South Florida Arbitration & Litigation Lawyer Blog
Stock Broker Misconduct and Fraud FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq.
January, 2012:
Rod R. Cushing (CRD #2479782, Registered Representative, Salt Lake City, Utah) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $15,000 and suspended from association with any FINRA member in any capacity for 45 days. Without admitting or denying the findings, Cushing consented to the described sanctions and to the entry of findings that he instructed administrative personnel at his member firm to prepare forms for clients’ approval that effected changes of address for the customers’ accounts from the customers’ own residential mailing addresses to Cushing’s address. The findings stated that these customers did not live at this address. The findings also stated that Cushing caused administrative personnel to prepare forms for client approval that effected a change of address for an additional customer from the customer’s own residential mailing address to the address of Cushing’s neighbor, who also did not live at this address. The findings also included that Cushing then caused the forms to be signed by the customers and submitted to the firm, which made the firm’s books and records inaccurate.
The suspension is in effect from December 5, 2011, through January 18, 2012. (FINRA Case #2010021662101).