Fordham Financial CRD

BrokerCheck Report
FORDHAM FINANCIAL MANAGEMENT, INC.

CRD# 20996
Report #75052-63374, data current as of Monday, January 26, 2015.
Section Title
Page(s)
Report Summary
Firm Profile
2-6
Firm History
Firm Operations
8 - 14
Disclosure Events
15
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User Guidance
FORDHAM FINANCIAL
MANAGEMENT, INC.
Report Summary for this Firm
CRD# 20996
This report summary provides an overview of the brokerage firm. Additional information for this firm can be found
in the detailed report.
SEC# 8-38622
Firm Profile
Main Office Location
This firm is classified as a corporation.
17 BATTERY PLACE, SOUTH

SUITE 643
NEW YORK, NY 10004
Regulated by FINRA New York Office
This firm was formed in Colorado on 09/21/1987.
Mailing Address
SUITE 643
NEW YORK, NY 10004
Information relating to the brokerage firm's history

such as other business names and successions
(e.g., mergers, acquisitions) can be found in the
detailed report.
Business Telephone Number
Firm Operations
212-732-8500
This firm is registered with:
Its fiscal year ends in December.
Firm History
the SEC
1 Self-Regulatory Organization
50 U.S. states and territories
Disclosure Events
Brokerage firms are required to disclose certain
criminal matters, regulatory actions, civil judicial
proceedings and financial matters in which the firm or
one of its control affiliates has been involved.
Are there events disclosed about this firm?
Yes
The following types of disclosures have been

reported:
Type
Count
Regulatory Event
Arbitration
Is this brokerage firm currently suspended with any

regulator? No
This firm conducts 4 types of businesses.
This firm is not affiliated with any financial or
investment institutions.
This firm has referral or financial arrangements with
other brokers or dealers.
2015 FINRA. All rights reserved.
Report# 75052-63374 about FORDHAM FINANCIAL MANAGEMENT, INC. Data current as of Monday, January 26, 2015.
User Guidance
Firm Profile
This firm is classified as a corporation.
This firm was formed in Colorado on 09/21/1987.
Its fiscal year ends in December.
Firm Names and Locations

This section provides the brokerage firm's full legal name, "Doing Business As" name, business and mailing
addresses, telephone number, and any alternate name by which the firm conducts business and where such name is
used.
FORDHAM FINANCIAL MANAGEMENT, INC.
Doing business as FORDHAM FINANCIAL MANAGEMENT, INC.
CRD# 20996
SEC#
8-38622
Main Office Location

SUITE 643
NEW YORK, NY 10004
Regulated by FINRA New York Office
Mailing Address
SUITE 643
NEW YORK, NY 10004
Business Telephone Number
212-732-8500
User Guidance
Firm Profile
This section provides information relating to all direct owners and executive officers of the brokerage firm.
Direct Owners and Executive Officers

Legal Name & CRD# (if any):
FORDHAM HOLDING GROUP, INC.
Is this a domestic or foreign

entity or an individual?
Domestic Entity
Position
SHAREHOLDER
Position Start Date
03/1996
Percentage of Ownership
75% or more
Does this owner direct the

management or policies of
the firm?
Yes
Is this a public reporting

company?
No
ADAMS, RICHARD JOSEPH

1072936

Individual
Position
FINOP
Position Start Date
08/1999
Less than 5%

the firm?
Yes

company?
No
BAQUET, EDWARD MANUEL

4986983

Individual
Position
GENERAL PRINCIPLE, CROP/ROP/SROP, HEAD TRADER
Position Start Date
05/2009
Less than 5%
User Guidance
Firm Profile
Direct Owners and Executive Officers (continued)
Less than 5%

the firm?
Yes

company?
No
BAQUET, WILLIAM
1332676

Individual
Position
GENERAL PRINCIPAL, PRESIDENT, DIRECTOR, SECRETARY, TREASURER
Position Start Date
08/1999
Less than 5%

the firm?
Yes

company?
No
CALAMUNCI, ROBERT JOSEPH SR

1618899

Individual
Position
MSRB PRINCIPAL
Position Start Date
05/2013
Less than 5%

the firm?
No

company?
No
GIORDANO, CHARLES FRANCIS
Report#2124257
75052-63374 about FORDHAM FINANCIAL MANAGEMENT, INC. Data current as of Monday, January 26, 2015.
User Guidance
Firm Profile
Direct Owners and Executive Officers (continued)
2124257
Individual
Position
MANAGING DIRECTOR, GENERAL PRINCIPAL
Position Start Date
07/1997
Less than 5%

the firm?
Yes

company?
No
HENDERSON, PHYLLIS ANNE

1343053

Individual
Position
CHIEF COMPLIANCE OFFICER, AML COMPLIANCE OFFICER
Position Start Date
05/2009
Less than 5%

the firm?
Yes

company?
No
User Guidance
Firm Profile
This section provides information relating to any indirect owners of the brokerage firm.
Indirect Owners
BAQUET, WILLIAM
1332676

Individual
Company through which

indirect ownership is
established
FORDHAM HOLDINGS GROUP
Relationship to Direct Owner
PRESIDENT, SECRETARY
Relationship Established
06/1997
75% or more

the firm?
Yes

company?
No
User Guidance
Firm History
This section provides information relating to any successions (e.g., mergers, acquisitions) involving the firm.
No information reported.
User Guidance
Firm Operations
Registrations
This section provides information about the regulators (Securities and Exchange Commission (SEC), self-regulatory
organizations (SROs), and U.S. states and territories) with which the brokerage firm is currently registered and
licensed, the date the license became effective, and certain information about the firm's SEC registration.
This firm is currently registered with the SEC, 1 SRO and 50 U.S. states and territories.
Federal Regulator
Status
Date Effective
SEC
Approved
10/23/1987
SEC Registration Questions

This firm is registered with the SEC as:
A broker-dealer:
Yes
A broker-dealer and government securities broker or dealer:

A government securities broker or dealer only:
No
No
This firm has ceased activity as a government securities broker or dealer:
No
Self-Regulatory Organization
Status
Date Effective
FINRA
Approved
11/13/1987
User Guidance
Firm Operations
Registrations (continued)
U.S. States &
Territories
Status
Date Effective
U.S. States &

