NEW YORK STOCK EXCHANGE, INC. 

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A Stipulation of Facts and Consent to Penalty is submitted by the Respondent without admitting or deny guilt, but merely consenting to findings by the Hearing Panel.

Unregistered branch cashier deposited checks into her personal security account knowing she had insufficient funds to cover them.  She then failed to properly debit such NSF checks.  

Censure and 3-year bar

Connell submitted a Stipulation of Facts and Consent to Penalty to the NYSE, which was accepted by the Hearing Panel as set forth below.

During 1988, Connell, an unregistered cashier with UBS PaineWebber, deposited eight personal checks totalling $2,580 into her personal securities account at UBSPW.  Purportedly, she knew at that time that her checking account had insufficient funds to cover the checks, which were subsequently returned NSF.  As her branch's cashier she improperly delayed or failed to debit the amounts of the NSF checks.  Upon discovery of her misconduct, Connell resigned and UBSPW filed a Form RE-3.  Connell is currently on a payment plan to reimburse UBSPW for the NSF checks.

Following efforts by the NYSE to investigate her conduct, Connell did not timely provide requested information and documents and was charged with failure to cooperate.  She subsequently complied.  

The Hearing Panel imposed a Censure, three year bar in any capacity.

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