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.

Brian Havens
AWC/2008015121101

Registered Principal Havens falsified the dates on account opening documents and bank checks without the customers’ knowledge or consent. The customers gave Havens checks totaling $23,190.24 to purchase shares in mutual funds, and he failed to execute the customers’ orders on a timely basis. The customers complained to Havens about his failure to invest their funds and Havens settled the customers’ complaints by paying the customers but failed to report the complaints to his member firm or seek its approval to settle the matters.

Brian Havens: Fined $12,500; Suspended 18 months in all capacities