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.

William Kevin Harrison
AWC/2008015740301

Harrison transferred customer funds out of bank accounts linked to the firm’s securities accounts into a single online account at another broker-dealer.

Harrison transferred funds that totaled at least $6.5 million belonging to multiple customers. Harrison established the online account in a relative’s name, but he had sole control over the online account and conducted significant options trading in the account, using the customers’ funds and engaging in the trading without the affected customers’ knowledge or consent. Harrison subsequently transferred some of the funds out of the online account to unknown destinations.

Harrison failed to respond to FINRA requests for information and failed to appear for a FINRA on-therecord interview.

William Kevin Harrison : Barred

Tags: Options  Conversion