Territories
Status
Date Effective
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Jersey
New Mexico
New York
North Carolina
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
01/29/1997
02/10/1997
01/29/1997
02/05/1997
05/30/1996
11/24/1987
04/24/1996
05/16/1996
04/07/1996
07/30/1996
03/13/1996
10/06/1997
01/27/1997
06/05/1996
01/05/1998
01/16/1997
07/15/1996
01/13/1997
01/28/1997
10/31/2007
02/07/1996
06/05/1996
02/26/1997
06/05/1996
03/05/1997
04/06/1988
01/14/1997
11/26/1997
01/09/1997
09/10/1996
02/05/1997
05/24/1996
09/24/1996
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Virgin Islands
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
Approved
03/11/2002
02/03/1997
08/20/1996
02/05/1997
06/14/1996
08/07/2007
01/28/1997
01/14/1997
01/22/1997
02/06/1997
09/23/1997
09/10/2007
07/17/1996
01/17/1997
01/14/1997
07/29/1997
07/31/1997
User Guidance
Firm Operations
Types of Business
This section provides the types of business, including non-securities business, the brokerage firm is engaged in or
expects to be engaged in.
This firm currently conducts 4 types of businesses.
Types of Business
Broker or dealer retailing corporate equity securities over-the-counter
Put and call broker or dealer or option writer
Trading securities for own account
Private placements of securities
10
User Guidance
Firm Operations
Clearing Arrangements
This firm does not hold or maintain funds or securities or provide clearing services for other broker-dealer(s).
Introducing Arrangements
This firm does refer or introduce customers to other brokers and dealers.
Name:
COR CLEARING LLC
CRD #:
117176
Business Address:
9300 UNDERWOOD AVENUE

SUITE 400
OMAHA, NE 68114
Effective Date:
11/20/2012
Description:
FULLY DISCLOSED CLEARING AGREEMENT --
11
User Guidance
Firm Operations
Industry Arrangements
This firm does have books or records maintained by a third party.

Name:
SILVERSKY, INC. (F/K/A USA.NET)
Business Address:
2 PENN PLAZA, SUITE 1990

NEW YORK, NY 10121
Effective Date:
07/15/2011
Description:
SILVERSKY,INC. (FORMERLY KNOWN AS USA.NET, OUR PREVIOUS

PROVIDER) PROVIDES A COMPLETE MESSAGING SOLUTION WHICH
ENABLES THE FIRM TO EMPLOY COMPREHENSIVE SUPERVISORY
PROCESSES TO REVIEW ELECTRONIC CORRESPONDENCE AND
ELECTRONIC DATA STORAGE SERVICES UTILIZING NON-OPTICAL
ELECTRONIC STORAGE MEDIA. (NAME CHANGED FROM SECCAS TO
USA.NET, INC.)
Name:
COR CLEARING LLC
CRD #:
117176
Business Address:
9300 UNDERWOOD AVENUE

SUITE 400
OMAHA, NE 68114
Effective Date:
11/20/2012
Description:
FULLY DISCLOSED CLEARING AGREEMENT
This firm does not have accounts, funds, or securities maintained by a third party.
This firm does not have customer accounts, funds, or securities maintained by a third party.
Control Persons/Financing
This firm does not have individuals who control its management or policies through agreement.
This firm does have individuals who wholly or partly finance the firm's business.
Name:
VACE PARTNERS, LTD.,
Business Address:
1899 VICTORY BLVD

STATEN ISLAND, NY 10314
Effective Date:
07/24/1996
Description:
VACE PARTNERS, LTD., TAX ID#13-3900632, HAS INVESTED $400,000 IN

FORDHAM HOLDINGS GROUP, INC., THE OWNER OF FORDHAM
FINANCIAL MANGEMENT, INC., BY PURCHASING 80,000 SERIES B
PREFERRED (NO VOTING RIGHTS) SHARES OF FORDHAM HOLDINGS
Report#GROUP,
75052-63374
about
FINANCIAL
MANAGEMENT, INC. Data current as of Monday, January 26, 2015.
INC.,
INFORDHAM
A PRIVATE
TRANSACTION.
12
User Guidance
Firm Operations
Industry Arrangements (continued)
PREFERRED (NO VOTING RIGHTS) SHARES OF FORDHAM HOLDINGS
GROUP, INC., IN A PRIVATE TRANSACTION.
Name:
1060 RICHMOND ROAD, CORP,
Business Address:
1060 RICHMOND ROAD

Effective Date:
09/26/1996
Description:
1060 RICHMOND ROAD, CORP., TAX ID #13-3072316, HAS INVESTED

$50,000 IN FORDHAM HOLDINGS GROUP, INC., THE OWNER OF
FORDHAM FINANCIAL MANAGEMENT, INC., BY PURCHASING 10,000
SERIES B PREFERRED SHARES (NO VOTING RIGHTS OF FORDHAM
HOLDINGS GROUP, INC. IN A PRIVATE TRANSACTION.
Name:
JANGIZ DEMIRKAN
Business Address:
424 JEFFERSON AVENUE

Effective Date:
08/17/1996
Description:
SS#067-46-4777, HAS INVESTED $50,000 IN FORDHAM HOLDINGS

GROUP, INC., THE OWNER OF FORDHAM FINANCIAL MANAGEMENT,
INC., BY PURCHASING 10,000 SERIES B PREFERRED (NO VOTING
RIGHTS) SHARES OF FORDHAM HOLDINGS GROUP, INC. IN A PRIVATE
TRANSACTION.
13
User Guidance
Firm Operations
Organization Affiliates
This section provides information on control relationships the firm has with other firms in the securities, investment
advisory, or banking business.
This firm is not, directly or indirectly:

in control of
controlled by
or under common control with
the following partnerships, corporations, or other organizations engaged in the securities or investment
advisory business.
This firm is not directly or indirectly, controlled by the following:
bank holding company
national bank
state member bank of the Federal Reserve System
state non-member bank
savings bank or association
credit union
or foreign bank
14
User Guidance
Disclosure Events
All firms registered to sell securities or provide investment advice are required to disclose regulatory actions, criminal or
civil judicial proceedings, and certain financial matters in which the firm or one of its control affiliates has been involved.
For your convenience, below is a matrix of the number and status of disclosure events involving this brokerage firm or
one of its control affiliates. Further information regarding these events can be found in the subsequent pages of this
report.
Pending
Final
On Appeal
Regulatory Event
Arbitration
N/A
N/A
15
User Guidance
Disclosure Event Details

