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To: Tim Lento who wrote (1529)	4/24/2014 12:53:44 PM
From: StockDung	Respond to of 1589

Gerald Nelson Kieft, II (CRD #2315539, Registered Principal, Carlisle, Pennsylvania) submitted a Letter of Acceptance, Waiver, and Consent in which he was fined $10,000 and suspended from association with any NASD member in any capacity for 30 days. The fine must be paid before Kieft reassociates with any NASD member following the suspension or before requesting relief from any statutory disqualification. Without admitting or denying the allegations, Kieft consented to the described sanctions and to the entry of findings that he prepared a Web site for an investment advisory firm he formed for the purpose of distributing research reports to investors and brokers, and it contained numerous references to his member firm and its brokerage services that presented exaggerated and unbalanced statements. NASD also found that Kieft prepared a research report on a company, which was released on the Web site, that was unbalanced and misleading because it failed to mention the company’s auditors’ reservations about the company’s ability to survive as a going concern. In addition, NASD found that Kieft purchased and sold shares of securities in the discretionary accounts of public customers during a period beginning 30 days before and ending five days after the publication of a research report on the company. Kieft’s suspension began May 17, 2004, and concluded at the close of business June 15, 2004. (NASD Case #CAF040029)