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.

Sammie Bernard Taylor
AWC/2009018240401

Taylor received $11,000 from a customer purportedly for an investment in Taylor’s relative’s business; however, Taylor did not provide the customer with a written loan agreement, purchase agreement or any other documentation memorializing the transaction.

The customer gave Taylor a cashier’s check for $11,000, made payable to Taylor; Taylor negotiated the check and received $11,000 in cash from his financial institution. Only after his member firm confronted him did Taylor return the funds to the customer, thereby misusing the funds for several weeks.

Sammie Bernard Taylor: Fined $5,000; Suspended 6 months