What you should know about reported disclosure events:
1. BrokerCheck provides details for any disclosure event that was reported in CRD. It also includes
summary information regarding FINRA arbitration awards in cases where the brokerage firm was
named as a respondent.
2. Certain thresholds must be met before an event is reported to CRD, for example:
o A law enforcement agency must file formal charges before a brokerage firm is required to disclose a
particular criminal event.
3. Disclosure events in BrokerCheck reports come from different sources:
o Disclosure events for this brokerage firm were reported by the firm and/or regulators. When the firm
and a regulator report information for the same event, both versions of the event will appear in the
BrokerCheck report. The different versions will be separated by a solid line with the reporting source
labeled.
4. There are different statuses and dispositions for disclosure events:
o A disclosure event may have a status of pending, on appeal, or final.
A "pending" event involves allegations that have not been proven or formally adjudicated.
An event that is "on appeal" involves allegations that have been adjudicated but are currently
being appealed.
A "final" event has been concluded and its resolution is not subject to change.
o A final event generally has a disposition of adjudicated, settled or otherwise resolved.
An "adjudicated" matter includes a disposition by (1) a court of law in a criminal or civil matter,
or (2) an administrative panel in an action brought by a regulator that is contested by the party
charged with some alleged wrongdoing.
A "settled" matter generally involves an agreement by the parties to resolve the matter.
Please note that firms may choose to settle customer disputes or regulatory matters for
business or other reasons.
A "resolved" matter usually involves no payment to the customer and no finding of
wrongdoing on the part of the individual broker. Such matters generally involve customer
disputes.
5. You may wish to contact the brokerage firm to obtain further information regarding any of the
disclosure events contained in this BrokerCheck report.
Regulatory - Final
This type of disclosure event involves (1) a final, formal proceeding initiated by a regulatory authority (e.g., a state
securities agency, self-regulatory organization, federal regulator such as the U.S. Securities and Exchange Commission,
foreign financial regulatory body) for a violation of investment-related rules or regulations; or (2) a revocation or
suspension of the authority of a brokerage firm or its control affiliate to act as an attorney, accountant or federal
contractor.
Disclosure 1 of 7
Reporting Source:
Regulator
Current Status:
Final
Allegations:
FINRA RULE 7450 - FORDHAM FINANCIAL MANAGEMENT, INC.

IMPROPERLY REPORTED EXECUTION OR COMBINED ORDER/EXECUTION
16
User Guidance
Allegations:
FINRA RULE 7450 - FORDHAM FINANCIAL MANAGEMENT, INC.

IMPROPERLY REPORTED EXECUTION OR COMBINED ORDER/EXECUTION
REPORTS TO THE ORDER AUDIT TRAIL SYSTEM (OATS) WITH A
REPORTING EXCEPTION OF "M." THE FIRM TRANSMITTED REPORTS TO
OATS THAT CONTAINED INACCURATE CAPACITY CODES.
Initiated By:
FINRA
Date Initiated:
06/01/2012
Docket/Case Number:
2010023689701
Principal Product Type:
No Product
Other Product Type(s):

Principal Sanction(s)/Relief
Sought:
Other Sanction(s)/Relief
Sought:
Resolution:
Acceptance, Waiver & Consent(AWC)
Resolution Date:
06/01/2012
Does the order constitute a

final order based on
violations of any laws or
regulations that prohibit
fraudulent, manipulative, or
deceptive conduct?
Sanctions Ordered:
No
Censure
Monetary/Fine $10,000.00
Other Sanctions Ordered:

Sanction Details:
WITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTED

TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS;
THEREFORE, THE FIRM IS CENSURED AND FINED $10,000. FINE PAID IN
FULL ON SEPTEMBER 21, 2012.
i
Reporting Source:
Firm
Current Status:
Final
Allegations:
FINRA RULE 7450 -- THE FIRM IMPROPERLY REPORTED EXECUTION OR

COMBINED ORDER/EXECUTION REPORTS TO OATS WITH A REPORTING
EXCEPTION OF 'M', THEREFORE, THE FIRM TRANSMITTED REPORTS TO
OATS THAT CONTAINED INACCURATE CAPACITY CODES.
Initiated
By:All rights reserved.
2015
FINRA.
Report# FINRA
75052-63374 about FORDHAM FINANCIAL MANAGEMENT, INC. Data current as of Monday, January 26, 2015.
17
User Guidance
Initiated By:
FINRA
Date Initiated:
06/01/2012
Docket/Case Number:
2010023689701
No Product

Sought:
Sought:
Resolution:
Resolution Date:
06/01/2012
Sanctions Ordered:
Censure

Sanction Details:

TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS. THE
FIRM WAS CENSURED AND FINED $10,000.00.
i
Disclosure 2 of 7
Reporting Source:
Regulator
Current Status:
Final
Allegations:
SECTION 17(A) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES

17A-3, 17A-4 THEREUNDER, SEC REGULATION M, RULE 101, FINRA RULES
2010, 3130(B), 5190(C), 5190(C)(1)(A), NASD RULES 2110, 2860(B)(16), 3010,
3010(B), 3010(D), 3011(B), 3011(C), 3013(B), 3070(C), 3110(A): THE FIRM
FAILED TO FILE AN SEC REGULATION M RESTRICTED PERIOD
NOTIFICATION FORM IN CONNECTION WITH A PRIVATE PLACEMENT
OFFERING IT COMMENCED ON BEHALF OF A COMPANY. THE OFFERING
WAS A DISTRIBUTION WITHIN THE MEANING OF SEC REGULATION M,
RULE 100 AND THEREFORE, IT WAS SUBJECT TO THE REQUIREMENTS OF
THE REGULATION AND OF FINRA RULE 5190(C). THE OFFERING PRICE
WAS DETERMINED AFTER THE CLOSE OF BUSINESS ON APRIL 30, 2009.
ACCORDINGLY, THE REGULATION M PERIOD FOR THE OFFERING BEGAN
ON APRIL 24, 2009 AND THE FIRM SHOULD HAVE RESTRICTED ITS
TRADING IN THE COMPANY AND THE SOLICITATION OF TRADES IN THAT
COMPANY'S SECURITIES BEGINNING ON THAT DATE. THE FIRM DID NOT.
AS A RESULT, WHEN THE OFFERING WAS CANCELED FOLLOWING
DISCOVERY BY THE FIRM'S OUTSIDE COUNSEL OF THE FIRM'S FAILURE
TO FILE THE RESTRICTED PERIOD NOTIFICATION FORM, THE FIRM
18
User Guidance
DISCOVERY BY THE FIRM'S OUTSIDE COUNSEL OF THE FIRM'S FAILURE

