December 4, 2017 – An AWC was issued in which Quoy was fined $7,500 and suspended from association with any FINRA member in all capacities for 10 business days. Without admitting or denying the findings, Quoy consented to the sanctions and to the entry of findings that he distributed issuer-prepared sales materials related to an offering of convertible notes to customers or potential customers that were misleading, omitted certain information that caused them to be misleading, or that failed to provide a fair and balanced presentation of information. The suspension was in effect from January 2, 2018, through January 16, 2018. (FINRA Case #2014041862705). Quoy was affiliated with Spencer Edwards, Inc. since 2013.
In a related matter, the Securities and Exchange Commission filed a complaint in the U.S. District Court for the Western District of Washington on December 4, 2017 against DONALD E. MacCORD, JR., SHANNON D. DOYLE, and DIGI OUTDOOR MEDIA, INC. (“DOM”). The SEC complaint alleges inter alia that the DOM securities offering was fraudulent and that in February 2015, Digi filed a registration statement with the Commission, seeking to sell shares of the company to the public. The registration statement painted a misleading picture for prospective investors about Digi’s ability to generate revenue, its financial condition, and its prospects for success. See, https://www.sec.gov/litigation/complaints/2017/comp24001.pdf.