ROGER DENNIS HERRMANN is currently employed as a Broker and/or Investment Adviser at LASALLE ST SECURITIES, L.L.C. located at 10 F Courtney St, Rhinelander, WI, 54501.
ROGER DENNIS HERRMANN has worked at LASALLE ST SECURITIES, L.L.C. since November 13, 1986
ROGER DENNIS HERRMANN has 4 Disclosure Event(s).
Date: March 06, 1985 Category: Regulatory Initiated By: SECURITIES AND EXCHANGE COMMISSION Resolution: Decision SanctionDetails: Sanctions: Suspension Broker Comment: THE CHARGES AROSE OUT OF AN INCIDENT WITH SEVERALCLIENTS TRADING NAKED OPTIONS IN JUNE OF 1982, SPECIFICALLY,OPTIONS FOR CITIES SERVICE WHICH WERE DUE TO EXPIRE IN TWO DAYS.THERE WAS A TENDER OFFER FOR CITIES SERVICE, WHICH INCREASEDTHEIR $45 OPTIONS FORM 1/4 TO 9. MY CLIENTS WERE SHORT HUNDREDSOF OPTIONS AND LOST NEARLY $750,000.00 AMONG ALL OF THEM. THESEC BELIEVED THEY WERE UNSUITABLE FOR SUCH TRADING; THAT ORDERSWERE ENTERED WITHOUT CUSTOMER'S KNOWLEDGE AND THAT THE RISKSWEREN'T FULLY EXPLAINED. I WOULD DISPUTE THESE ALLEGATIONS. IWAS ALSO CHARGED WITH SIGNING PAPERS TO TRANSFER FUNDS ANDOBTAINING NEW ACCOUNT INFORMATION FROM A THIRD PARTY.
Date: October 07, 1984 Category: Employment Separation After Allegations Firm Name: SMITH BARNEY, HARRIS UPHAM & CO. Termination Type: Discharged Broker Comment: ON OCTOBER 4,1984, SMITH BARNEY, HARRIS UPHAM & CO., INC. ASKED HERRMANN FORHIS RESIGNATION. ALTHOUGH HERRMANN INQUIRED, HE WAS NEVERINFORMED OF THE REASONS FOR HIS DISCHARGE. HE ASSUMED HE WASDISCHARGED DUE TO A COMPLAINT FILED BY LARRY GRAF AND AN SECINVESTIGATION.
Date: January 18, 1983 Category: Customer Dispute Allegations: VIOLATION OF SEC. 10(B) EXCH. ACT 1934 (FRAUD)DAMAGES CLAIMED: $125,672.20; VIOLATION OF SEC. 17 OF EXCH. ACT.1934 (FRAUD) DAMAGES CLAIMED: $125,672.20; BREACH OF FIDUCIARYDUTY DAMAGES CLAIMED: $125,672.20; VIOLATION OF ART. III, SEC. 2OF RULES OF FAIR PRACTICE OF NASD; RULE 405 OF NYSE; RULE 923 OFASE & RULE 9.9 OF CBOE (SUITABILITY) DAMAGES CLAIMED:$125,672.20; BREACH OF CONTRACT-DAMAGES CLAIMED: $125,672.20. Damage Amount Requested: $628,361.00 Damages Granted: $266,807.00 Broker Comment: SPECIAL VERDICT REACHED - AMOUNT OF DAMAGES WEREOFFSET BY AMOUNT CLIENT OWED FIRM. FOUND TO HAVE BREACHEDFIDUCIARY DUTY OF CLIENT.[CUSTOMER] WAS A CLIENT OF MINE AND SMITHBARNEY FOR 10 YEARS. IN JUNE OF 1982, HE LOST APPROXIMATELY$350,000.00 TRADING NAKED CALL OPTIONS IN CITIES SERVICE. (HEHAD MADE PROFITS OF OVER $180,000.00 IN THE PAST IN SIMILARTRADING.) IN JANUARY OF 1983, SMITH BARNEY FILED A COMPLAINTAGAINST [CUSTOMER] FOR MONIES OWED IN HIS ACCOUNT OF $266,807.00;[CUSTOMER] COUNTER-SUED, ASKING FOR HIS LOSS OF $350,000.00 TO BEFORGIVEN FROM THE CITIES SERVICE TRADE. THE CASE WAS HEARD INFEDERAL COURT IN MILWAUKEE, WHERE THE JURY REACHED A COMPROMISE.HIS ACCOUNT WAS LEFT AT ZERO BALANCE; SMITH BARNEY DID NOTCOLLECT THE MONIES OWED. ***SEE INCIDENT NO. 1 FOR RELATED U-5 DETAILS.***
Date: June 01, 1982 Category: Regulatory Initiated By: STATE OF WISCONSIN - COMMISSIONER OFSECURITIES. Allegations: VIOLATIONS OF SS 4.06(1)(c), SS 4.06(2)(i), SS4.06(1)(e), 4.06 (1)(f), WISCONSIN ADM. CODE UNETHICAL BUSINESSPRACTICE). Resolution: Consent SanctionDetails: Sanctions: Suspension Sanction Details: CONSENT ORDER ISSUED THROUGH STIPULATION. WISC.SECURITIES AGENT LICENSE WAS SUSPENDED FOR 30 DAYS; PROHIBITEDFROM EFFECTING ANY SECURITIES OPTION TRANSACTIONS FOR 1 YEAR;SMITH BARNEY (EMPLOYER) WAS PROHIBITED FROM EFFECTING ANYUNCOVERED OPTION TRANSACTIONS IN ITS RHINELANDER, WI BRANCH FOR120 DAYS. Broker Comment: SAME AS SEC PROCEEDING.
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