TO FILE THE RESTRICTED PERIOD NOTIFICATION FORM, THE FIRM
THROUGH ITS AGENTS AND EMPLOYEES, IMPROPERLY SOLICITED 19
CUSTOMER PURCHASES, AND A FIRM REGISTERED REPRESENTATIVE
IMPROPERLY MADE TWO PURCHASE OF THE STOCK FOR HIS OWN
ACCOUNT. AS A RESULT, THE FIRM WILLFULLY VIOLATED SEC
REGULATION M, RULE 101, AND FINRA RULES 2010 AND 5190(C)(1)(A). THE
FIRM FAILED TO CAPTURE THE TIMES OF ITS RECEIPTS OF CUSTOMER
ORDERS. AS A RESULT, THE FIRM WILLFULLY VIOLATED SECTION 17(A) OF
THE SECURITIES EXCHANGE ACT OF 1934 AND RULES 17A-3 AND 17A-4
THEREUNDER, FINRA RULE 2010, AND NASD RULES 2110 AND 3110(A). AS
IMPLEMENTED BY THE FIRM'S ANTI-MONEY LAUNDERING (AML)
COMPLIANCE OFFICER, THE FIRM'S AML POLICIES, PROCEDURES AND
INTERNAL CONTROLS WERE NOT REASONABLY DESIGNED TO ACHIEVE
COMPLIANCE WITH THE BANK SECRECY ACT (BSA) AND ITS
IMPLEMENTING REGULATIONS. THE FIRM, THROUGH ITS AML
COMPLIANCE OFFICER, FAILED TO ADEQUATELY IMPLEMENT ITS
CUSTOMER IDENTIFICATION PROGRAM (CIP) IN THAT IT FAILED TO
DOCUMENT THAT IT A) HAD OBTAINED CERTAIN REQUIRED PIECES OF
INFORMATION TO VERIFY THE CUSTOMER'S IDENTITY IN FIVE OF 51
ACCOUNTS SAMPLED BY FINRA'S EXAMINATION STAFF, B) HAD
PERFORMED ANY VERIFICATION OF THE CUSTOMER'S IDENTITY AT ALL IN
16 OF 51 ACCOUNTS SAMPLED, AND C) HAD PERFORMED THE REQUIRED
NON-DOCUMENTARY VERIFICATION FOR 28 ACCOUNTS. THE FIRM FAILED
TO ESTABLISH AND ENFORCE AN ADEQUATE AML COMPLIANCE
PROGRAM AND FAILED TO PROVIDE FOR INDEPENDENT TESTING FOR
COMPLIANCE WITH ITS AML OBLIGATIONS. THE FIRM FAILED TO REPORT
CUSTOMER COMPLAINTS NO LATER THAN THE 15TH DAY FOLLOWING THE
END OF THE CALENDAR QUARTER IN WHICH THOSE COMPLAINTS WERE
RECEIVED. THE FIRM IMPROPERLY PERMITTED OPTIONS TRADING,
FAILED TO RETAIN OPTION AGREEMENTS, AND FAILED TO OBTAIN
ESSENTIAL INFORMATION ON THE CLIENT OPTION AGREEMENT IN
CUSTOMER ACCOUNTS. THE FIRM FAILED TO ESTABLISH, MAINTAIN AND
ENFORCE WRITTEN SUPERVISORY PROCEDURES (WSPS) REASONABLY
DESIGNED TO ACHIEVE COMPLIANCE WITH SEC REGULATION M, RULES
100 THROUGH 105 AND FINRA RULE 5190. THE FIRM ALSO FAILED TO
ENFORCE WSPS TO SUPERVISE ITS REGISTERED REPRESENTATIVES.
SPECIFICALLY, THE FIRM FAILED TO CONDUCT TRANSACTION REVIEWS
AND FAILED TO ESTABLISH AND ENFORCE HEIGHTENED SUPERVISION.
THE FIRM'S CHIEF EXECUTIVE OFFICER WAS REQUIRED TO SIGN, ON
BEHALF OF THE FIRM, THE CHIEF EXECUTIVE OFFICER CERTIFICATIONS
CERTIFYING THE FIRM'S WRITTEN COMPLIANCE POLICIES AND WSPS. THE
CHIEF EXECUTIVE OFFICER FAILED TO SIGN SUCH CERTIFICATIONS FOR
THE YEARS 2008 AND 2009.
Initiated By:
FINRA
19
User Guidance
Date Initiated:
05/31/2012
Docket/Case Number:
2008011743303
Other
PRIVATE PLACEMENTS
Sought:
Other
Sought:
N/A
Resolution:
Decision & Order of Offer of Settlement
Resolution Date:
03/25/2013

deceptive conduct?
Sanctions Ordered:
No
Censure

Sanction Details:
WITHOUT ADMITTING OR DENYING THE ALLEGATIONS THE FIRM

CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF
FINDINGS THAT IT VIOLATED SECTION 17(A) OF THE SECURITIES
EXCHANGE ACT OF 1934, RULES 17A-3 AND 17A-4 THEREUNDER, SEC
REGULATION M, RULE 101, FINRA RULES 2010, 3130(B), AND 5190(C)(1)(A),
AND NASD RULES 2110, 2860(B)(16), 3010(B), 3010(D), 3011(B), 3011(A),
3011(C), 3013, 3110(A), AND 3070(C), THEREFORE THE FIRM IS CENSURED
AND FINED $50,000. FINRA IMPOSED A LOWER FINE IN THIS CASE AFTER
IS CONSIDERED, AMONG OTHER THINGS, THE FIRM'S REVENUES AND
FINANCIAL RESOURCES.
i
Reporting Source:
Firm
Current Status:
Final
Allegations:
SECTION 17(A) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES

17A-3, 17A-4 THEREUNDER, SEC REGULATION M, RULE 101, FINRA RULES
2010, 3130(B), 5190(C), 5190(C)(1)(A), NASD RULES 2110, 2860(B)(16), 3010,
3010(B), 3010(D), 3011(B), 3011(C), 3013(B), 3070(C), 3110(A): THE FIRM
FAILED TO FILE AN SEC REGULATION M RESTRICTED PERIOD
20
User Guidance

