Donald Lee Bergeron, of Charlotte, North Carolina, a stockbroker formerly registered with Capital Guardian, LLC, has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he placed unauthorized trades in a customer’s account. Letter of Acceptance, Waiver and Consent, No. 2016051447001 (July 20, 2017).
According to the AWC, in June of 2016, Bergeron placed trades in customer RM’s investment account even though the customer failed to provide him with authorization in writing beforehand. Apparently, twenty-four transactions were placed by Bergeron in the customer’s account from June of 2016 to September of 2016. Consequently, Bergeron’s conduct was found by FINRA to be violative of FINRA Rule 2010 and NASD Conduct Rule 2510.
Bergeron was fired by Capital Guardian LLC on September 9, 2016, based upon allegations that he exercised discretion in a customer’s investment account. Bergeron was also terminated by his previous employer, Merrill Lynch, on March 19, 2009, based upon allegations that he placed unauthorized trades in a customer’s investment account.
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