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 James Jorgensen (Principal)
2008014433601

Jorgensen posted comments regarding a competitor insurance company’s stock on an Internet message board without written approval from a principal of his member firm. Jorgensen made a recommendation to sell the insurance company’s stock in his advertisement on the Internet board without disclosing that he had a financial interest in the securities. His posts omitted material information, which caused the communications to be misleading, and failed to disclose that he owned puts on the company.

Michael James Jorgensen (Principal): Fined $25,000; Suspended 60 days in all capacities

Tags: Internet