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.

Kenia Bailey
AWC/2008016247401

Associated Person Bailey had responsibility for purchasing office supplies for her member firm’s branch office with access to the firm’s house account and charge card for an office supply store, which she used to purchase gift cards and office supplies for her own use and then submitted fabricated documents and invoices to the firm’s accounts payable department that made the personal charges appear as if they were branch expenses. Bailey had access to branch managers’ corporate credit cards, used the cards to purchase personal items and created fabricated receipts that made it appear as if the charges were branch office expenses. Bailey misappropriated approximately $50,000 from the firm in this manner. Bailey prepared and submitted fabricated documents in support of the expense reimbursement requests.

Kenia Bailey: Barred

Tags: Expenses