The right of Thomas E. Omark of Erie, Pa., to use the mark was revoked after he exercised unauthorized discretion in customer accounts, falsely marked customer order tickets as solicited, and solicited the purchase of company stock against his employer’s policy.
Mikeal A. Alligood of Fort Worth, Texas, lost his right to use the mark after he was convicted of a misdemeanor DWI and disorderly conduct misdemeanor and failed to report the matters to the CFP Board.
Jason K. Feinglas of Sunnyvale, Texas, lost his right to use the designation after he falsely indicated on his firm’s forms that he had spoken with a customer about wire transfers when he had not done so, failed to obtain verbal confirmation from a customer before submitting four wire transfers for processing, and failed to notify the CFP Board in writing about a suspension and fine by Finra.
Tye C. Williams of Frisco, Texas, can no longer use the CFP mark after he failed to cooperate with Finra and continued to use the CFP mark for at least six months after the CFP Board issued an interim order suspending his use of the marks.
Edward S. Gay of Mechanicsville, Va., had his right to use the mark revoked after he signed his name as the soliciting registered representative on two variable annuity applications for a customer he had never met, then shared the commissions with the actual soliciting agent, an unregistered individual.
The right of Christopher D. Kline of Prairie Du Sac, Wis., to use the mark was revoked after he falsely represented to customers that the collateralized mortgage obligations he recommended were safe, government-backed bonds, with little to no risk to principal, and failed to tell his customers that the investments were highly risky securities that could be subject to dramatic changes in maturity, cash flow and liquidity as a result of relatively minor changes in interest rates. He also failed to disclose the additional risks associated with the use of margin.
The board imposed other disciplinary actions as well.
The right of Brian K. Case of Longmeadow, Mass., to use the CFP mark was suspended for three months after he reached a settlement with the board. He had inflated values for investments in two private funds that his firm advised and included the inflated values in his firm’s ADV.
Peggy Jo Rouillier of Nashville, Tenn., was issued a letter of admonition after she reached a settlement with the board for signing customers’ names on forms and then submitted the forms to the customers’ annuity carrier for processing.