FINRA suspended LPL Financial LLC representative Tammara Lynne Collins of Carlsbad, California and fined her $5,000 for signing and initialing a customer's name on annuity purchase documents in contravention of LPL procedures.
The findings state that in 2010, Collins affixed the initials of an LPL customer, signed her name and/or changed the dates on seven annuity purchase documents in violation of firm policy.
Many firms prohibit associates from signing for a customer or initialing on their behalf due to the risk of misconduct that comes with falsifying customer signatures or other information, such as dates, on firm documents. For instance, FINRA previously barred broker Teresa Jo Dorenkamp of Eagle One Investments for stealing over $390,000 of customer funds, gaining access to the money by forging customer signatures on at least 11 wire transfer authorization letters.
In 2013, FINRA barred James Grimes for improperly transfering $306,000 and wrongfully converting $250,000 in customer funds for personal use. Grimes' method? Forging signatures.
If you have invested with Tamara Lynne Collins or with any broker or financial adviser who has improperly added your initials or signed your name on annuity or any other financial transaction documents—especially if this was done without your knowledge or consent—and this illicit conduct has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.