Daniel Terry Fischer, of New York, New York, a stockbroker registered with Four Points Capital Partners LLC, was fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that he engaged in the unauthorized discretionary trading in customer accounts. Letter of Acceptance, Waiver and Consent, No. 2015048283901 (July 19, 2016).
According to the AWC, from May of 2013 through May of 2015, at a time when Fischer was associated with Four Points Capital Partners LLC, he had traded without proper discretion in five of the firm’s customer accounts.
Apparently, Fischer had engaged in such discretion even though he did not gain the proper written authorization from such clients prior to doing so. The AWC further stated that the firm had not deemed the accounts that Fischer traded in to be discretionary. FINRA found that Fischer’s conduct constituted violations of FINRA Rules 2010 and NASD Conduct Rule 2510.
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