Terry Lee Haggerty of Glenview, Illinois submitted an AWC in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Haggerty consented to the sanction and to the entry of findings that he engaged in manipulative trading activity in the shares of a penny stock traded in the OTC market, in willful violation of Section 10(b) of the Exchange Act and Rule 10b-5, and in violation of FINRA Rule 2020. The findings stated that through the use of his own accounts and those of his member firm customers, including his discretionary trading clients, Haggerty effected pre-arranged or matched trades in the penny stock, and marked the open or the close, in order to support or raise the price of the stock.
Mr Haggerty, who has been a long-term shareholder of the company, has significant experience with the finance and development of small businesses. He will assist the company identify new sources of capital to fund the projected sales growth of new and existing products. In addition, Mr. Haggerty will advise the Board of Directors on financial and strategic planning issues directed toward moving the company toward its objective of achieving a profitable level of operation.
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