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STEPHEN EDWARD ELKINS

STEPHEN EDWARD ELKINS is currently employed as a Broker and/or Investment Adviser at WILLIAM BLAIR located at 150 NORTH RIVERSIDE PLAZA, 150 NORTH RIVERSIDE, CHICAGO, IL, 60606.

STEPHEN EDWARD ELKINS has worked at WILLIAM BLAIR since June 23, 1987

Disclosure History

STEPHEN EDWARD ELKINS has 2 Disclosure Event(s).

Date: August 08, 2003
Category: Regulatory
Initiated By: NASD
Allegations: NASD RULE 2110 - STEPHEN ELKINS, IN CONTRAVENTION OF IM-2110-1, SOLD OR PERMITTED THE SALE OF SHARES OF COMMON STOCKS OF INITIAL PUBLIC OFFERINGS IN THE SECONDARY MARKET TO AN INDIVIDUAL REGISTERED AS A GENERAL SECURITIES REPRESENTATIVE WITH NASD IN HIS PERSONAL ACCOUNT AND IN THE ACCOUNT OF A COMPANY IN WHICH THE INDIVIDUAL WAS THE PRINCIPAL MANAGER AND HAD A BENEFICIAL INTEREST AT THE PUBLIC OFFERING PRICE.
Resolution: Acceptance, Waiver & Consent(AWC) SanctionDetails:
Sanctions: Monetary/Fine SanctionDetails:
Amount: $4,233.46 Sanction Details: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, STEPHEN ELKINS CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS, THEREFORE, HE IS FINED $4,233.46, WHICH INCLUDES DISGORGEMENT OF COMMISSIONS OF $1,733.46 EARNED FROM THE SALE OF INITIAL PUBLIC OFFERINGS.

Date: May 17, 1993
Category: Customer Dispute
Allegations: [CUSTOMER'S] DAUGHTER CLAIMED UNSUITABLEINVESTMENTS WERE RECOMMENDED TO HIM AND THAT THE LEVEL OFTRADING IN HIS ACCOUNT WAS EXCESSIVE. SHE SOUGHT DAMAGES OF1,000,000. [CUSTOMER] IS DECEASED.
Damage Amount Requested: $1,000,000.00
Settlement Amount: $225,000.00
Broker Comment: IN RESPONDING TO AND VIGOROUSLY DEFENDING THISCLAIM, WILLIAM BLAIR & COMPANY PRODUCED MORE THAN 10,000 PAGESOF DOCUMENTS IN RESPONSE TO [FAMILY MEMBER'S] DISCOVERY DEMANDS.HEARINGS IN THE MATTER WERE SCHEDULED, THEN POSTPONED SEVERALTIMES. AFTER 18 MONTHS OF DISTRACTIONS ASSOCIATED WITHDEFENDING THIS CLAIM, WE ELECTED TO SETTLE THE MATTER TO AVOIDFURTHER EXPENSE AND INCONVENIENCE. [FAMILY MEMBER] THEN WITHDREWHER CLAIM. THE SETTLEMENT TOTALLED $225,000, TO WHICH ICONTRIBUTED $81,250.I CONTINUE TO BELIEVE THE RECOMMENDATIONS MADE TO[CUSTOMER], MY FORMER FATHER-IN-LAW, WERE SUITABLE ANDTHAT ALL TRANSACTIONS IN HIS ACCOUNT WERE IN KEEPING WITH THEINVESTMENT OBJECTIVES HE HAD EXPRESSED TO ME. AT NO TIME DID HEEXPRESS ANY DISSATISFACTION WITH THE WAY IN WHICH HIS ACCOUNTWAS HANDLED, NOR DID HE COMPLAIN TO ME OR MY FIRM. THE REALIZEDINCOME AND PROFITS TOTALING MORE THE $525,000 ON AN ACCOUNTTHAT WAS INVESTED PRIMARILY IN MUNICIPAL BONDS. [FAMILY MEMBER'S] ALLEGATIONS AROSE AFTER SHE GAINED CONTROL OF HERFATHER'S ASSETS.

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