California Stockbroker Discipline Report for January 2010

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

Robert Lee Mandeville, formerly with Securian Financial Services in Newport Beach, California, and Morgan Stanley in Laguna Woods, California, was fined $35,000 and suspended from association with any FINRA member in any capacity for five months for allegedly engaging in unauthorized trades in customer accounts and making unsuitable trades in customer accounts.

Kale Edgar Evans, formerly with First Allied Securities in San Diego, California, and TD Waterhouse (now known as TD Ameritrade) was barred from association with any FINRA member in any capacity based on findings that Evans engaged in unsuitable and excessive trading in a young customer’s account, misappropriated approximately $127,450 from the customer’s savings account for his own purposes and gave the customer a $35,000 check as a settlement without his firm’s knowledge or consent.

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