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Jeffrey L. Scheibner, of Irvine, California, a registered representative formerly associated with Accelerated Capital Group, has been fined $5,000.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts without authorization. Letter of Acceptance, Waiver and Consent, No. 2016051534901 (Apr. 28, 2017).

According to the AWC, from August 24, 2015, to September 16, 2015, a total of three-hundred and three mutual fund exchange transactions were effected by Scheibner in the accounts of twenty-seven of the firm’s customers. Apparently, Scheibner exchanged the customers’ mutual fund holdings into money market vehicles, even though customers had never authorized Scheibner to place the trades. The AWC stated that Scheibner was not authorized to exercise discretion in the firm’s customer accounts. Consequently, Scheibner’s unauthorized trading was found by FINRA to be violative of FINRA Rule 2010.

Scheibner’s registration with Accelerated Capital Group was terminated on August 12, 2016. Since August 9, 2016, he has been registered with Capital Synergy Partners.

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