NEW YORK–Signing a form for a client might seem like a harmless way to expedite paperwork and save the client a hassle. But some recent disciplinary cases show how much forging a signature, even with the best of intentions, can cost a broker. Take, for instance, the Financial Industry Regulatory Authority’s action against a former broker at CUNA Brokerage Services Inc. Finra alleged that she falsified the signatures of three customers on IRA forms and a variable annuity disclosure form between late 2010 and early this year. She forged “two of the customers’ signatures with their knowledge and consent and as accommodations,” according to settlement documents. The third she did without the customer’s knowledge, but under a “good-faith” belief that a power of attorney allowed her to do it. Her firm’s policy prohibited brokers from signing customer names to any documents. More in the Wall Street Journal here.
