Howard Raymond Utz of Mars Pennsylvania a stockbroker formerly registered with Hazard Siegel Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA’s investigation into allegations of his conversion of a customer’s funds. Letter of Acceptance Waiver and Consent No. 20180587198-01 (Sept. 7, 2018).
According to the AWC, on July 6, 2018, FINRA personnel send Utz a request for his information and documentation, according to Rule 8210, in reference to the accusations of Utz’s misconduct as cited by Hazard & Siegel Inc. Particularly, on June 1, 2018, just a couple months prior to FINRA’s request, Utz was discharged by the firm based upon allegations that Utz neglected to inform the firm about private securities transactions and outside business activities. The firm additionally alleged that Utz took checks from a customer which were made payable to Utz that Utz later converted.
Utz’s counsel apparently corresponded with FINRA personnel on July 31, 2018, to indicate that Utz understood the nature of FINRA’s request for information and documentation. Counsel for Utz informed FINRA that Utz would not be cooperating in the investigation. FINRA found Utz’s refusal to hand over information and documentation to be violative of FINRA Rules 2010 and 8210.
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