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 Charles Miller
AWC/2008013077101

Miller engaged in outside activities that involved his member firm’s customers without providing prompt written notice to his firm in the form the firm required. Miller solicited a customer to engage in a financial arrangement in which the customer pledged a variable life policy and variable annuity contract purchased through the firm as collateral for a loan. Acting through his outside business, Miller solicited another customer to loan funds to an outside entity for a construction project. Miller failed to advise the firm in writing in accord with the firm’s procedures that he was engaged in these outside business activities with the firm’s customers.

David Charles Miller : Fined $25,000; Suspended 6 months