Brokers Disciplined: Two Anaheim securities brokers accused...

Brokers Disciplined: Two Anaheim securities brokers accused of breaking trading rules were disciplined and fined Friday by the National Assn. of Securities Dealers, which enforces securities rules for the brokerage industry. Eddie Seung Chun was fined $120,000 and barred from the industry, the NASD said. In addition, Chun was ordered to reimburse his brokerage $448,351 based on findings that Chun, without the knowledge and consent of a customer, liquidated a customer’s IRA account and ordered that a $311,275.62 check from that account be made paid to a firm under Chun’s control, the NASD said. In addition, the NASD found that Chun allegedly cashed a customer’s $50,000 check and kept the funds; and at his request, a customer issued a $37,076.16 check made payable to a firm under Chun’s control for the purchase of an annuity, but Chun allegedly kept the funds. Another broker, George H. Gable, was fined $30,000 and barred from the industry without admitting or denying NASD findings that a customer placed three option orders that Gable said were executed but were not. The NASD also found that Gable prepared a false ledger reporting cash and margin balances that incorrectly represented a customer’s account.