WAS SUBJECT TO THE REQUIREMENTS OF THE REGULATION AND OF
FINRA RULE 5190(C). THE OFFERING PRICE WAS DETERMINED AFTER THE
CLOSE OF BUSINESS ON APRIL 30, 2009. ACCORDINGLY, THE
REGULATION M PERIOD FOR THE OFFERING BEGAN ON APRIL 24, 2009
AND THE FIRM SHOULD HAVE RESTRICTED ITS TRADING IN THE
COMPANY AND THE SOLICITATION OF TRADES IN THAT COMPANY'S
SECURITIES BEGINNING ON THAT DATE. THE FIRM DID NOT. AS A RESULT,
WHEN THE OFFERING WAS CANCELED FOLLOWING DISCOVERY BY THE
FIRM'S OUTSIDE COUNSEL OF THE FIRM'S FAILURE TO FILE THE
RESTRICTED PERIOD NOTIFICATION FORM, THE FIRM THROUGH ITS
AGENTS AND EMPLOYEES, IMPROPERLY SOLICITED 19 CUSTOMER
PURCHASES, AND A FIRM REGISTERED REPRESENTATIVE IMPROPERLY
MADE TWO PURCHASE OF THE STOCK FOR HIS OWN ACCOUNT. AS A
RESULT, THE FIRM VIOLATED SEC REGULATION M, RULE 101, AND FINRA
RULES 2010 AND 5190(C)(1)(A). THE FIRM FAILED TO CAPTURE THE TIMES
OF ITS RECEIPTS OF CUSTOMER ORDERS. AS A RESULT, THE FIRM
VIOLATED SECTION 17(A) OF THE SECURITIES EXCHANGE ACT OF 1934
AND RULES 17A-3 AND 17A-4 THEREUNDER, FINRA RULE 2010, AND NASD
RULES 2110 AND 3110(A). AS IMPLEMENTED BY THE FIRM'S ANTI-MONEY
LAUNDERING (AML) COMPLIANCE OFFICER, THE FIRM'S AML POLICIES,
PROCEDURES AND INTERNAL CONTROLS WERE NOT REASONABLY
DESIGNED TO ACHIEVE COMPLIANCE WITH THE BANK SECRECY ACT
(BSA) AND ITS IMPLEMENTING REGULATIONS. THE FIRM FAILED TO
ADEQUATELY IMPLEMENT ITS CUSTOMER IDENTIFICATION PROGRAM
(CIP) IN THAT IT FAILED TO DOCUMENT THAT IT A) HAD OBTAINED
CERTAIN REQUIRED PIECES OF INFORMATION TO VERIFY THE
CUSTOMER'S IDENTITY IN FIVE OF 51 ACCOUNTS SAMPLED BY FINRA'S
EXAMINATION STAFF, B) HAD PERFORMED ANY VERIFICATION OF THE
CUSTOMER'S IDENTITY AT ALL IN 16 OF 51 ACCOUNTS SAMPLED, AND C)
HAD PERFORMED THE REQUIRED NON-DOCUMENTARY VERIFICATION
FOR 28 ACCOUNTS. THE FIRM FAILED TO ESTABLISH AND ENFORCE AN
ADEQUATE AML COMPLIANCE PROGRAM AND FAILED TO PROVIDE FOR
INDEPENDENT TESTING FOR COMPLIANCE WITH ITS AML OBLIGATIONS.
THE FIRM FAILED TO REPORT CUSTOMER COMPLAINTS NO LATER THAN
THE 15TH DAY FOLLOWING THE END OF THE CALENDAR QUARTER IN
WHICH THOSE COMPLAINTS WERE RECEIVED. THE FIRM IMPROPERLY
PERMITTED OPTIONS TRADING, FAILED TO RETAIN OPTION AGREEMENTS,
AND FAILED TO OBTAIN ESSENTIAL INFORMATION ON THE CLIENT OPTION
AGREEMENT IN CUSTOMER ACCOUNTS. THE FIRM FAILED TO ESTABLISH,
MAINTAIN AND ENFORCE WRITTEN SUPERVISORY PROCEDURES (WSPS)
REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH SEC
REGULATION M, RULES 100 THROUGH 105 AND FINRA RULE 5190. THE
FIRM ALSO FAILED TO ENFORCE WSPS TO SUPERVISE ITS REGISTERED
REPRESENTATIVES. SPECIFICALLY, THE FIRM FAILED TO CONDUCT
Report# TRANSACTION
75052-63374 about FORDHAM
MANAGEMENT,
INC. Data current
as of Monday, January 26, 2015.
REVIEWSFINANCIAL
AND FAILED
TO ESTABLISH
AND ENFORCE
HEIGHTENED SUPERVISION. THE FIRM'S CHIEF EXECUTIVE OFFICER WAS
21
User Guidance
REPRESENTATIVES. SPECIFICALLY, THE FIRM FAILED TO CONDUCT

TRANSACTION REVIEWS AND FAILED TO ESTABLISH AND ENFORCE
HEIGHTENED SUPERVISION. THE FIRM'S CHIEF EXECUTIVE OFFICER WAS
REQUIRED TO SIGN, ON BEHALF OF THE FIRM, THE CHIEF EXECUTIVE
OFFICER CERTIFICATIONS CERTIFYING THE FIRM'S WRITTEN
COMPLIANCE POLICIES AND WSPS. THE CHIEF EXECUTIVE OFFICER
FAILED TO SIGN SUCH CERTIFICATIONS FOR THE YEARS 2008 AND 2009.
Initiated By:
FINRA
Date Initiated:
05/31/2012
Docket/Case Number:
2008011743303
Other
PRIVATE PLACEMENT
Sought:
Sought:
Resolution:
Decision & Order of Offer of Settlement
Resolution Date:
03/25/2013
Sanctions Ordered:
Censure

Sanction Details:
WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, THE FIRM

CONSENTED TO THE DESCRIBED SANTCTIONS AND TO THE ENTRY OF
FINDINGS THAT IT VIOLATED SECTION 17(A) OF THE SEA OF 1934, RULES
17A-4 THEREUNDER, SEC REGULATION M, RULE 101, FINRA RULES 2010,
3130(B), AND 5190(C)(1)(A), AND NASD RULES 2110, 2860(B)(16), 3010(B),
3010(D), 3011(B), 3011(A), AND 3070(C). THE FIRM WAS CENSURED AND
FINED $50,000.
i
Disclosure 3 of 7
Reporting Source:
Regulator
Current Status:
Final
Allegations:
NASD RULES 2110, 3070 - FORDHAM FINANCIAL MANAGEMENT, INC.,

ACTING THROUGH AN INDIVIDUAL, FAILED TO REPORT STATISTICAL AND
SUMMARY INFORMATION REGARDING CUSTOMER COMPLAINTS AS
REQUIRED BY NASD RULE 3070(C).
Initiated By:
NASD
22
User Guidance
Initiated By:
NASD
Date Initiated:
05/31/2006
Docket/Case Number:
E102005014702
No Product

Sought:
Sought:
Resolution:
Resolution Date:
05/31/2006

deceptive conduct?
Sanctions Ordered:
No
Censure

Sanction Details:

TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS;
THEREFORE, THE FIRM IS CENSURED AND FINED $15,000, JOINTLY AND
SEVERALLY.
i
Reporting Source:
Firm
Current Status:
Final
Allegations:
WITHOUT ADMITTING OR DENYING ALLEGATIONS FORDHAM FINANCIAL

MANAGEMENT AND HARVEY LATZEN JOINTLY WERE ALLEGED TO HAVE
FAILED TO REPORT (6) EMAIL AND FAX STATISTICAL CUSTOMER
COMPLAINTS ON 3070 FILE
Initiated By:
NASD
Date Initiated:
05/30/2006
Docket/Case Number:
E102005014702

