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.

Lori Elizabeth Simpson
AWC/2009017046701

Associated Person Simpson wrongfully obtained $1,120.64 from a member firm’s affiliated company, and then misused the funds for her own benefit. The firm and its affiliated company had established company guidelines wherein certain expenses were automatically approved if the expenses fell below a certain dollar threshold, and Simpson consistently submitted expenses below the firm’s established threshold for automatic approval without a supervisor reviewing them. Simpson failed to respond to FINRA requests for documents and information.

Lori Elizabeth Simpson : Barred

Tags: Expenses