The Corporation Commission sanctioned Guilford Nergard of Phoenix with a three-month suspension of his Arizona securities salesman registration and a $2,500 administrative penalty for his dishonest and unethical conduct.
The Corporation Commission found that Nergard’s former employer had revoked his discretionary trading authority and subsequently terminated his employment for failure to obtain permission from his clients before exercising a trade.
In settling this matter, Nergard admits to the Commission’s findings.