April 2011 FINRA Account Executive Enforcement Action:
Charles Joseph Fiorucci (CRD #1527771, Registered Representative, Palm Coast, Florida formerly licensed with Foresters Equity Services, Inc., and Fortune Financial Services, Inc.) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for six months. The fine must be paid either immediately upon Fiorucci’s reassociation with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier. Without admitting or denying the findings, Fiorucci consented to the described sanctions and to the entry of findings that he relocated his business from a broker-dealer in one state to a broker-dealer in another state, and during the process of moving his customer accounts, Fiorucci falsified customer signatures on new account forms and change in broker-dealer forms. The findings stated that some of these customers consented to his signing these documents on their behalf, but others did not. The findings also stated that the firm’s written supervisory procedures specifically prohibited registered representatives from falsifying and/or forging customers’ signatures on transaction documents and/or other documents. The suspension is in effect from February 22, 2011, through August 21, 2011 (FINRA Case #2010022424201).
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