Supervision costs and fine imposed by firm adds $9,700 to regulator’s penalties.

Representative comes clean during company investigation after initially denying allegations.

Four sanctioned in total after principal approved person reports his licensed assistant.

Regulator finds no lack of client authorization or complaint.

Ordered to complete three years of course work before 2025 license renewal.

Regulator stops short of imposing monetary penalty, saying conviction is sufficient for general deterrence.

Deal which brought the firms’ risk adjusted capital below zero deemed reckless.