Other
23
User Guidance
Other
STATISTICAL INFORMATION COMPLAINTS
Sought:
Other
Sought:
LETTER OF ACCEPTANCE WAIVER AND CONSENT "AWC" WITHOUT

ADMIOTTING OR DENYING ALLEGATIONS FRODHAM FINANCIAL
MANAGEMENT AND HARVEY LATZEN JOINTLY WERE ALLEGED TO HAVE
FAILED TO REPORT 6 FAXES AND EMAIL CORRESPONDENCE. FOUR (4)
FOR THE 3RD QTR 2004, AND ONE (1) IN THE 4TH QTR 2004, AND 1 IN THE
1SR QTR 2005. ON THE FIRM 3070 CUSTOMER COMPLAINT FILE.
Resolution:
Resolution Date:
05/31/2006
Sanctions Ordered:
Censure

Sanction Details:
FINED AND CENSURED JOINTLY HARVEY LATZEN AND FORDHAM

FINANCIAL MANAGEMENT $15,000.00 OF WHICH TOTAL WAS PAID BY
FORDHAM FINANCIAL MANAGEMENT.
Firm Statement
WITHOUT ADMITTING OR DENYING A LETTER OF ACCEPTANCE WAIVER

AND CONSENT HAS NOW BEEN ACCEPTED BY NASD (NAC REVIEW
COMMITTEE).
i
Disclosure 4 of 7
Reporting Source:
Regulator
Current Status:
Final
Allegations:
NASD CONDUCT RULES 2110 AND 3070 - FORDHAM FINANCIAL

MANAGEMENT, INC., ACTING THROUGH HIS AN INDIVIDUAL, FAILED TO
REPORT STATISTICAL AND SUMMARY INFORMATION REGARDING
CUSTOMER COMPLAINTS, AS REQUIRED BY NASD CONDUCT RULE
3070(C).
Initiated By:
NASD
Date Initiated:
03/02/2005
Docket/Case Number:
C10050007
No Product

Principal Sanction(s)/ReliefReport# 75052-63374 about FORDHAM FINANCIAL MANAGEMENT, INC. Data current as of Monday, January 26, 2015.
Sought:
24
User Guidance
Sought:
Sought:
Resolution:
Resolution Date:
03/02/2005

deceptive conduct?
Sanctions Ordered:
No
Censure

Sanction Details:
WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, RESPONDENT

FIRM CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY
OF FINDINGS; THEREFORE, THE FIRM IS CENSURED AND FINED $8,000,
JOINTLY AND SEVERALLY.
i
Reporting Source:
Firm
Current Status:
Final
Allegations:
WITHOUT ADMITTING OR DENYING ALLEGATIONS FORDHAM FINANCIAL

AND HARVEY LATZEN JOINTLY WERE ALLEGED TO HAVE FAILED TO
REPORT STATISTICAL CUSTOMER COMPLAINTS ON 3070 FILE. THESE
PARTICULAR COMPLAINTS WERE INSTEAD CARRIED AS
CORRESPONDENCE IN CORRESPONDENCE FILE.
Initiated By:
NASD
Date Initiated:
01/21/2005
Docket/Case Number:
C10050007
Other
STATISTICAL INFORMATION CUSTOMER COMPLAINTS FILINGS.
Sought:
Other
Sought:
LETTER OF ACCEPTANCE WAIVER AND CONSENT "AWC" WITHOUT

ADMITTING OR DENYING ALLEGATIONS FORDHAM FINANCIAL AND
LATZEN
JOINTLY
WERE MANAGEMENT,
ALLEGED TOINC.
HAVE
REPORT
Report# HARVEY
75052-63374
about FORDHAM
FINANCIAL
Data FAILED
current as TO
of Monday,
January 26, 2015.
STATISTICAL CUSTOMER COMPLAINTS ON 3070 FILE. THE ALLEGED
25
User Guidance
Sought:
HARVEY LATZEN JOINTLY WERE ALLEGED TO HAVE FAILED TO REPORT
STATISTICAL CUSTOMER COMPLAINTS ON 3070 FILE. THE ALLEGED
PARTICULAR COMPLAINTS WERE CARRIED IN THE CORRESPONDENCE
FILE.
Resolution:
Resolution Date:
03/02/2005
Sanctions Ordered:
Censure

Sanction Details:
FINED JOINTLY AND CENSURED HARVEY LATZEN AND FORDHAM

FINANCIAL $8,000.00
TOTAL PAID BY FORDHAM FINANCIAL MANAGEMENT.
Firm Statement
WITHOUT ADMITTING OR DENYING A LETTER OF ACCEPTANCE WAIVER

AND CONSENT HAS NOW BEEN ACCEPTED BY NASD (NAC)REVIEW
COMMITTEE.
i
Disclosure 5 of 7
Reporting Source:
Regulator
Current Status:
Final
Allegations:
EMPLOYING AN UNLICENSED AGENT; FAILURE TO SUPERVISE; FAILURE

TO MAINTAIN AND PROVIDE BOOKS AND RECORDS; DISHONEST AND
UNETHICAL BUSINESS PRACTICES BY NOT PROPERLY MAINTAINING AND
REPORTING CUSTOMER COMPLAINTS AND CORRESPONDENCE.
Initiated By:
UTAH DIVISION OF SECURITIES
Date Initiated:
04/03/2002
Docket/Case Number:
SD-02-0063
Other

Sought:
Revocation
Sought:
FINE
Resolution:
Stipulation and Consent
Resolution Date:
02/11/2003
Sanctions Ordered:
26
User Guidance
Sanctions Ordered:

Sanction Details:
FINE OF $15,000.00 TO BE PAID AS FOLLOWS: $3,000 UPON EXECUTION

OF THE STIPULATION AND CONSENT ORDER; $1,000 EVERY 30 DAYS FOR
TEN MONTHS THEREFROM; AND THE FINAL $2,000 30 DAYS THEREFROM.
Regulator Statement
ON JANUARY 22, 2001, JOHN ALEJOS, AN EMPLOYEE OF FORDHAM,

SOLICITED A UTAH RESIDENT, WHO IS AN INVESTIGATOR WITH THE UTAH
DIVISION OF SECURITIES, TO INVEST IN FOUNDRY NETWORKS WHILE HE
DID NOT HAVE A SECURITIES LICENSE IN UTAH. ANOTHER AGENT OF THE
FIRM, JOSEPH SCALI, SPOKE TO THE UTAH RESIDENT AND MISSTATED
MATERIAL FACTS. FROM DECEMBER 11-12, 2001, THE DIVISION
CONDUCTED AN AUDIT OF FORDHAM. DURING THE COURSE OF THE
AUDIT, THE DIVISION FOUND THAT FORDHAMS BOOKS AND RECORDS
WERE IMPROPERLY MAINTAINED. FOR MORE INFORMATION, PLEASE
VISIT THE DIVISION'S WEB SITE AT:
HTTP://WWW.SECURITIES.STATE.UT.US/ACTIONSEVENTS.ASP?
DOCKET+NUMBER=SD%2D02%2D0063
i
Reporting Source:
Firm
Current Status:
Final
Allegations:
FAILURE TO SUPERVISE
Initiated By:
STATE OF UTAH DIVISION OF SECURITIES
Date Initiated:
04/03/2002
Docket/Case Number:
SD-02-0063
Equity - OTC

