NASD Bars Manuel Asensio
******** REGULATORY ACTION (1 of 4) ********
Reporting Source:
Regulator (Form U-6)
Date
Reported:
02/10/2005
Initiated
By:
NASD
Date
initiated:
02/06/2004
Docket/
Case
Number:
CAF030067
Employing Brokerage
Firm: ASENSIO BROKERAGE SERVICES N/K/A INTEGRAL
SECURITIES,
INC.
Allegations: NASD RULES 2110, 2210(D)(1)(B), 2711,
8210 - A MEMBER
FIRM
ACTING THROUGH RESPONDENT FAILED TO DEFINE THE MEANING OF EACH
RATING USED IN THE FIRM'S RATING SYSTEM IN RESEARCH REPORTS
ABOUT A SECURITIES ISSUER AND FAILED TO DISCLOSE
THE
PERCENTAGE OF 'BUY," "HOLD/NEUTRAL," OR "SELL"
RATINGS
ASSIGNED BY HIS FIRM IN RESEARCH REPORTS; A MEMBER
FIRM,
ACTING THROUGH RESPONDENT PUBLISHED RESEARCH REPORTS
THAT
FAILED TO INCORPORATE A LINE GRAPH PRICE CHART SHOWING
THE
DATES ON WHICH IT MADE RECOMMENDATIONS ON THE SECURITY AND
THE
PRICE CHANGES RELATIVE TO THE FIRM'S
RECOMMENDATIONS;
DISCLOSURES OF STOCK OWNERSHIP WERE NOT CLEAR
AND
COMPREHENSIVE IN RESEARCH REPORTS; STATEMENTS IN
RESEARCH
REPORTS WERE UNWARRANTED OR MISLEADING; AND FAILED TO RESPOND
TO NASD REQUESTS FOR DOCUMENTS AND
INFORMATION.
Current
Status: On
Appeal
Appeal
Details: DECISION APPEALED TO THE NAC ON FEBRUARY 2,
2005.
Resolution:
Decision
Resolution
Date: 01/04/2005
Sanctions
Ordered:
Resolution
Details: HEARING PANEL
DECISION RENDERED JANUARY 4, 2005
WHEREIN
RESPONDENT IS BARRED FROM ASSOCIATING WITH ANY MEMBER FIRM IN
ANY CAPACITY FOR HIS FAILURE TO PROVIDE INFORMATION REQUESTED
BY NASD STAFF PURSUANT TO NASD PROCEDURAL RULE 8210.
IN
ADDITION, THE RESPONDENT IS JOINTLY AND SEVERALLY ORDERED TO
PAY COSTS IN THE AMOUNT OF $3,147.16, WHICH INCLUDES
AN
ADMINISTRATIVE FEE OF $750 AND TRANSCRIPT COSTS OF $2,397.16.
Summary: COMPLT FILED
2/02/04 - NASD RULES 2110, 2210(D)(1)(B),
2711,
8210 - RESPONDENT FAILED TO DEFINE THE MEANING OF EACH RATING
USED IN THE FIRM'S RATING SYSTEM IN RESEARCH REPORTS ABOUT A
SECURITIES ISSUER AND FAILED TO DISCLOSE THE PERCENTAGE
OF
'BUY," "HOLD/NEUTRAL," OR "SELL" RATINGS ASSIGNED BY HIS FIRM
IN RESEARCH REPORTS; PUBLISHED RESEARCH REPORTS THAT FAILED TO
INCORPORATE A LINE GRAPH PRICE CHART SHOWING THE DATES
ON
WHICH IT MADE RECOMMENDATIONS ON THE SECURITY AND THE PRICE
CHANGES RELATIVE TO THE FIRM'S RECOMMENDATIONS; DISCLOSURES OF
STOCK OWNERSHIP WERE NOT CLEAR AND COMPREHENSIVE IN RESEARCH
REPORTS; STATEMENTS IN RESEARCH REPORTS WERE UNWARRANTED OR
MISLEADING; AND FAILED TO RESPOND TO NASD REQUESTS
FOR
DOCUMENTS AND
INFORMATION.