Ronald William Weimer, of St. Joseph, Michigan, a stockbroker formerly registered with J.J.B. Hilliard, W.L. Lyons, 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 borrowed funds despite lacking authorization from the firm. Letter of Acceptance, Waiver and Consent, No. 2016052117801 (July 27, 2017).
According to the AWC, funds of customer RD had been borrowed by Weimer in April of 2014, during a time that Weimer was not allowed to have engaged in the loan arrangement. Particularly, the firm’s policies and procedures disallowed funds from being borrowed unless the firm provided Weimer with authorization prior to him effecting any transactions. Weimer was terminated by his firm as a result. FINRA found that Weimer’s conduct was violative of FINRA Rule 2010 and 3240.
Moreover, Weimer was subject of a Stipulation and Order Approving Conditional Registration issued by the State of Michigan Corporations, Securities & Commercial Licensing Bureau, wherein Weimer was required to undergo compliance activities to maintain his registration in the state based upon allegations of him having previously committed unethical or dishonest investment practices. Case No. 331873 (May 5, 2017).
Since January 5, 2017, he has been registered with Cantella & Co., Inc.
Guiliano Law Group
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