Charles A. Roth v. Securities and Exchange Commission

Opinion for the Court filed by Circuit Judge SENTELLE.

SENTELLE, Circuit Judge:

Petitioner Charles Roth seeks review of an order of the Securities and Exchange Commission (“SEC” or “Commission”), partially affirming final disciplinary action by the National Association of Securities Dealers (“NASD”). For the reasons set forth below, we deny the petition for review in all respects.

In 1988 the NASD began disciplinary proceedings against Roth, who was a registered representative with R.B. Marich, Inc., a member firm of the NASD. The NASD charged Roth with violating Art. Ill, §§ 1 & 40 of the NASD…