER.
Current Status: Pending
Summary: ON 4/24/02, THE SEC COMMENCED AN ADMINISTRATIVE PROCEEDING
AGAINST MYSELF AND OTHER BROKERS AT J.W. BARCLAY & CO.,INC. A
FORMER NASD MEMBER FIRM, ASSERTING THAT THE BROKERS AND I
ALLEGEDLY ENGAGED IN UNSUITABLE,EXCESSIVE AND UNAUTHORIZED
TRADING IN CERTAIN CUSTOMER ACCOUNTS. I GAVE TESTIMONY DURING
THE INVESTIGATIVE STAGE, ANSWERING ALL QUESTIONS AND NOT
ASSERTING MY FIFTH AMENDMENT RIGHT AGAINST SELF-INCRIMINATION.
AT THAT TIME, I VIGOROUSLY DENIED ANY WRONGDOING.IN MY ANSWER
FILED WITH THE ADMINISTRATIVE LAW JUDGE, I HAVE AGAIN DENIED
ANY WRONGDOING AND WILL AGGRESSIVELY DEFEND THESE CLAIMS.
THERE WILL BE A HEARING SCHEDULED BEFORE AN ADMINISTRATAIVE
LAW JUDGE TO DETERMINE WHETHER THE ALLEGATIONS CONTAINED IN
THE ORDER ARE TRUE,TO PROVIDE AN OPPORTUNITY TO DISPUTE THE
ALLEGATIONS AGAINST ALACAN AND TO DETERMINE WHAT SANCTIONS, IF
ANY, ARE APPROPRIATE. EDGAR ALACAN
******** REGULATORY ACTION (2 of 2) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 07/11/2001
Initiated By: UTAH DIVISION OF SECURITIES
Date initiated: 10/18/2000
Docket/
Case Number: SD-00-0089
Employing Firm: SALOMON GREY FINANCIAL CORPORATION
Allegations: FAILURE TO RESPOND TO DIVISION'S REQUEST FOR MORE INFORMATION
REGARDING DISCLOSURE HISTORY.
Current Status: Final
NASD Public Disclosure Program July 18, 2003 Page 6
This information is current as of: 07/18/2003
________________________________________________________________________________
NASD Registered Person: EDGAR B ALACAN
CRD Number: 2018041
REGULATORY ACTIONS(cont.)
Resolution: Order
Resolution Date: 10/18/2000
Sanctions
Ordered: Revocation/Expulsion
Resolution
Details: ORDER TO DENY
Summary: ON SEPTEMBER 28, 2000, DIVISION SENT LETTER REQUESTING THAT
AGENT EITHER PROVIDE MORE INFORMATION REGARDING HIS DISCLOSURE
HISTORY OR WITHDRAW HIS APPLICATION FOR REGISTRATION IN UTAH.
IF AGENT DID NEITHER, THE LETTER STATED THAT THE DIVISION
INTENDED TO DENY THE APPLICATION FOR REGISTRATION. THE
DIVISION RECEIVED NO RESPONSE TO ITS LETTER, THUS THE
APPLICATION WAS DENIED ON OCTOBER 18, 2000. FOR MORE
INFORMATION, PLEASE VISIT THE WEB SITE:
commerce.state.ut.us
=SD%2D00%2D0089
***********************************
Reporting Source: Broker (Form U-4)
Date Reported: 08/20/2001
Initiated By: UTAH DIVISION OF SECURITIES
Date initiated: 10/18/2000
Docket/
Case Number: SD-00-0089
Employing Firm: SALOMON GREY FINANACIAL CORPORATION
Allegations: FAILURE TO RESPOND TO DIVISION'S REQUEST FOR MORE INFORMATION
REGARDING DISCLOSURE HISTORY.
Current Status: Final
Resolution: Order
Resolution Date: 10/18/2000
Sanctions
Ordered: Revocation/Expulsion
Resolution
Details: ORDER TO DENY
Summary: I APOLOGIZE FOR NOT RESPONDING BUT I HAD JUST COME OVER TO A
NEW FIRM AND I WAS EXTREMELY BACKED UP WITH PAPERWORK
TRANSFERING CLIENT ACCOUNTS OVER AND FILING AN EXTREME AMOUNT
OF PAPERWORK AT THE SAME TIME MY WIFE WAS ILL AND IN THE
HOSPITAL. I OVERLOOKED THE DEADLINE FOR UTAH'S RESPONSE AND
WAS DENIED APPROVAL.
