California Stockbroker Discipline Report for March 2010

The following information regarding broker misconduct and disciplinary activities taken against California stockbrokers was released by the Financial Industry Regulatory Authority (FINRA) in March 2010:

Gary Thomas Armitage of Healdsburg, California, formerly with EPlanning Securities was barred from association with any FINRA member in any capacity for engaging and participating in private securities transactions without notifying his employing firm.

Francisco P. Esparza of Tustin Ranch, California, formerly with J.P. Turner & Company and LPL Financial Corporation was fined $10,000 and suspended from association with any FINRA member in any capacity for 15 business days for making unsuitable recommendations to his customers to buy closed-end funds (CEFs) purchased in an initial public offering (IPO) and selling them in the short term without fully understanding the pricing of CEFs and the risks and rewards of the investments.

James William Geis of Mission Viejo, California, formerly with Crown Capital Securities, L.P. was barred from association with any FINRA member in any capacity for participating in private securities transactions of related offerings without his employing firm’s prior approval which consisted of oil and gas “working interests” and preferred stock.

Jeffrey Alan Gielau, Anaheim Hills, California, formerly with Thrivent Investment Management was fined $5,000 and suspended from association with any FINRA member in any capacity for three months for altering documents in connection with transactions that customers requested.