Two Registered Principals with NWT Financial Group, LLC, and based in Snoqualmie, WA, accepted fines and suspensions to settle FINRA charges they failed to review for suitability sales of hedge fund interests to investor.  Principal Niederkrome agreed to a $15K fine and a 6-month suspension as a principal;  Principal Rodgers was fined $5K and was suspended 60 days as a principal.

According to FINRA findings, Niederkrome authorized the sale of private securities - primarily hedge funds - to investors, but failed to
supervise the sales for suitability.  Nor did he review and retain monthly performance statements that were sent to hedge fund investors, as required by NASD Rule 3040. 

Both Niederkrome and Rodgers, as principals responsible for the review and approval of all new account applications, approved the opening of the accounts for prospective hedge fund investors without inquiring into whether the intended investment was actually suitable for them.  Both are currently serving their suspensions and are not associated with any FINRA member firm.  This is FINRA Case #2008016403302.   [March Disciplinary Actions]