Paul Leon White II - OS/2009017798201 - 2011 FINRA Enforcement Actions

Enforcement Actions

Financial Industry Regulatory Authority (FINRA)

PRIVATE SECURITIES TRANSACTIONS

2011

REFERENCE: NASD Conduct Rule 3030 | NASD Conduct Rule 3030 | NYSE Rule 346.

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.

November 2011 - View all for this month

Paul Leon White II
OS/2009017798201

White recommended that a customer invest in non-listed real estate investment trusts (REITs) and a tenants-in-common (TIC) interest in undeveloped rural real estate without a reasonable basis to believe that the recommendations were suitable for the customer based on the customer’s financial status and investment objectives, and the customer’s need for liquidity, preservation of capital, ready access to cash, and safety of principal. The customer instructed White to sell the REITs and White acknowledged receipt of the sell instructions and informed the customer to expect to receive a check for the sale proceeds within one to two weeks, but later refused to process the sell orders.White participated in the sale of TIC interests totaling $3,700,000, outside the course or scope of his employment with his firm and collected selling compensation of approximately $1,653,958 but failed to provide his firm with prior written notice describing the proposed transactions.

Paul Leon White II: Barred

Tags: REIT

Enforcement Actions

Search in Private Securities Transactions

Months

Private Securities Transactions Archive

FINRA

Pre-FINRA

Tags

It's All Over Now: My 42-year Wall Street Journey by Bill Singer, Esq.

January 30, 2024

Before my second career as a lawyer, I was the third generation of my family in the wine and liquor industry. In 1981, I started law school; and in 1982, I was hired as a law student in Smith Barney, Harris & Upham's Legal Department. After I graduated law school, I was a regulatory lawyer with the American Stock Exchange and then with the NASD (now... Read On

Please enter your email address below if you wish to subscribe to our mailing list.

Home | Contact | BrokeAndBroker Site | BrokeAndBroker Blog

Privacy Statement | Legal Notice | Cookies