Edward Daniel Hochard (CRD #1830418, Registered Principal, Palm Bay, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $15,000 and suspended from association with any FINRA member in any capacity for six months. The suspension is in effect from January 7, 2013, through July 6, 2013. See FINRA Case #2011025963101. Hochard was registered with PFS Investments, Inc., from June 1988 until January 2011.
Without admitting or denying the findings, Hochard consented to the described sanctions and to the entry of findings that he personally purchased 1,000 shares of a private company’s common stock for the total amount of $10,000, directly from the company in a private offering, when he did not provide prior written notice to his member firm of his intent to participate in the purchase of the company’s common stock in a private transaction, nor did he receive the firm’s approval to purchase the common stock.
The findings stated that Hochard opened and maintained a Roth independent retirement account (IRA) with another FINRA member firm without providing notice to the FINRA member firm that he was employed by another FINRA member firm. Hochard further failed to disclose to his firm that he had opened a securities account with another FINRA member firm. When Hochard completed the new account form to open the account he falsely answered “no” to the question regarding NASD affiliation. The findings also stated that on separate occasions, Hochard completed annual attestations and representations reports and, on each occasion, he submitted the report to his firm in which he made false and inaccurate representations for the question concerning the opening of an outside brokerage account for which the firm had not been notified.
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