NASD Public Disclosure Program July 18, 2003 Page 7
This information is current as of: 07/18/2003
________________________________________________________________________________
NASD Registered Person: EDGAR B ALACAN
CRD Number: 2018041
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TERMINATIONS
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DISCLOSURE INFORMATION
*********** TERMINATION (1 of 2) ***********
Reporting Source: Broker (Form U-4)
Date Reported: 03/23/1993
Firm Name: PAUL TUCHMAN, SHEARSON LEHMAN BROS
Termination Type: Discharged
Termination Date: 02/03/1993
Allegations: Not Provided UNAUTHORIZED TRADE
Summary: Not Provided Not Provided
*********** TERMINATION (2 of 2) ***********
Reporting Source: Broker (Form U-4)
Date Reported: 04/14/1993
Firm Name: M.S. FARRELL & COMPANY, INC.
Termination Type: Discharged
Termination Date: 02/23/1993
Allegations: N/A VIOLATIONS OF M.S. FARRELL & CO., INC. RULES AND
REGULATIONS.
Summary: REPAYMENT OF DRAW $2,500.00. THE ALLEGATIONS AGAINST ME ARE
FALSE. M.S. FARRELL & CO., INC. DREW UP A VERY LUCRATIVE
CONTRACT TO KEEP ME IN THEIR ORGANIZATION. THEY ARE
DISGRUNTLED BY MY REFUSAL AND TERMINATION.
NASD Public Disclosure Program July 18, 2003 Page 8
This information is current as of: 07/18/2003
________________________________________________________________________________
NASD Registered Person: EDGAR B ALACAN
CRD Number: 2018041
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CUSTOMER COMPLAINTS
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DISCLOSURE INFORMATION
This section contains information regarding customer complaints that were
reported to CRD. These events are disclosable through the Public Disclosure
Program and include consumer-initiated, investment-related arbitration
proceedings or civil suits which contain allegations of sales practice
violations against the broker and are either pending, resulted in an award
against the broker, or were settled for $10,000 or more. Customer complaint
events also include consumer-initiated, investment-related complaints which
contain allegations of sales practice violations against the broker and which
were settled for $10,000 or more, as well as consumer-initiated,
investment-related written complaints filed within the past twenty-four months
which contain either allegations of sales practice violations and damages of
$5,000 or allegations of forgery, theft, or misappropriation of funds or
securities.
Some of the fields in this section of the report may be blank if the information
was not provided to CRD.
The customer complaints listed in this report may include allegations that have
been filed with a firm, an arbitration forum, or a court, but that have not
been verified or proven to be true. Therefore, you should not assume that all
allegations that may be contained in this report are true or will be proven to
be true. The NASD encourages you to discuss any concerns you may have with the
information contained in this report with your firm or broker, who can provide
you with any further information that you may require.
** OCCURRENCE COUNTS ** 8 Record(s)
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** FIELD DEFINITIONS **
* Reporting Source: The form through which details of the customer
complaint was reported to CRD.
* Date Reported: The date the customer complaint was reported to CRD.
* Date Received: Date the complaint was received at the firm or filed
as an arbitration or civil suit.
* Employing Firm: Firm where broker was employed when activity
occurred that led to the complaint.
* Allegations: Allegations made against the broker leading to the
customer complaint.
* Alleged Damages: Alleged dollar amount of compensatory damages sought
by the customer.
* Action Pending?: An indication (i.e., yes or no) as to whether the
complaint is still pending.
* Status: Status of complaint if not pending (e.g., closed,
resulted in no action taken, withdrawn, denied,
settled, resulted in an arbitration or litigation,
etc.).
* Resolution Date: Date associated with the status of the complaint.
Will be blank if complaint is still pending.
* Settlement Amount: The dollar amount the firm and/or individual broker
paid the customer to satisfy the claim.
* Individual ContributionThe dollar amount the indvidual broker contributed
to the settlement amount.
* Arbitration/Reparation The name of the self-regulatory organization/agency
where the claim was filed and the claim 's docket
case number.
* Service Date: The date the firm/individual broker received notice
of the claim or the date Service of Process for the
claim was received.
* Pending?: An indication (i.e., yes or no) as to whether the
claim is still pending.
* Monetary Compensation: The dollar amount the individual broker paid in
accordance with an arbitration/civil litigation
award, settlement, or reparation.
