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.

David Alan Murrell
AWC/2008015274701

Murrell engaged in outside business activities without providing prompt written notice to his member firm. Murrell formed a partnership with a customer of a bank affiliated with his member firm to purchase, develop and sell private and commercial properties and make commercial loans secured by mortgages on realty, but failed to inform his firm. Murrell failed to disclose his outside business activities to his firm on an annual attestation form he completed on the same day he received in compensation from the partnership.

David Alan Murrell : Fined $10,000; Suspended 6 months

Tags: Annual Compliance Certification