Candice Elaine Montie (also known as Candice Elaine Siekierski) of Fenton Michigan a stockbroker currently registered with Moloney Securities Co. Inc. has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on findings that Montie engaged in private securities transactions during the period that she was associated with Moloney Securities Co. Letter of Acceptance Waiver and Consent No. 2019064819501 (Mar. 31, 2021).
According to the AWC, between April of 2018 and June of 2018, Montie engaged in private securities transactions which involved four investors purchasing L bonds issued by GWG Holdings Inc. The AWC stated that $150,000.00 in funds had been collectively invested by the four individuals. Their purchases were not made through Moloney Securities but instead through a different securities broker dealer in which Montie maintained no association or affiliation.
The AWC stated that Montie took part in these transactions through helping investors complete the necessary paperwork to purchase the bonds. This included new account applications and subscription agreements. The stockbroker also procured customers’ signatures for the documents. Montie was handed checks from each of those four investors to buy the L bonds. She then submitted all of the documentation to either GWG Holdings or the outside securities broker dealer to consummate those purchases.
Montie engaged in these transactions without first telling Moloney Securities and obtaining its permission. She violated FINRA Rules 2010 and 3280 for this reason.
Montie has been registered with Moloney Securities since November 22, 2013.
