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.

Luis Arguelles (Principal)
2009016608201

Arguelles threatened an associated person of another member firm that he was going to take his firm's lucrative securities transactions business elsewhere unless the associated person gave him money. As a result of Arguelles' threat, the associated person paid approximately $18,000 to Arguelles and Arguelles' relative by providing Arguelles with cash and by depositing money into the bank account of Arguelles' relative. Arguelles failed to respond to FINRA requests to appear for testimony.

Luis Arguelles (Principal): Barred