Vanshap Capital, Llc

Allegations: ON SEPTEMBER 8, 2011, DAVID S. SHAPIRO, A PRINCIPAL OF VANSHAP CAPITAL, LLC, WAS SANCTIONED FOR VIOLATING FINRA RULE 2010, NASD RULE 2711(G)(2), AND 2711(H)(1)(A) BY EXECUTING MULTIPLE TRADES (IN 2009) IN COVERED SECURITIES IN ACCOUNTS IN WHICH HE OR A MEMBER OF HIS HOUSEHOLD HAD A FINANCIAL INTEREST DURING A PERIOD BEGINNING THIRTY (30) CALENDAR DAYS BEFORE AND ENDING FIVE (5) CALENDAR DAYS AFTER HE PUBLISHED A REPORT CONCERNING THE COMPANY THAT HAD ISSUED THE TRANSACTED SECURITY. MR. SHAPIRO'S MEMBER FIRM, ACTING THROUGH MR. SHAPIRO, PUBLISHED RESEARCH REPORTS ON SUBJECT COMPANIES THAT FAILED TO DISCLOSE THAT MR. SHAPIRO OR A MEMBER OF HIS HOUSEHOLD HAD A FINANCIAL INTEREST IN THE SECURITIES OF THE SUBJECT COMPANIES. WITHOUT ADMITTING OR DENYING THE FINDINGS, MR. SHAPIRO CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF THE FINDINGS, AND WAS FINED $5,000. Status: Final Summary: WITHOUT ADMITTING OR DENYING THE FINDINGS, DAVID S. SHAPIRO CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS, THEREFORE HE IS FINED $5,000.

Allegations: ON SEPTEMBER 8, 2011, DAVID S. SHAPIRO, A PRINCIPAL OF VANSHAP CAPITAL, LLC, WAS SANCTIONED FOR VIOLATING FINRA RULE 2010, NASD RULE 2711(G)(2), AND 2711(H)(1)(A) BY EXECUTING MULTIPLE TRADES (IN 2009) IN COVERED SECURITIES IN ACCOUNTS IN WHICH HE OR A MEMBER OF HIS HOUSEHOLD HAD A FINANCIAL INTEREST DURING A PERIOD BEGINNING THIRTY (30) CALENDAR DAYS BEFORE AND ENDING FIVE (5) CALENDAR DAYS AFTER HE PUBLISHED A REPORT CONCERNING THE COMPANY THAT HAD ISSUED THE TRANSACTED SECURITY. MR. SHAPIRO'S MEMBER FIRM, ACTING THROUGH MR. SHAPIRO, PUBLISHED RESEARCH REPORTS ON SUBJECT COMPANIES THAT FAILED TO DISCLOSE THAT MR. SHAPIRO OR A MEMBER OF HIS HOUSEHOLD HAD A FINANCIAL INTEREST IN THE SECURITIES OF THE SUBJECT COMPANIES. WITHOUT ADMITTING OR DENYING THE FINDINGS, MR. SHAPIRO CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF THE FINDINGS, AND WAS FINED $5,000. Status: Final Sanction Detail: WITHOUT ADMITTING OR DENYING THE FINDINGS, DAVID S. SHAPIRO CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS, THEREFORE HE WAS FINED $5,000. THE $5,000 FINE WAS PAID ON 9/14/11. Summary: WITHOUT ADMITTING OR DENYING THE FINDINGS, DAVID S. SHAPIRO CONSENTED TO THE DESCRIBED SANCTION AND TO THE ENTRY OF FINDINGS, THEREFORE HE WAS FINED $5,000. THE $5,000 FINE WAS PAID ON 9/14/11.