Respondent is charged with engaging in practices harmful or detrimental to the public in violation of Iowa Code sections 543B.29(1)(d), 543B.29(1)(k), 543B.34(1), 543B.46 (2017) by:
(a) Failing to maintain at all times a record of the Respondent’s trust account and improper trust account procedures. See 193E Iowa Administrative Code §§ 13.1(6), 18.14(5)(e), 18.14(5)(f).
(b) Failing to accurately maintain a general ledger to record in chronological order all receipts and disbursements for the Respondent’s trust account. See 193E Iowa Administrative Code §§ 13.1(6)(a), 18.14(5)(e)(1).
(c) Failing to accurately maintain an individual ledger for broker’s equity for the Respondent’s trust account. See 193E Iowa Administrative Code §§ 13.1(1)(c), 13.1(6), 18.14(5)(e)(2).
(d) Failing to accurately maintain an individual ledger for interest for the Respondent’s trust account. See 193E Iowa Administrative Code §§ 13.1(2), 13.1(6), 18.14(5)(e)(2).
(e) Failing to provide a means for a monthly reconciliation of the Respondent’s trust account to ensure agreement of the general ledger balance, reconciled bank balance and individual ledger accounts. See 193E Iowa Administrative Code §§ 13.1(6)(a)(3), 18.14(5)(e), 18.14(5)(f).
