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.

John Leisen Kreuz (Principal)
AWC/2010021630301

Kreuz signed customers’ signatures on various forms to transfer their accounts from his previous member firm to another member firm, and submitted them to his firm without the customers’ approval or knowledge. Many of his customers agreed to transfer their accounts to his new member firm, but when Kreuz learned that he needed to submit the forms by a certain date, or his previous firm would be entitled to keep the trailing fees for mutual funds he had previously purchased for his customers, he completed and signed the forms.

John Leisen Kreuz (Principal): Fined $5,000; Suspended 1 year

Tags: Signature  Mutual Funds