Sought:
Other
Sought:
WITHOUT ADMITTING OR DENYING INVESTIGATIVE CONCLUSIONS,

CONSENTED TO PAY A FINE OF $15,000.00
Resolution:
Stipulation and Consent
Resolution Date:
02/10/2003
Sanctions Ordered:

Sanction Details:
WITHOUT ADMITTING OR DENYING THE SUBSTANCE OF INVESTIGATIVE

TO AN
ORDER REQUIRING
THAT
Report# CONCLUSION,CONSENTED
75052-63374 about FORDHAM FINANCIAL
MANAGEMENT,
INC. Data current
as FORDHAM
of Monday, January 26, 2015.
PAY A FINE OF $15,000.00
27
User Guidance
Sanction Details:
CONCLUSION,CONSENTED TO AN ORDER REQUIRING THAT FORDHAM
PAY A FINE OF $15,000.00
Firm Statement
NEWLY REGISTERED INDIVIDUAL CALLED STATE. WAS NOT LICENSED IN

STATE. SPOKE TO STATE REGULATOR. REPS LICENSE WAS TWO WEEKS
OLD. REP WAS REPRIMANDED BY FIRM AND PUT ON NOTICE.
COMPLIANCE DEPT REVIEWED FIRM POLICY AND REGULATIONS ABOUT
BEING LICENSED IN STATE PRIOR TO CALLING WITH REP. FIRM SPOKE TO
REGULATOR AND REPLIED IN WRITING. FORDHAM FINANCIAL NEITHER
ADMITS NOR DENIES THE SUBSTANCE OF THE DIVISIONS(UTAH'S)
INVESTIGATIVE CONCLUSIONS, BUT CONSENTED TO THE DIVISIONS
ENTERING AND ORDER REQUIRING FORDHAM PAY A FINE OF $15,000.00
i
Disclosure 6 of 7
Reporting Source:
Regulator
Current Status:
Final
Allegations:
06-01-00, NASD RULES 4632(A),6130(B),6420(A)(1), AND 6420(C)(2) RESPONDENT MEMBER FAILED TO ACCEPT OR DECLINE NASDAQ AND
NON-NASDAQ TRANSACTIONS WITHIN 20 MINUTES;FAILED TO SUBMIT
WITHIN 90 SECONDS AFTER EXECUTION LAST SALE REPORTS OF
NASDAQ NMS TRANSACTIONS AND CQS SECURITIES AND FAILED TO
DESIGNATE TRADES AS LATE WITH THE APPROPRIATE .SLD MODIFIER
AND FOR ONE CQS TRANSACTION, THE TRANSACTION REPORT
CONTAINED THE INCORRECT VOLUME; AND FAILED TO ACCEPT OR
DECLINE TRANSACTIONS WITHIN 20 MINUTES OF EXECUTION.
Initiated By:
NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC.
Date Initiated:
05/30/2000
Docket/Case Number:
C10000085
Other

Sought:
Sought:
Resolution:
Resolution Date:
05/30/2000
Sanctions Ordered:

28
User Guidance

Sanction Details:
FINED $3,000
i
Reporting Source:
Firm
Current Status:
Final
Allegations:
THE ALLEGATION WAS MEMBER FAILED TO ACCEPT OR DECLINE NASDAQ

AND NON-NASDAQ TRANSACTION WITHIN TWENTY MINUTES, FAILED TO
SUBMIT WITHIN NINETY SECONDS AFTER EXECUTION REPORTS OF
NASDAQ NMS TRANSACTIONS.
Initiated By:
NATIONAL ASSOCIATION OF SECURITIES DEALERS
Date Initiated:
05/30/2000
Docket/Case Number:
C10000085
Other

Sought:
Civil and Administrative Penalt(ies) /Fine(s)
Sought:
Resolution:
Resolution Date:
05/30/2000
Sanctions Ordered:

Sanction Details:
FINED $3,000.00
Firm Statement
FORDHAM FINANCIAL MANAGEMENT, INC. HAS ACCEPTED AND

CONSENTED WITHOUT ADMITTING OR DENYING THE ALLEGATIONS.
WHEN THESE ALLEGATIONS WERE BROUGHT TO THE FIRMS ATTENTION
THE FIRM'S OBLIGATION WAS TO REVIEW THESE ALLEGATIONS WITH THE
FIRM'S TRADING PERSONNEL, UNFORTUNATELY THE TRADING
INDIVIDUALS WERE NO LONGER WITH THE FIRM. CURRENTLY ALL
TRADING EMPLOYEES ARE REQUIRED TO REVIEW MARKET
MAKING/TRADING PROCEDURES AND TO INITIAL A COPY TO INSURE
FAMILIARITY.
i
Disclosure 7 of 7
29
User Guidance
Reporting Source:
Regulator
Current Status:
Final
Allegations:
THE SUBJECT FIRM ENGAGED IN BROKER/DEALER ACTIVITIES IN THE

STATE OF NORTH DAKOTA WITHOUT REGISTRATION IN NORTH DAKOTA.
THE SUBJECT FIRM PROVIDED FALSE INFORMATION TO THE
COMMISSIONER WHEN THEY DENIED THAT THEY OFFERED FOR SALE
AND/OR SOLD SECURITIES IN NORTH DAKOTA. THE SUBJECT FIRM WAS
NOT OF A GOOD BUSINESS REPUTATION BECAUSE OF THE DISCIPLINARY
HISTORY OF ITS PRESENT.
Initiated By:
THE OFFICE OF THE NORTH DAKOTA SECURITIES COMMISSIONER.
Date Initiated:
07/22/1999
Docket/Case Number:
Other

Sought:
Denial
Sought:
Resolution:
Order
Resolution Date:
10/19/1999
Sanctions Ordered:
Revocation/Expulsion/Denial

Sanction Details:
THE PENDING BROKER/DEALER APPLICATION OF THE SUBJECT FIRM WAS

DENIED.
Regulator Statement
THE SUBJECT FIRM ENGAGED IN BROKER/DEALER ACTIVITIES IN THE

