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.

Robert Anthony Bellia Jr. (Principal)
OS/2005001502703

Bell failed to follow-up on “red flags” indicating possible misconduct by a registered representative. He failed to investigate why many of the representative’s accounts had “sellouts,” and why certain of the representative’s new customer accounts failed to pay for securities purchases that had appreciated in value. Bellia failed to adequately enforce his member firm’s heightened supervisory measures against the representative. 

Robert Anthony Bellia Jr. (Principal): Fined $10,000; Suspended 10 business days in all capacities; Suspended 90 days in Principal/Supervisory capacities only.