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.

Andy Young Lee
AWC/2008015985601

Lee opened a brokerage account at another member firm without providing written notice to his firm prior to opening the account, and placed hundreds of trades in the outside account without disclosing that trading activity to his firm. Lee failed to provide notice to the firm providing the account of his association with his firm. When Lee became associated with another member firm, he failed to disclose the fact to the member firms at which he maintained brokerage accounts.

Andy Young Lee : Fiend $10,000; Suspended 30 days

Tags: Away Accounts