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SEC COMMISSION OPINION
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EXTRACTED KEY WORDS
FUNDS SECURITIES ACCOUNT SMITH PERSONAL BANK ACCOUNT EXCHANGE ACT NATIONAL ASSOCIATION COMMISSION DISCIPLINARY ACTION WISCONSIN REPRESENTATIVES INVESTMENT BANK ACCOUNT FINDINGS SANCTIONS SECURITIES DEALERS VIOLATION MEMBER FIRM NASD WBC COMPLAINT INVESTMENT GROUP AUTHORIZATION KEVIN LEE OTTO INVESTMENT CLUB TESTIMONY WITNESSES MILWAUKEE FAIR PRACTICE |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
SECURITIES EXCHANGE ACT OF 1934
Rel. No. 43296 / September 15, 2000
Admin. Proc. File No. 3-9938
In the Matter of
The Application of
KEVIN LEE OTTO
908 W. Oklahoma
Milwaukee, Wisconsin 53215
For Review of Disciplinary Action Taken By The
NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
OPINION OF THE COMMISSION
REGISTERED SECURITIES ASSOCIATION - REVIEW OF DISCIPLINARY
PROCEEDINGS
Violation of Rules of Fair Practice
Registered representative of a member firm of registered securities
association deposited customer's funds in his personal bank account
without the customer's knowledge or authorization and used the funds
for his own personal benefit. Held, association's findings of
violation and sanctions it imposed are sustained.
APPEARANCES
James A. Bolt, for Kevin Lee Otto.
Vickie R.Olafson, for the National Association of Securities
Dealers, Inc.
Appeal filed July 20, 1999
Briefing Completed October 25, 1999
I.
Kevin Lee Otto, during the period at issue, was a registered
representative of members of the National Association of Securities
Dealers, Inc. Otto was registered as a general securities
representative with Hamilton Investments, Inc. from May 1991 through
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