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.

Holly Ann Gunnette
OS/2006004943101

Gunnette took more than $925,000 from investment accounts owned by an elderly customer at her member firm and converted the funds to her personal use. Gunnette caused her personal residence to be reflected as the address of record for certain investment accounts of the elderly customer, and established an account for the customer at another member firm, using her personal residence address as the account’s address of record. Gunnette received checks drawn on the customer’s accounts totaling approximately $925,513.28 and deposited the checks into bank accounts she owned or controlled. Gunnette failed to observe high standard of commercial honor and just and equitable principles of trade. Gunnette caused her firm’s and another firm’s records to be falsified by changing the customer’s address of record with her firm to her personal residence address, and by designating her address as the customer’s address of record on the other firm’s account she opened for the customer.

Holly Ann Gunnette : Barred

Tags: Checks  Elderly