STATE OF NORTH DAKOTA WITHOUT REGISTRATION IN NORTH DAKOTA.
THE SUBJECT FIRM PROVIDED FALSE INFORMATION TO THE
COMMISSIONER WHEN THEY DENIED THAT THEY OFFERED FOR SALE
AND/OR SOLD SECURITIES IN NORTH DAKOTA. THE SUBJECT FIRM WAS
NOT OF A GOOD BUSINESS REPUTATION BECAUSE OF THE DISCIPLINARY
HISTORY OF ITS PRESENT.
i
Reporting Source:
Firm
Current Status:
Final
Allegations:
THE STATE OF NORTH DAKOTA ALLEGED THAT FORDHAM FINANCIAL HAD

SECURITIES
TO AFINANCIAL
SINGLE CLIENT
WITHIN
NORTH
Report# SOLD
75052-63374
about FORDHAM
MANAGEMENT,
INC.THE
Data STATE
current asOF
of Monday,
January 26, 2015.
DAKOTA WITHOUT REGISTRATION IN THE STATE. FORDHAM DENIED THE
30
User Guidance
Allegations:
THE STATE OF NORTH DAKOTA ALLEGED THAT FORDHAM FINANCIAL HAD

SOLD SECURITIES TO A SINGLE CLIENT WITHIN THE STATE OF NORTH
DAKOTA WITHOUT REGISTRATION IN THE STATE. FORDHAM DENIED THE
ALLEGATIONS AND THE STATE FURTHER ALLEGED THAT FORDHAM
PROVIDED FALSE INFORMATION IN CONNECTION WITH THIS DENIAL.
Initiated By:
THE STATE OF NORTH DAKOTA
Date Initiated:
07/22/1999
Docket/Case Number:
No Product

Sought:
Revocation
Sought:
Resolution:
Order
Resolution Date:
10/19/1999
Sanctions Ordered:
Revocation/Expulsion/Denial
APPLICATION FOR LICENSING IN STATE WAS DENIED.
Sanction Details:
LICENSING WAS DENIED.
Firm Statement
FORDHAM APPLIED FOR LICENSING IN THE STATE OF NORTH DAKOTA. IN

RESPONSE TO THIS APPLICATION, THE STATE CONTACTED FORDHAM'S
CLEARING FIRM TO INQUIRE WHETHER ANY SALES HAD BEEN
CONDUCTED IN NORTH DAKOTA. UNBEKNOWNST TO FORDHAM, A
FORDHAM CLIENT WHO HAD PREVIOUSLY RESIDED IN A NEIGHBORING
STATE IN WHICH FORDHAM WAS REGISTERED HAD CHANGED HIS
MAILING ADDRESS TO NORTH DAKOTA. UNAWARE OF THIS, FORDHAM
SOLD SECURITIES TO THIS CUSTOMER IN NORTH DAKOTA. THE CLIENT
AND BROKER CONFIRMED THESE FACTS TO NORTH DAKOTA
REGULATORS IN WRITING. DESPITE THIS, AND DESPITE EXTENSIVE
EFFORTS TO RESOLVE THIS MATTER BY FORDHAM, NORTH DAKOTA
PROCEEDED TO ENTER AN ORDER ON DEFAULT AGAINST FORDHAM,
DENYING LICENSING. FORDHAM REAPPLIED FOR LICENSE AND WAS
GRANTED IN THE STATE 3/11/02.
31
User Guidance
Arbitration Award - Award/Judgment

Brokerage firms are not required to report arbitration claims filed against them by customers; however, BrokerCheck
provides summary information regarding FINRA arbitration awards involving securities and commodities disputes
between public customers and registered securities firms in this section of the report.
The full text of arbitration awards issued by FINRA is available at www.finra.org/awardsonline.
Disclosure 1 of 1
Reporting Source:
Regulator
Type of Event:
ARBITRATION
Allegations:
ACCOUNT RELATED-BREACH OF CONTRACT; ACCOUNT

RELATED-FAILURE TO SUPERVISE; ACCOUNT RELATED-MARGIN CALLS;
ACCOUNT RELATED-NEGLIGENCE
Arbitration Forum:
NASD
Case Initiated:
11/16/2000
Case Number:
00-05020
Disputed Product Type:
UNKNOWN TYPE OF SECURITIES
Sum of All Relief Requested:
$73,205.14
Disposition:
AWARD AGAINST PARTY
Disposition Date:
08/05/2002
Sum of All Relief Awarded:
$10,000.00
There may be a non-monetary award associated with this arbitration.

Please select the Case Number above to view more detailed information.
32
User Guidance
End of Report
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FORDHAM FINANCIAL MANAGEMENT, INC.

What is included in a BrokerCheck report?

Thank you for using FINRA BrokerCheck.

Using this site/information means

For additional information about

Report Summary for this Firm

Main Office Location

This firm is classified as a corporation.

17 BATTERY PLACE, SOUTH

This firm was formed in Colorado on 09/21/1987.

Information relating to the brokerage firm's history

Business Telephone Number

This firm is registered with:

Its fiscal year ends in December.

The following types of disclosures have been

Is this brokerage firm currently suspended with any

2015 FINRA. All rights reserved.

Firm Names and Locations

Main Office Location

2015 FINRA. All rights reserved.

Direct Owners and Executive Officers

FORDHAM HOLDING GROUP, INC.

Is this a domestic or foreign

Position Start Date

Does this owner direct the

Is this a public reporting

Legal Name & CRD# (if any):

ADAMS, RICHARD JOSEPH

Is this a domestic or foreign

Position Start Date

Does this owner direct the

Is this a public reporting

Legal Name & CRD# (if any):

BAQUET, EDWARD MANUEL

Is this a domestic or foreign

GENERAL PRINCIPLE, CROP/ROP/SROP, HEAD TRADER

Position Start Date

Does this owner direct the

Is this a public reporting

Legal Name & CRD# (if any):

Is this a domestic or foreign

GENERAL PRINCIPAL, PRESIDENT, DIRECTOR, SECRETARY, TREASURER

Position Start Date

Does this owner direct the

Is this a public reporting

Legal Name & CRD# (if any):

CALAMUNCI, ROBERT JOSEPH SR

Is this a domestic or foreign

Position Start Date

Does this owner direct the

Is this a public reporting

Legal Name & CRD# (if any):

GIORDANO, CHARLES FRANCIS

2015 FINRA. All rights reserved.

MANAGING DIRECTOR, GENERAL PRINCIPAL

Position Start Date

Does this owner direct the

Is this a public reporting

Legal Name & CRD# (if any):

HENDERSON, PHYLLIS ANNE

Is this a domestic or foreign

CHIEF COMPLIANCE OFFICER, AML COMPLIANCE OFFICER

Position Start Date