More "tales from the crypt" about persons who violated FINRA rules and firm policies regarding O/S business activities.   For complete reads, click onto:   [FINRA Disciplinary Actions for December]

    1.  Registered Rep Beggs, Crown Point, IN, agreed to a $5K fine and 20-day suspension, to settle FINRA charges he engaged in outside business ("O/S Bus.") activities on behalf of an insurance company not affiliated with his firm and engaged in sales to customers of indexed deferred annuities involving a total principal investment of $112,000, - he earned $10,080 in commissions.  Beggs failed to provide his firm with prompt written notice.  (FINRA Case #2009018374401)

    2.  Registered Rep Kopp, New York, NY, agreed to a $5K fine and 20-day suspension, to settle FINRA charges he engaged in an undisclosed outside business activity - working with others, he took steps to establish a business whose apparent purpose was to provide investment banking-related services to Chinese companies seeking access to the U.S. capital markets.  Provided no prompt written notice to firm.  (FINRA Case #2008015308201)

2A.  Registered Principal Li Kopp (aka Sabrina Kopp, Li Guo, Sabrina Guo), Beijing, China, agreed to a $7.5K fine and 6-month suspension, to settle FINRA charges she worked on the IB-project along with RR Kopp, above, and others.  (FINRA Case #2008015308001)

    3.  Registered Principal Leary, North Andover, MA, agreed to a $5K fine and 10-day suspension, to settle FINRA charges he engaged in O/S/ Bus. activities, for compensation, without providing prompt written notice to his member firm.  (FINRA Case #2009017279601)

    4.  Registered Rep Schaefer, Waterloo, IL, agreed to a $5K fine and 4-month suspension, to settle FINRA charges that he he sold annuities to customers, including firm customers, and did not sell or process the transactions through his firm and did not provide written notice to firm of his intention to engage in O/S/ Bus. activities.  He did this, knowing that his firm had changed its policy, which required that all equity indexed annuity business be sold and processed through the firm, and that RR's were only to sell specific annuities offered by firm-approved annuity companies. Schaefer did about $1.9 million in sales, for which he earned about $93K.  Finally, Schaefer falsely completed firm's annual questionnaire, saying he didn't offer nor sell equity indexed annuities to his clients.   (FINRA Case #2008012636401)