South Florida Broker/Dealer and Account Executive Negligent Supervision, Forgery and Unauthorized Activity FINRA Arbitration, Litigation and Probate Estate Attorney.
The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute an enforcement action, firms and licensed individuals have the responsibility to reflect such action on their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.
The monthly disciplinary information is referenced on the FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:
January 2014 Disciplinary and Other FINRA Actions
Timothy John Coyle (CDR #2437046, Registered Representative, Palm Harbor, Florida) 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 Coyle’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, Coyle consented to the described sanctions and to the entry of findings that he forged signatures on documents and also forged customer’s initials next to amendments to a variable annuity application. The findings stated that the customer signatures and initials Coyle forged were done without the customer’ knowledge or consent. FINRA Case No. 2012031517302
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