September 24, 2015- Plano, Texas
John Joseph Kolinofsky, Jr , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that while acting as branch manager and supervisory principal for his firm between 1/6/2011 and 5/2/2012, one of the brokers Kolinofsky was charged with supervising participated in the sale of $1.72 million of get preferred shares of BioChemics, Inc. to nine customers of Ameriprise Financial Services and 4 Ameriprise registered representatives.
By failing to supervise the private securities transactions of the broker, Kolinofsky violated NASD Rule 3010(b) and FINRA Rule 2010.
AWC No. 2012033291201
Kolinofsky was fined $20,000 and suspended from association with any FINRA member for one month. In addition he was suspended from acting in a principal capacity for three months and agreed to cooperated with FINRA Enforcement in its continuing investigation of the matter.
According to FINRA records, Kolinofsky was registered with Ameriprise Financial from 1/2011 until he was suspended. Prior to that he was registered with Southwest Securities in Plano, Texas, from 5/2003-1/2011
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