* Disposition: Details of the disposition of the arbitration,
reparation or litigation if status of the
complaint indicates either arbitration, reparation
or litigation.
NASD Public Disclosure Program July 18, 2003 Page 9
This information is current as of: 07/18/2003
________________________________________________________________________________
NASD Registered Person: EDGAR B ALACAN
CRD Number: 2018041
CUSTOMER COMPLAINTS(cont.)
* Disposition Date: The disposition date of the arbitration, reparation
or litigation.
* Summary: Details related to the circumstances of the
complaint.
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******** CUSTOMER COMPLAINT (1 of 8) ********
Reporting Source: Broker (Form U-4)
Date Reported: 02/12/2003
Date Received: 01/30/2001
Employing Firm: J W BARCLAY AND COMPANY
Allegations: COMMON LAW FRAUD, COMMON LAW BREACH OF CONTRACT AND NEGLIGENCE.
Alleged Damages: $70,000.00
Action Pending?: No
Resolution: Arbitration/Reparation
Resolution
Date: 09/19/2002
Arbitration/Reparation
Details: NASD NO. 01-00535
Service Date: 01/30/2001
Pending?: No
Disposition: Settled
Disposition
Date: 09/03/2002
Monetary Compensation
Amount: $35,000.00
Individual Contribution
Amount: $20,500.00
Disposition
Details:
******** CUSTOMER COMPLAINT (2 of 8) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 10/31/2002
Case Filed With: NASD
Date Initiated: 09/18/2001
Case Number: 01-04906
Employing Firm: SALOMON GREY FINANCIAL CORP.
Allegations: UNAUTHORIZED TRADING
Alleged Damages: $772,938.00
Pending?: No
Disposition: Award
Disposition
Date: 10/14/2002
Disposition
Details: RESPONDENT IS JOINTLY AND SEVERALLY LIABLE AND SHALL PAY TO
CLAIMANT $235,076.88
***********************************
Reporting Source: Broker (Form U-4)
NASD Public Disclosure Program July 18, 2003 Page 10
This information is current as of: 07/18/2003
________________________________________________________________________________
NASD Registered Person: EDGAR B ALACAN
CRD Number: 2018041
CUSTOMER COMPLAINTS(cont.)
Date Reported: 11/07/2002
Date Received: 09/26/2001
Employing Firm: SALOMON GREY FINANCIAL
Allegations: ALLEGING UNAUTHORIZED PURCHASE OF BROCADE COMMUNICATION SHARES
ON FEBRUARY 7, 2001.
Alleged Damages: $772,938.00
Action Pending?: No
Resolution: Arbitration/Reparation
Resolution
Date: 10/14/2002
Arbitration/Reparation
Details: NASD ARBITRATION CASE NUMBER 01-04906
Service Date: 09/18/2001
Pending?: No
Disposition: Award to Customer
Disposition
Date: 10/14/2002
Monetary Compensation
Amount: $235,076.88
Individual Contribution
Amount: $235,076.88
Disposition
Details: RESPONDENTS ARE JOINTLY AND SEVERALLY LIABLE FOR AND SHALL PAY
TO CLAIMANT THE SUM OF $235,076.88 AS COMPENSATORY DAMAGES.
******** CUSTOMER COMPLAINT (3 of 8) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 07/02/2001
Case Filed With: NASD
Date Initiated: 03/22/2001
Case Number: 00-01470
Employing Firm: J.W. BARCLAY & CO., INC.
Allegations: >07/02/01 CHURNING, UNSUITABILITY, UNAUTHORIZED TRADING, BRECH
OF FIDUCIARY DUTY, FRAUD, NEGLIGENCE, BREACH OF CONTRACT
Alleged Damages: $500,000.00
Pending?: No
Disposition: Dismissed
Disposition
Date: 02/07/2001
Disposition
Details: STIPULATION OF DISMISSAL OF ALL CLAIMS AGAINST RESPONDENT
WITHOUT PREJUDICE.
***********************************
Reporting Source: Broker (Form U-4)
Date Reported: 07/27/2001
Date Received: 04/15/2000
Employing Firm: J W BARCLAY
Allegations: CUSTOMER ALLEGED IN 2000 THAT INVESTMENTS MADE DURING 1997 &
1998 WERE UNSUITABLE.
Alleged Damages: $1,000,000.00
Action Pending?: No
NASD Public Disclosure Program July 18, 2003 Page 11
This information is current as of: 07/18/2003
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