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.

Artha Lee Brooks (Principal)
AWC/2008015413103

Brooks accepted $5,000 in cash from a customer, against his member firm’s procedures, and gave the customer a receipt indicating receipt of the cash with a note indicating “money market.” The  customer’s account statements reflected no investment of the cash in a money market fund or any other type of investment and that the customer, through his attorney, filed a written complaint with the firm alleging that Brooks had misappropriated the cash. Brooks failed to respond to FINRA requests for information.

Artha Lee Brooks (Principal): Barred