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Motion to Vacate NASD Bar Dismissed as Untimely

Manuel P. Asensio, Exchange Act Rel. 62315, June 17, 2010

Asensio was barred by NASD in 2006. In 2008 Finra denied an application of a firm to allow him to associate with it despite the bar. Asensio moved that the Commission "cancel" the bar and the denial of association order.

Appeals to the Commission of Finra disciplinary decisions must be filed within 30 days absent extraordinary circumstances. The Commission found Asensio had filed his appeals more than 3 years after the relevant Finra decisions and that there were no extraordinary circumstances justifying his delay. It ruled that allegations of bias or prosecutorial misconduct do not excuse a delay.

Asensio also filed 30 other motions that the Commission denied.