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.

Michael Julius Resnick (Principal)
AWC/2008012530901

While associated with a member firm, Resnik contacted former member firm clients to determine if they were interested in moving their accounts to his current member firm so that he could provide assistance with the accounts. Resnick telephoned clients who had not responded to his earlier calls or correspondence, and left messages advising that he was going to submit a request to his former firm to have them reassigned to him as their registered representative unless they instructed him otherwise. When the clients did not respond to his call, Resnick cut and pasted their signatures to broker of record change forms without their authorization or consent. As a result of his actions, Resnick was able to continue to serve as the broker of record for the customers’ mutual fund accounts, but his current firm terminated him for his misconduct and ultimately returned the accounts to his former firm.

Michael Julius Resnick (Principal): Barred