Expert Witness in Areas of:
Sales Practice Supervision, including Suitability, Failure to Supervise, Unauthorized Trading.
Disputes between clients and investment firms.
Rules and regulations of the securities industry.
Disputes between brokers and their firms.
Generally accepted industry practices.
18 years of exceptionally broad administrative and securities experience moving through the ranks from Registered Sales Assistant to Vice President.
Extensive experience in compliance, client complaints, litigation management, budgeting, cost control, training and monitoring Financial Consultant performance.
Proven ability to establish and maintain successful relationships from the most senior ranks down to hands-on level.
Experience with Arbitration process as Corporate Representative and witness.
NASD Arbitrator for resolution of securities disputes.
Saint Mary’s College, Notre Dame, IN
BA in Philosophy, Japanese and Mathematics, 1979
Graduated Cum Laude
These licenses were active from various points in time beginning in January 1984 to February 2002.
Series 3: Commodity License - licensed to sell and supervise sales practices of Registered commodity brokers.
Series 7: Securities Registered Representative - licensed to transact securities business.
Series 8: Securities Sales Supervisor - licensed to supervise sales practices of Registered stock brokers.
Series 63: Uniform State Securities Exam - required state examination for Securities Registered Representatives.
Series 65: Investment Advisor Registration - licensed to represent Registered Investment Advisors.
Securities Consultant, (February 2000 to present)
Arbitrator for the NASD.
Franchise storefront for Check Cashing, (February 2000 to present)
Merrill Lynch (November 1982 to February 2000)
Vice President, Administrative Manager, Dallas, TX (September 1992 to February 2000)
Responsible for compliance of parent and associate offices relative to all laws and regulations of the securities industry regulatory agencies and firm policy. Provide support, and advice to the Resident Vice President, Branch Manager as a senior staff member. Discharge a wide variety of delegated business and administrative objectives related to the overall management and supervision of parent and associate offices. Supervise 45 to 65 brokers and approximate annual revenues of $35,000,000.
Accountable for all supervisory compliance functions, and litigation management.
Manage and resolve client complaints and legal issues.
Develop annual budgets, exercise cost control and monitor business objectives.
Organize and execute product and service promotions and monitor their progress.
Coordinate office facilities and communication needs.
Administrative Manager, Amarillo, TX (June 1990 to September 1992)
Assistant to Resident Vice President, Fort Worth, TX (May 1984 to June 1990)
Assistant to Sales Manager
Client Service Representative
Registered Sales Assistant, San Francisco, CA (November 1982 to May 1984)
Sales Practice Supervision Responsibilities:
Daily review of all trades transacted in complex offices.
Review and approve all trades requiring manager approval.
Review mutual fund transactions for improper switching or break point violations.
Review and approve all offshore mutual fund activity.
Monthly review of complex offices Active Accounts.
Request brokers conduct review of specific Active Accounts.
Contact client to ensure client understanding and suitability for trading activity.
Review and coordinate with Home office compliance department for any compliance and or legal issue.
Responsible for annual contact with clients maintaining Discretionary Accounts.
As Branch Manager, review and approve all new accounts.
Correspond with member firms regarding their employee accounts maintained away from their firm.
Review and approve market and non-market trade corrections.
Office expert on regulatory rules and firm policy.
Work with Office of General Counsel to obtain exceptions to firm policy.
Review and approve Option Agreements.
Monthly review of all Option Account profit and loss and trading activity.
Review and approve any over limit Naked Option requests.
Handle client complaints. Resolve and or settle complaints. Responsible for all documentation of complaints and necessary filings to Home Office.
Handle any complaint escalating into a legal matter by advising, consulting and supporting in-house and outside counsel.
Responsible for managing litigation involving employment issues, brokers moving to competing firms, and any terminated employee disputes.
Responsible for timely and effective regulatory and state required registrations of all registered office personnel.
Review amended U4 language on broker registrations caused by customer complaints or broker conduct.
Review and approve all sales related outgoing correspondence.
Review all incoming correspondence.
Review all incoming and outgoing facsimiles.
Conduct firm required review of Electronic mail generated to and from the office.
Review and approve all purchases of fee based products for client suitability.
Review and approve annuity purchases and 1035 exchanges.
Ongoing supervision of sales practice related matters for insurance sales.
Responsible for conducting biannual compliance office meetings and discussion on money laundering issues.
Review employee accounts for any potential problems, over trading personal account, large cash transactions.
Ensure compliance with Free Riding and Withholding Rule of Initial Public Offering stock.
Review and approve client generated Federal Fund wire transfer requests.
Review and approve issuance of Certified Checks.
Conduct annual survey and approval of any outside interests employees may have.
Review and accept responsibility for office approved exceptions.
Responsible for office Compliance status through out the year and during Annual Audit.
Acted as Branch Office Manager when needed.
SIA Securities Industry Association Compliance and Legal Division
Panel member for Problem Solving in the Firm Seminar.
SIA Compliance and Legal Division Conference, Dallas, Texas, August 8, 1996.
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