Fairness, NASD-Style:  Get the Little Guy, Let the Big One Walk
The individuals listed below were recently fined and suspended by District 10 for failing
to disclose material facts on routine documents.  They are far lower in rank than Asensio. 
 
At the end of the list is a Registered Principal permanently barred from the securities industry
for failing to disclose a material fact on a routine form.  While higher in rank than an a
Registered Representative or associated person, he too has lesser standing than Asensio
but was punished severely. 
 
Asensio was not fined a penny or suspended for even a day.
 
 
Hin Chun Tang (CRD #4613667, Registered Representative, Flushing, New
York) submitted a Letter of Acceptance, Waiver, and Consent in which he was
fined $5,000 and suspended from association with any NASD member in any
capacity for one year. The fine must be paid before Tang reassociates with any
NASD member following the suspension or before requesting relief from any
statutory disqualification. Without admitting or denying the allegations, Tang
consented to the described sanctions and to the entry of findings that he willfully
failed to disclose a material fact on his  Form U4
 
Tang's suspension began January 5, 2004, and will conclude at the close of
business January 4, 2005. (NASD Case #C10030105)
 
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Jairzinho Merzius (CRD #4020892, Associated Person, Brooklyn, New York)
submitted a Letter of Acceptance, Waiver, and Consent in which he was fined
$5,000 and suspended from association with any NASD member in any
capacity for two years. The fine must be paid before Merzius reassociates with
any NASD member following the suspension or before requesting relief from
any statutory disqualification. Without admitting or denying the allegations,
Merzius consented to the described sanctions and to the entry of findings that he
willfully failed to disclose material information on his Form U4.
 
_______________________________________________________________
 
 
Tyrone Richard Melville (CRD #4587858, Registered Representative, New
York, New York) submitted an Offer of Settlement in which he was fined
$3,000 and suspended from association with any NASD member in any
capacity for 30 days. The fine must be paid before Melville reassociates with
any NASD member in any capacity or before requesting relief from any
statutory disqualification. Without admitting or denying the allegation, Melville
consented to the described sanctions and to the entry of findings that he failed to
disclose material facts on his Form U4.

Melville's suspension began February 2, 2004, and will conclude at the close of
business March 2, 2004. (NASD Case #C10030096)
 
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Nick Lalla (CRD #4545441, Registered Representative, Patchogue, New
York) submitted an Offer of Settlement in which he was fined $3,000 and
suspended from association with any NASD member in any capacity for six
months. The fine must be paid before Lalla reassociates with any NASD
member following the suspension or before requesting relief from any statutory
disqualification. Without admitting or denying the allegations, Lalla consented to
the described sanctions and to the entry of findings that he failed to disclose
material facts on his Form U4.

Lalla's suspension began November 17, 2003, and will conclude May 16,
2004. (NASD Case #CLI030018)
 
_______________________________________________________________

 
Israel G. Grossman (CRD #4201440, Registered Representative, Brooklyn,
New York) submitted an Offer of Settlement in which he was fined $5,000 and
suspended from association with any NASD member in any capacity for one
year. The fine must be paid before Grossman reassociates with any NASD
member in any capacity following the suspension or before requesting relief
from any statutory disqualification. Without admitting or denying the allegations,
Grossman consented to the described sanctions and to the entry of findings that
he willfully failed to disclose material facts on a Form U4.

Grossman's suspension began October 20, 2003, and will conclude at the close
of business October 19, 2004. (NASD Case #C10020081)
 
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Charlie J. Montero, Jr. (CRD #1789058, Registered Representative, New York, New
York) submitted a Letter of Acceptance, Waiver, and Consent in which he was
suspended from association with any NASD member in any capacity for 30 days. In
light of the financial status of Montero, no monetary sanctions were imposed.
Without admitting or denying the allegations, Montero consented to the described
sanction and to the entry of findings that he willfully failed to disclose a
material fact on his Form U4.
 
Montero's suspension began August 18, 2003, and will conclude at the close of
business September 16, 2003. (NASD Case #C10030055)
 
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Andrew Christopher Knight (CRD #3011465, Registered Representative, Port
Chester, New York) was fined $2,500 and suspended from association with any NASD
member in any capacity for 30 business days. The sanctions were based on
findings that Knight willfully failed to disclose material information on his
Form U4.
_______________________________________________________________
 
Frank Anthony Leonardo (CRD #2523774, Registered Principal, Flushing,
New York) was barred from association with any NASD member in any
capacity. The sanction was based on findings that Leonardo willfully failed to
disclose material information on his Form U4. (NASD Case #C9B030028)