Mark Warren Lamb

Mark Warren Lamb (CRD #1437554, Registered Representative, Woodside, California) and David Scott Cacchione (CRD #1941729, Registered Representative, Woodside, California) submitted an Offer of Settlement in which Lamb was fined $50,000 and suspended from association with any NASD member in any capacity for 30 days. Cacchione was fined $35,000 and suspended from association with any NASD member in any capacity for 30 days. Without admitting or denying the allegations, Lamb and Cacchione consented to the described sanctions and to the entry of findings that they, as agents of their member firm, effected the sale of unregistered securities to public customers while the firm acted as an underwriter. The findings also stated that Lamb received order tickets for the purchase of securities and failed to promptly inform his firm's trading department so that the trades could be reported within 90 seconds of execution as required by NASDAQ Marketplace Rules. NASD also found that Lamb and Cacchione failed to disclose material facts during the offer and sale of stock to public customers, including that the shares were neither registered nor exempt from registration and that an unauthorized third party was involved in the sale and pricing of the stock. In addition, NASD found that Lamb failed to disclose that the prices given to certain customers who purchased the stock were materially different from prices given to other customers who purchased the stock at virtually the same time, and that his firm delayed the inputting and trade reporting of the sales of stock for several hours after customers agreed to purchase the stock.

NASD DISCIPLINARY ACTIONS JANUARY 2004 D9 Lamb's suspension began January 5, 2004, and will conclude at the close of business February 3, 2004. Cacchione's suspension began January 5, 2004, and will conclude at the close of business February 3, 2004. (NASD Case #CAF020053)

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