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.

Audrey Dianne Cline
OS/2009017656901

Cline participated in private securities transactions contrary to her member firm’s policies and procedures without providing her firm any prior notice, written or otherwise, and receiving the firm’s prior written approval of her recommendations of promissory notes to customers and a non-customer. Cline failed to inform her firm that she held an introductory meeting between a customer and the issuer of the promissory notes in her firm office.

Audrey Dianne Cline: Fined $5,000; Suspended 3 moinths

Tags: Promissory Notes