SEC suspends/fines rep for violating Reg BI

The rep recommended a $50,000 L Bond with a 5-year term to a retail customer: (1) who was a 63-year old semi-retiree; (2) who had a moderate risk tolerance; (3) whose only documented investment objective was preservation of capital; (4) who specifically explained to Respondent he did not want to lose his principal; and (5) who used retirement funds to make the purchase