NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.

Bernard Robert Markowitz (Principal)
AWC/2009021131201

Markowitz effected transactions in a customer’s account without the customer’s prior knowledge, authorization or consent. The customer verbally complained to Markowitz about the amount of commissions charged in her account, and Markowitz subsequently attempted to settle the verbal complaint by providing the customer with a $1,500 check to compensate her for the commissions that had been charged in her account. Markowitz did not notify his firm of the customer’s verbal complaint or that he had given her a $1,500 check in an attempt to settle the customer’s verbal complaint.

Bernard Robert Markowitz (Principal): Barred