Former Walnut Street Securities Representative John Thomas Gaspar was fined and suspended in connection with selling away according to an AWC he entered into with FINRA in October 2012. According to the AWC,
From about September 2007 through about April 2009, Gasper participated in private securities transactions without providing prior written notice to, and obtaining prior written approval from, the Firm. Specifically, Gasper was involved in the sale of approximately $200,000 in DLG secured investment notes and $272,000 in CMC promissory notes, as part of two private offerings to five investors, all of whom were customers of the Firm at the time. The secured investment notes and promissory notes sold were securities. Gasper received approximately $30,491.14 in commissions as a result of those transactions. By participating in private securities transactions without providing prior written notice to, or obtaining prior written approval from, his employer member firm, Gasper violated NASD Conduct Rules 2110 (for conduct before December 15, 2008) and 3040 and FINRA Rule 2010 (for conduct after December 14, 2008)
The respondent was fined $40,500 and suspended for six-months.
Department of Enforcement v. John Thomas Gaspar III (CRD 2732961) , Disciplinary Proceeding No. 2011028660001.
