Ari Gaunt is a registered agent employed by Small &Associates Broker-Dealers. He has been notified of a hearing regarding the revocation of his…

If Ari is found guilty of making unauthorized trades on his clients’ accounts and has his license

revoked, he can appeal the decision in a court of law if he files the appeal within sixty days. Small &

Associates license is not in danger as long as the firm has been providing competent supervision of

Ari and its other agents. It will not be required to pay a fine based on Ari’s fraudulent activities. Ari

may end up with civil and criminal penalties, but the Administrator cannot assess them. Only a court

of law can do that.