Mr. Abbinanti submitted a Letter of Acceptance,Waiver and Consent in which he was fined $7,500, which includes disgorgement of $2,331.69 in commissions received, and suspended from association with any FINRA member in any capacity for 60 days. The fine must be paid either immediately upon Abbinanti’s reassociation with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier.  Without admitting or denying the findings, Abbinanti consented to the described sanctions and to the entry of findings that he effected, or caused to be effected, equity transactions in a customer’s account on a discretionary basis without the customer’s prior written authorization to exercise discretion and without his member firm’s written acceptance of the account as discretionary. The findings stated that Abbinanti completed a firm compliance questionnaire and, in response to the question concerning the handling of any accounts on a discretionary basis, he answered “no.”

The suspension is in effect from October 19, 2009, through December 17, 2009. (FINRA Case #2008014894001)