[ by Howard Haykin ]                                                         

It comes but once a month.  The Firms, the Individuals who signed off on AWCs (Acceptances, Waivers and Consents) to settle FINRA charges for alleged securities violations.  The Month of May offers another bumper crop of respondents who allegedly violated FINRA rules, federal securities laws, rules and regulations, and rules of the Municipal Securities Rulemaking Board (MSRB).

The Monthly publication starts off with Goldman, Lass Securities:

Goldman, Lass Securities (CRD® #2029, Yonkers, New York) and Barry Sheldon Lass (CRD #303177, Registered Principal, Dobbs Ferry, New York) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $10,000 and required to retain an independent consultant to conduct a comprehensive review of the adequacy of the firm’s policies, systems and procedures (written and otherwise) relating to the violations cited below, and conduct a follow-up review one year later. After each review, Lass must certify to FINRA in writing that the consultant has confirmed that the firm has addressed the rule violations and has systems and procedures in place to achieve compliance with the rules referenced in the AWC. FINRA imposed a lower fine after it considered, among other things, the firm’s revenues and financial resources. Lass was fined $7,500 and suspended from association with any FINRA member in any principal capacity for 30 days …….

To access FINRA Sanctions for the Month, go to:   [ FINRA Disciplinary Actions for May 2013 ].