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.

Ching Yang Aul
2007009347901

Aul created and submitted falsified Letters of Authorization (LOAs) to his member firm that bore forged customer signatures requesting that the firm transfer funds from the customers’ accounts to the accounts of people unknown to the customers but known to Aul. Aul’s acquaintances transferred the funds to Aul, who used the funds for personal expenses including paying off large gambling debts. Aul converted more than $1.5 million of customer funds. Aul failed to respond to FINRA requests for information.

Ching Yang Aul: Barred