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.

Benedict Patrick Tommasino (Supervisor)
AWC/2007011878502

Tommasino 

• caused his member firm to 
  • maintain and preserve inaccurate books and records in violation of Section 17(a) of the Exchange Act and SEC Rules 17a-3 and 17a-4 thereunder, and NASD Rules 2110 and 3110; 
  • aid and abet a violation of Section 15(a)(1) of the Securities Exchange Act of 1934 by permitting a person not registered as a broker-dealer, who had been barred from the securities industry, to perform duties that required registration; and
  • to violate New York Stock Exchange (NYSE) Rule 345(a) by permitting a person who was not registered with, qualified by or acceptable to the Exchange, to regularly perform the duties customarily performed by a securities lending representative. 
• agreed to pay and caused transaction-based compensation to be transmitted to a non-registered person who had been barred from the securities industry, 
• failed to disclose to his firm that he had agreed to pay and caused transaction based compensation to be transmitted to a non-registered person who had been barred from the securities industry, and 
• failed to disclose to his member firm that he had agreed to pay and caused transaction-based compensation to be transmitted to a finder. 

Benedict Patrick Tommasino (Supervisor): Fined $30,000; Suspended 20 months with a consecutive 2 month suspension in Principal capacities only.